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Longboat Energy PLC announced on 14 February 2022 that its Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs) acquired a total of 73,972 ordinary shares on 10 February 2022. These purchases occurred on the London Stock Exchange at prices ranging from 54.67 pence to 59.00 pence, resulting in the Directors, PDMRs, and related parties holding 3.6% of the Company's total issued share capital.
| Date | 14 Feb 2022 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 5589B |
14 February 2022
Longboat Energy plc
("Longboat Energy", "the Company" or "Longboat")
Notification of Transaction by Person Discharging Managerial Responsibilities ("PDMR")
Director Share Purchase
Longboat Energy, the emerging full-cycle North Sea E&P company, has been notified that on 10 February 2022 the Executive Directors and PDMRs purchased 73,972 ordinary shares of 10p each in the share capital of the Company. Following this announcement, the Directors, PDMRs and related parties will hold 3.6% of the total issued share capital of the Company.
Helge Hammer, CEO of Longboat Energy commented: "The Directors believe there is significant value creation potential in the material Egyptian Vulture discovery and the Company's fully funded 2022 drilling programme with the Kveikje, Cambozola and Copernicus wells all due to spud over the next few months testing 69 million barrels of oil equivalent net to Longboat (of which 83% is gas)."
Notification of Deal Forms of each PDMR can be found below. The share purchases qualify for the Company's Co-Investment Plan, the details of which have been announced separately. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
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1. |
Details of the person discharging managerial responsibilities/persons closely associated |
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a) |
Name |
Helge Hammer |
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2. |
Reason for notification |
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a) |
Position/Status |
CEO |
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b) |
Initial notification/amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Longboat Energy plc |
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b) |
LEI |
213800D1D587TB36ST68 |
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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 |
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a) |
Description of the financial instrument, type of instrument and identification code |
Ordinary Shares of £0.10 each in the capital of Longboat Energy plc ISIN: GB00BKFW2482 |
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b) |
Nature of transaction |
Purchase of shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated Information |
n/a |
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e) |
Date of transaction |
10 February 2022 |
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f) |
Place of transaction |
London Stock Exchange |
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1. |
Details of the person discharging managerial responsibilities/persons closely associated |
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a) |
Name |
Jonathan Cooper |
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2. |
Reason for notification |
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a) |
Position/Status |
CFO |
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b) |
Initial notification/amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Longboat Energy plc |
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b) |
LEI |
213800D1D587TB36ST68 |
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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 |
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|
a) |
Description of the financial instrument, type of instrument and identification code |
Ordinary Shares of £0.10 each in the capital of Longboat Energy plc ISIN: GB00BKFW2482 |
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b) |
Nature of transaction |
Purchase of shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated Information |
n/a |
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e) |
Date of transaction |
10 February 2022 |
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f) |
Place of transaction |
London Stock Exchange |
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1. |
Details of the person discharging managerial responsibilities/persons closely associated |
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a) |
Name |
Nicholas Ingrassia |
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2. |
Reason for notification |
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a) |
Position/Status |
Corporate Development Director |
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b) |
Initial notification/amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Longboat Energy plc |
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b) |
LEI |
213800D1D587TB36ST68 |
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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 and identification code |
Ordinary Shares of £0.10 each in the capital of Longboat Energy plc ISIN: GB00BKFW2482 |
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b) |
Nature of transaction |
Purchase of shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated Information |
n/a |
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e) |
Date of transaction |
10 February 2022 |
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f) |
Place of transaction |
London Stock Exchange |
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1. |
Details of the person discharging managerial responsibilities/persons closely associated |
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a) |
Name |
Julian Riddick |
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2. |
Reason for notification |
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a) |
Position/Status |
Company Secretary |
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b) |
Initial notification/amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Longboat Energy plc |
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b) |
LEI |
213800D1D587TB36ST68 |
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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 and identification code |
Ordinary Shares of £0.10 each in the capital of Longboat Energy plc ISIN: GB00BKFW2482 |
||||
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b) |
Nature of transaction |
Purchase of shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated Information |
n/a |
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e) |
Date of transaction |
10 February 2022 |
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f) |
Place of transaction |
London Stock Exchange |
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1. |
Details of the person discharging managerial responsibilities/persons closely associated |
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a) |
Name |
Hilde Salthe |
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2. |
Reason for notification |
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a) |
Position/Status |
Managing Director, Longboat Energy Norge AS |
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b) |
Initial notification/amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Longboat Energy plc |
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b) |
LEI |
213800D1D587TB36ST68 |
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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 and identification code |
Ordinary Shares of £0.10 each in the capital of Longboat Energy plc ISIN: GB00BKFW2482 |
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b) |
Nature of transaction |
Purchase of shares |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated Information |
n/a |
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e) |
Date of transaction |
10 February 2022 |
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f) |
Place of transaction |
London Stock Exchange |
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This announcement does not contain inside information
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Enquiries: |
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Longboat Energy |
via FTI |
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Helge Hammer, Chief Executive Officer |
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Jon Cooper, Chief Financial Officer |
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Stifel (Nomad) |
Tel: +44 20 7710 7600 |
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Callum Stewart Jason Grossman Simon Mensley Ashton Clanfield |
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FTI Consulting (PR adviser) |
Tel: +44 20 3727 1000 |
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Ben Brewerton Ntobeko Chidavaenzi |
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