The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
21 January 2021
Global Petroleum Limited
("Global" or "the Company")
Issue of Incentive Options to Directors
Following approval by Shareholders at the Company's AGM held on 7 January 2021, the Board of Global has granted incentive options over the Company's ordinary shares to Directors as detailed below.
The Board has chosen to grant these incentive options in order to attract and retain the services of each Director and to provide incentive linked to the performance of the Company.
The incentive options are exercisable at a price of 1.037 pence per share, being a 15 per cent premium to the volume weighted average price of the Company's shares over the five trading day period up to and including the date of the AGM. The incentive options expire on the fifth anniversary of the date of grant. Further details of the incentive options are set out in the AGM Notice of Meeting, available on the Company's website.
Director No. of incentive options
Peter Blakey 1,500,000
Andrew Draffin 1,000,000
Garrick Higgins 1,000,000
Peter Hill 6,000,000
Peter Taylor 1,500,000
John van der Welle 2,000,000
For further information please visit www.glo-pet.com.au or contact:
| Global Petroleum Limited | +44 (0) 20 3 875 9255 |
| Peter Hill, Managing Director & CEO Andrew Draffin, Company Secretary |
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| Panmure Gordon (UK) Limited (Nominated Adviser & Sole Broker) | +44 (0) 20 7886 2500 |
| Corporate Finance: Nicholas Harland / Nick Lovering / Ailsa Macmaster Corporate Broking: Hugh Rich |
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| Tavistock (Financial PR & IR) Simon Hudson / Nick Elwes | +44 (0) 20 7920 3150 |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Peter Hill |
| 2. | Reason for the Notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 6,000,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | John Van Der Welle |
| 2. | Reason for the Notification | |
| a) | Position/status | Non Executive Chairman |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 2,000,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Andrew Draffin |
| 2. | Reason for the Notification | |
| a) | Position/status | Non Executive Director |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 1,000,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Garrick Higgins |
| 2. | Reason for the Notification | |
| a) | Position/status | Non Executive Director |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 1,000,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Peter Taylor |
| 2. | Reason for the Notification | |
| a) | Position/status | Non Executive Director |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 1,500,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Peter Blakey |
| 2. | Reason for the Notification | |
| a) | Position/status | Non Executive Director |
| b) | Initial notification/Amendment | Initial |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Global Petroleum Limited |
| b) | LEI | 261700ZCF0J30FEAY97 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Ordinary shares |
| Identification code | AU000000GBP6 | |
| b) | Nature of the transaction | Options to acquire ordinary shares |
| c) | Price(s) and volume(s) | Price: 1.037p, Volume: 1,500,000 |
| d) | Aggregated information: Aggregated volume Price |
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| e) | Date of the transaction | 20th January 2021 |
| f) | Place of the transaction | London Stock Exchange, Alternative Investment Market (AIM) |
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