FOR IMMEDIATE RELEASE 31 July 2023
CAPRICORN ENERGY PLC ("Capricorn" or the "Company")
Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")
in the Company's Shares
1. Grant of 2023 Awards under the Company's Long Term Incentive Plan (2017)
Capricorn announces that, on 28 July 2023, the following Awards (in the form of "nil-cost" options) over its ordinary shares of 490/143 pence each ("Shares") were made under the Long Term Incentive Plan approved by shareholders in 2017 (the "2017 LTIP") to the undernoted Executive Director and PDMR of the Company:
| Executive Director / PDMR | Number of Shares |
| Randy Neely, Chief Executive | 538,502 |
| Nathan Piper, Commercial Director | 107,700 |
All Shares were awarded at £1.857 per Share, being the average mid-market closing price of a Share over the three dealing days immediately preceding the grant date. The vesting of the Awards (which, in the case of Randy Neely's, has been granted in accordance with the Company's directors' remuneration policy that was approved at the 2023 AGM) depends upon the extent to which specified performance conditions are met over a three-year performance period. Following any such vesting, the Award granted to Randy Neely will be subject to a further two year "holding period" during which it cannot be exercised.
2. Summary of current holdings of Executive Directors / PDMRs
Following the grant of the above Awards, the Executive Director's and PDMR's beneficial interests in the Shares of the Company are as follows:
| Executive Director / PDMR | Current Shares | % Issued Share Capital | Outstanding entitlements under 2017 LTIP
| |
| Unvested Awards still subject to performance conditions | Vested but unexercised Awards* | |||
| Randy Neely | 0 | 0 | 538,502 | 0 |
| Nathan Piper | 0 | 0 | 107,700 | 0 |
* This column includes all outstanding awards that have vested following the expiry of the applicable performance period, regardless of whether or not they are currently capable of being exercised under the rules of the 2017 LTIP.
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Randy Neely | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Capricorn Energy PLC | ||||
| b) | LEI | 213800ZJEUQ8ZOC9AL24 | ||||
| 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 of 490/143 pence each ("Shares") | ||||
| Identification code | GB00BQ98V038 | |||||
| b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
| e) | Date of the transaction | 28 July 2023 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Nathan Piper | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Commercial Director | ||||
| b) | Initial notification/ Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Capricorn Energy PLC | ||||
| b) | LEI | 213800ZJEUQ8ZOC9AL24 | ||||
| 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 of 490/143 pence each ("Shares") | ||||
| Identification code | GB00BQ98V038 | |||||
| b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
| e) | Date of the transaction | 28 July 2023 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
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