2 July 2019
Chariot Oil & Gas Limited
("Chariot", the "Company" or the "Group")
Grant of Deferred Share Awards
In line with best practice corporate governance for AIM companies, Chariot aims to remunerate its Executive Team through an appropriate mix of cash and share awards, thus aligning their interests with those of its Shareholders. With this purpose the Annual Executives' Bonus Scheme looks to reward the achievement of pre-defined corporate performance targets through the grant of deferred bonus share awards based on the extent to which these targets were achieved during 2018.
As a result, under the 2018 Executives' Bonus Scheme, the following Persons Discharging Managerial Responsibilities ("PDMR") were granted deferred bonus share awards in the form of nil cost options over Ordinary Shares on 2 July 2019 under the Company's Long Term Incentive Share Scheme. Subject to continued employment, these share awards will vest on 1 January 2022 and will remain exercisable until 1 July 2029.
| PDMR | Position | Number of Shares Awarded |
| Larry Bottomley | Chief Executive Officer | 638,750 |
| Julian Maurice-Williams | Chief Financial Officer | 306,250 |
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
| For further information please contact:
Chariot Oil & Gas Limited Larry Bottomley, CEO
|
+44 (0)20 7318 0450 | ||
| finnCap (Nominated Adviser and Broker) Matt Goode, Christopher Raggett, Anthony Adams (Corporate Finance) Andrew Burdis (ECM)
| +44 (0)20 7220 0500 | ||
| Celicourt Communications (Financial PR) Jimmy Lea | +44 (0)207 520 9261 | ||
| | |
| |
NOTES TO EDITORS
ABOUT CHARIOT
Chariot Oil & Gas Limited is an independent oil and gas company focused on the Atlantic margins. It holds exploration licences covering two blocks in Namibia, three blocks in Morocco and four blocks in the Barreirinhas Basin offshore Brazil.
The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Larry Bottomley | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Chariot Oil & Gas Limited | ||||
| b) | LEI | 21380046DOGKITYU6X54 | ||||
| 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 | Option over Ordinary Shares. | ||||
| Identification code | ISIN for Chariot Oil & Gas Limited Ordinary Shares: GG00B2R9PM06 | |||||
| b) | Nature of the transaction | Grant of option over Ordinary Shares. In accordance with the Company's Long Term Incentive Share Scheme this option will vest on 1 January 2022 and will remain exercisable until 1 July 2029. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
Not applicable, single transaction. | ||||
| e) | Date of the transaction | 2 July 2019 | ||||
| f) | Place of the transaction | Outside a trading venue. | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Julian Maurice-Williams | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Chariot Oil & Gas Limited | ||||
| b) | LEI | 21380046DOGKITYU6X54 | ||||
| 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 | Option over Ordinary Shares. | ||||
| Identification code | ISIN for Chariot Oil & Gas Limited Ordinary Shares: GG00B2R9PM06 | |||||
| b) | Nature of the transaction | Grant of option over Ordinary Shares. In accordance with the Company's Long Term Incentive Share Scheme this option will vest on 1 January 2022 and will remain exercisable until 1 July 2029. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
Not applicable, single transaction. | ||||
| e) | Date of the transaction | 2 July 2019 | ||||
| f) | Place of the transaction | Outside a trading venue. | ||||