23 October 2023

Beacon Energy plc

("Beacon Energy" or the "Company")

Award of Share Options

Director / PDMR Shareholding

Beacon Energy plc (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets, announces that it has granted options over, in aggregate, 503,565,644 ordinary shares of nil pence each in the capital of the Company ("Ordinary Shares") to its directors and employees (the "Options"). The Options are exercisable at a price of 0.15 pence per Ordinary Share, being the Issue Price at the Company's recent Fundraise as announced on 15 September 2023.

In addition, the Company has reached agreement with certain Directors to cancel 33,360,000 "out of the money" options for no consideration.

Issue of Options to Directors

The following Options have been granted to Company's Directors:

The  Options set out in the table above vest in two equal tranches, being six months and one year from the date of grant, and are exercisable for up to five years from their date of grant.

Issue of Options to Senior Management and Employees

A further 236,593,442 Options have been granted to certain other members of senior management and employees at the same exercise price of 0.15 pence per Ordinary Share, on the same terms as those set out above. 

Related Party Transaction

The Option awards to directors represent a related party transaction under the AIM Rules for Companies. The director who is independent of the transaction, being Leo Koot, having consulted with the Company's nominated adviser, Strand Hanson, considers that the terms of the Option award are fair and reasonable insofar as shareholders are concerned.

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