Prospex Energy plc has granted a total of 14,350,000 share options in the company to directors and other staff, following its review of staff remuneration.
DIRECTORS
The award the options was deferred from the first quarter of 2026, pending publication of the company’s annual report.
Prospex said that the options represent 3.31% of its current issued share capital.
Following the awards, the aggregate number of options in issue to current staff, directors and management is 29,816,667, representing 6.9% of the total issued share capital.
The total excludes 15 million options awarded to chef executive officer Tom Reynolds on his appointment in January 2026.
Non-executive chairman William Smith, non-executive director Simon Ashby-Rudd and independent NEDs Andrew Hay and Alasdair Buchanan each received one million options.
Persons discharging managerial responsibilities received a combined 2.5 million options, and other non-PDMR staff received 7.85m options.
Following the awards, Mr Smith holds 3.87m options; Mr Ashby-Rudd one million; Mr Buchanan 3.87m; Mr Hay 2.3m and Mr Reynolds 15m, for an overall total of 25.04m options.
The options have a strike price of 0.1p, being the nominal price of ordinary shares, vest in three months on 20 September 2026 and are exercisable for a period of five years.
Prospex holds onshore exploration and production gas interests in Italy, Spain and Poland.