Last checked at 15 Apr 2021 08:00
15 April 2021
PDMR Share Dealing
VAALCO Energy, Inc. ("VAALCO" or "Company") announces the exercise of Stock Appreciation Rights ("SARs") on 9 April 2021 by Cary Bounds, a person discharging managerial responsibility in the Company, in the number set out below, which was satisfied for the amount of cash set out below (such amount being net of the grant price and taxes).
Name | Role at time of exercise | Nature of transaction | Number of SARs | Aggregate net cash to satisfy exercise of SARs ($) |
Cary Bounds | CEO | Exercise of SARs | 1,358,549
| 1,060,743.50 |
Option awards in the Company were vested and exercised by Cary Bounds on 9 April 2021, a person discharging managerial responsibility in the Company, as listed below.
Name | Role at time of exercise | Nature of transaction | Number of shares over which options exercised | Exercise price per share ($) |
| ||
Cary Bounds | CEO | Exercise of options | 375,039
| 2.25 | 118,278 |
This exercise of options triggered immediate tax liabilities and other costs that were satisfied by the disposal of the number of Common Shares listed below.
Name | Role at time of exercise | Nature of transaction | Number of Common Shares | Disposal Price per share ($) |
Cary Bounds | CEO | Disposal of Common Shares | 256,761 | 2.25 |
About VAALCO
VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
The Company is an established operator within the region, holding a 63.6% participating interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.
For Further Information
VAALCO Energy, Inc. (General and Investor Enquiries) | +00 1 713 623 0801
|
Website: | www.vaalco.com |
Al Petrie Advisors (US Investor Relations) | +00 1 713 543 3422 |
Al Petrie / Chris Delange | |
Buchanan (UK Financial PR) |
+44 (0) 207 466 5000 |
Ben Romney / Kelsey Traynor / James Husband | VAALCO@buchanan.uk.com
|
Notification of dealings in shares by PDMR's of the Company:
1. | Details of PDMR / PDMR Associate | |
(a) | Name | Cary Bounds |
(b) | Position / status | Chief Executive Officer (at time of exercise) |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Stock Appreciation Rights ("SARs") and Options over Common Shares ("Options") |
(b) | Nature of the transaction | Exercise of SARs and Options |
(c) | Price(s) and volume(s) | Exercise of SARs (before taxes and other costs): Price: US $2.25 Volume: 1,358,549 Total: US $3,056,735.25
Exercise of Options (before taxes and other costs): Price: US $2.25 Volume: 375,039 Total: US $843,838
|
(d) | Aggregated information Aggregated volume Price | Volume: 1,733,588 Price: $2.25
|
(e) | Date of the transaction | 9 April 2021 |
(f) | Place of the transaction | USA |
1. | Details of PDMR / PDMR Associate | |
(a) | Name | Cary Bounds |
(b) | Position / status | Chief Executive Officer & Chief Operating Officer |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Common Shares to satisfy tax withholding obligations and other costs upon exercise of stock options |
(b) | Nature of the transaction | Disposal of Common Shares to satisfy tax withholding obligations and other costs upon exercise of Options |
(c) | Price(s) and volume(s) | Price: US $2.25 Volume: 256,761 Total: US $577,712.25 |
(d) | Aggregated information Aggregated volume Price |
n/a |
(e) | Date of the transaction | 9 April 2021 |
(f) | Place of the transaction | USA |