Pharos Energy plc
("Pharos" or "the Company")
DIRECTORS/PDMR SHAREHOLDINGS
Grant of Awards under the Company's Deferred Share Bonus Plan
The Company announces that on 24 January 2025, its Executive Directors were granted deferred bonus awards over ordinary shares of £0.05 each in the Company ("Shares"), relating to a performance related annual bonus earned for 2024, under the Pharos Energy plc 2024 Deferred Share Bonus Plan (the "DSBP") as follows:-
| Director/PDMR | Position | No of Shares granted under the DSBP |
| Katherine Roe | Chief Executive Officer* | 265,304 |
| Sue Rivett | Chief Financial Officer | 425,634 |
*Appointed 1 July 2024
The number of Shares granted is equivalent to the relevant proportion of the 2024 annual bonus deferred, calculated on the basis of the closing middle market quotation (as derived from the Daily Official List) on the dealing day immediately preceding the date of grant (£0.2465). Subject to the rules of the DSBP, these Shares will generally vest over two years from the date of grant.
For further information, please contact:
Pharos Energy plc Tel: 0207 7747 2000
Katherine Roe, Chief Executive Officer
Sue Rivett, Chief Financial Officer
Camarco Tel: 020 3757 4980
Billy Clegg |Georgia Edmonds |Violet Wilson |Kirsty Duff
Notes to editors
Pharos Energy plc is an independent energy company with a focus on sustainable growth and returns to stakeholders, which is listed on the London Stock Exchange. Pharos has production, development and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest share in the El Fayum Concession in the Western Desert, with IPR Lake Qarun, part of the international integrated energy business IPR Energy Group, holding the remaining 55% working interest. The El Fayum Concession produces oil from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 joint stock company between the contractor parties (being IPR Lake Qarun and Pharos) and the Egyptian General Petroleum Corporation (EGPC). Pharos also holds a 45% working interest share in the North Beni Suef (NBS) Concession in Egypt, which is located immediately south of the El Fayum Concession. The first development lease on the NBS Concession was awarded in September 2023 and production started in December 2023. IPR Lake Qarun operates and holds the remaining 55% working interest in the NBS Concession. In Vietnam, Pharos currently has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company. Pharos' unitised interest in the TGT field is 29.7%. Pharos also currently has a 25% working interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Following the announcement by Pharos in December 2024 of approval a five year extension to the terms of the petroleum contracts for Blocks 16-1 and 9-2, together with associated changes to fiscal terms and participating interests, Pharos will hold a revised working interest in Block 16-1 (TGT) of 25.33% with effect from 8 December 2026 and a revised working interest in Block 9-2 (CNV) of 20% with effect from 16 December 2027. Blocks 16-1 and 9-2 are located in the shallow water Cuu Long Basin, offshore southern Vietnam. Pharos also holds a 70% interest in, and is designated operator of, Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, north east of the Cuu Long Basin, offshore central Vietnam.
| 1
| Details of the person discharging managerial responsibilities | |||||
| a) | Name | KATHERINE ROE | ||||
| 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 | PHAROS ENERGY PLC
| ||||
| b)
| LEI | 549300DDKLXYLLO4N524 | ||||
| 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 £0.05 EACH
GB00B572ZV91 | ||||
| b)
| Nature of the transaction
| Grant of Shares under the Pharos Energy plc 2024 Deferred Bonus Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
| N/A single transaction
| ||||
| e)
| Date of the transaction
| 24/01/25 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities | |||||
| a) | Name | SUE RIVETT | ||||
| 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 | PHAROS ENERGY PLC
| ||||
| b)
| LEI | 549300DDKLXYLLO4N524 | ||||
| 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 £0.05 EACH
GB00B572ZV91 | ||||
| b)
| Nature of the transaction
| Grant of Shares under the Pharos Energy plc 2024 Deferred Bonus Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
| N/A single transaction
| ||||
| e)
| Date of the transaction
| 24/01/25 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
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