Source - LSE Regulatory
RNS Number : 0765Z
Kistos Holdings PLC
05 August 2024
 

5 August 2024

 

Home - Kistos

 

Kistos Holdings plc

 

("Kistos" or the "Company")

 

Grant of Options, Adoption of Share Incentive Plan and PDMR Dealings

 

Kistos (LSE: KIST) announces that on 1 August 2024 it made awards of options (the "Options") over ordinary shares of £0.01 each of the Company (the "Ordinary Shares") to certain directors of the Company. Additionally, the Company announces the adoption of the Kistos Holdings plc Share Incentive Plan (the "SIP") on 25 July 2024 and has invited qualifying employees of the Company and its subsidiaries to participate in the SIP.

Grant of Options and Equity Incentive Plan

The Options have been granted over a maximum number of Ordinary Shares shown below. The Options are being made pursuant to the terms of the Company's 2021 Equity Incentive Plan ("EIP"). The Options have an exercise price of £1.30 per Ordinary Share, being the closing price of the Ordinary Shares on 31 July 2024. This is the first grant of options to directors of the Company since its inception in 2020, with employees also being granted further options under the plan.

The EIP is available to all employees and, amongst other things, details that no awards under the EIP shall be made where aggregation of such ordinary shares under option would exceed 10% of the share capital of the Company. Awards made under the EIP, including exercise price and number of option awards, are made at the discretion of the remuneration committee of the Board. Options vest in three equal annual instalments commencing on the first anniversary of the date of grant, subject to continued employment. No other performance conditions apply.

The details of the options are as follows:

 

Directors

Title

Number of Ordinary Shares subject to the Options

Andrew Austin

Executive Chairman

 676,923

Peter Mann

Chief Executive Officer

 592,308

Richard Slape

Chief Financial Officer

 507,692

 

The notifications set out at the end of this announcement, made in accordance with the requirements of Regulation 2014/596/EU which is part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR"), provide further detail in relation to the Options granted.

 

Adoption of Share Incentive Plan

The Company is also pleased to announce that the board of directors of the Company adopted the Kistos Holdings plc Share Incentive Plan (the "SIP") on 25 July 2024 and has invited qualifying employees of the Company and its subsidiaries to participate in the SIP. The qualifying employees may accept the invitation to participate in the SIP by 14 August 2024.

The SIP is an all-employee trust arrangement adopted pursuant to Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003 pursuant to which qualifying employees of the Company and its subsidiaries are able to acquire Ordinary Shares (the "Partnership Shares") using deductions from their salary each month and receive an allocation of two Ordinary Shares (the "Matching Shares") for every one Partnership Share acquired, each at the end of the relevant period (the "Accumulation Period"). The maximum investment by any one employee under the SIP is £1,800 per annum.

The Company will make a further announcement in due course after 14 August 2024 confirming the persons discharging managerial responsibilities who have committed to participate in the SIP ("PDMRs"). The Company will also make further announcements after the end of each Accumulation Period with details of the Partnership Shares acquired on behalf of the PDMRs and the allocation of the Matching Shares to the PDMRs.

 

Enquiries

 

Kistos Holdings plc

Andrew Austin / Peter Mann

 

via Hawthorn Advisors

Panmure Liberum (NOMAD, Joint Broker)

James Sinclair-Ford / Dougie McLeod / Mark Murphy

 

Tel: 0207 886 2500

Berenberg (Joint Broker)

Matthew Armitt / Ciaran Walsh

 

Tel: 0203 207 7800

Hawthorn Advisors (Public Relations Advisor)

Henry Lerwill / Simon Woods

 

Tel: 0203 745 4960

Camarco (Public Relations Advisor)

Billy Clegg

Tel: 0203 757 4983

 

Notes to editors

 

Kistos plc was established to acquire and manage companies in the energy sector engaging in the energy transition trend. The Company has undertaken a series of transactions including the acquisition of a portfolio of highly cash generative natural gas production assets in the Netherlands from Tulip Oil Netherlands B.V. in 2021. This was followed inJuly 2022, with the acquisition of a 20% interest in the Greater Laggan Area (GLA) from TotalEnergies, which includes four producing gas fields and a development project. In May 2023, Kistos completed its third acquisition, acquiring the total share capital of Mime Petroleum and its Norwegian Continental Shelf Assets. These comprise a 10% stake in the Balder joint venture spanning Balder and Ringhorne oil fields.

 

Kistos is a low carbon intensity gas producer with Estimated Scope 1 CO emissions from its operated activities offshore of less than 0.01 kg/boe in 2022 (excluding necessary flaring during drilling campaigns).

 

www.kistosplc.com 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closed associated with them.

 

The below notifications are made in accordance with the requirements of UK MAR.

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

Andrew Austin

 

2

Reason for the notification

 

a)

Position/status

Executive Chairman

 

b)

Initial Notification Amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Kistos Holdings plc

 

b)

LEI

213800L2ET5KEP3OMV07

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

Identification code

Ordinary shares of £0.1 each

 

ISIN:  GB00BLF7NX68

 

 

b)

Nature of the transaction  

Grant of options under the 2021 Equity Incentive Plan

c)

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

£1.30

676,923

d)

Aggregated information

- Aggregated volume

- Price

 

Price(s)

Volume(s)

£1.30

676,923

e)

Date of the transaction

1 August 2024

 

f)

Place of the transaction

N/A

 

g)

Additional Information

N/A

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

Peter Mann

 

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

Kistos Holdings plc

 

b)

LEI

213800L2ET5KEP3OMV07

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

Identification code

Ordinary shares of £0.1 each

 

ISIN:  GB00BLF7NX68

 

 

b)

Nature of the transaction  

Grant of options under the 2021 Equity Incentive Plan

c)

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

£1.30

592,308

d)

Aggregated information

- Aggregated volume

- Price

 

Price(s)

Volume(s)

£1.30

592,308

e)

Date of the transaction

1 August 2024

 

f)

Place of the transaction

N/A

 

g)

Additional Information

N/A

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

 

a)

Name

Richard Slape

 

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

Kistos Holdings plc

 

b)

LEI

213800L2ET5KEP3OMV07

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

Identification code

Ordinary shares of £0.1 each

 

ISIN:  GB00BLF7NX68

 

 

b)

Nature of the transaction  

Grant of options under the 2021 Equity Incentive Plan

c)

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

£1.30

507,692

d)

Aggregated information

- Aggregated volume

- Price

 

Price(s)

Volume(s)

£1.30

507,692

e)

Date of the transaction

1 August 2024

 

f)

Place of the transaction

N/A

 

g)

Additional Information

N/A

 

 

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