9 July 2026
AFENTRA PLC
EXERCISE OF EXECUTIVE DIRECTORS’ FOUNDERS’ SHAREPLAN AWARDS,
EXECUTIVE DIRECTORS’ LONG-TERM INCENTIVE PLAN (LTIP) AWARDS
DIRECTOR / PDMR DEALINGS,
AND TOTAL VOTING RIGHTS
Afentra plc (‘Afentra’ or the ‘Company’) (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in
Exercise of Founders’ Share Plan Awards
The Founders’ Share Plan (FSP) is a five year incentive scheme for the founders, designed to reward exceptional shareholder return, which was approved by shareholders at the 2022 AGM, and subsequently adopted by the Board.
Nil Cost Options[1] over ordinary shares of
Following the third measurement date the total number of Nil Cost Options held under the FSP by the Executive Directors and which had not been exercised were as follows:
|
Director |
FSP Options vested and remaining to be exercised [2] |
|
|
4,839,022
|
|
|
3,614,692
|
|
|
3,206,582
|
In line with the Company’s commitment to minimise shareholder dilution, Afentra elected to satisfy these FSP Options through a combination of: (i) shares purchased on the open market utilising the Company’s Employee Share Benefit Trust (“Trust”); and (ii) through the allotment and issue of new Ordinary Shares.
Each Executive Director has exercised their remaining unexercised FSP Options in full and have received the net Ordinary Shares after applicable deductions for income tax and national insurance, as set out in the Table below.
Details of the Nil Cost Options Exercised and Shares Received Net of Tax
|
Director |
Gross Number of Nil Cost Options Exercised |
Ordinary Shares received (Net of Tax) |
|
|
4,839,022 |
2,564,682 |
|
|
3,614,692 |
1,915,786 |
|
|
3,206,582 |
1,699,488 |
|
Total
|
11,660,296 |
6,179,956 |
Of the aggregate 6,179,956 net Ordinary Shares received by the Executive Directors 4,501,338 Ordinary Shares have been satisfied using shares purchased by the Trust and 1,678,618 Ordinary Shares have been satisfied through the allotment and issue of new Ordinary Shares allotted by the Company.
As a result of this transaction, the total aggregate shareholding in the Company for each of the Executive Directors will be as follows:
·
·
·
Further details of the FSP and the Nil Cost Options awarded thereunder have been disclosed in the Company’s annual reports and financial statements for each of the years 2023, 2024 and 2025.
Executive Director Long-Term Incentives Award
Under the Long-Term Incentive Plan of the Company (“LTIP”) the Executive Directors have been awarded Nil Cost Options[3], as set out in the Table below. The Nil Cost Options were granted on 8 July 2026 but with an effective award date of 16 March 2026 and a vesting date of 16 March 2029, subject to the achievement of performance conditions based on a combination of the Company’s absolute and relative Total Shareholder Return performance.
|
Director
|
Nil Cost Options (Maximum number of Ordinary Shares) |
|
|
1,525,086
|
|
|
838,253
|
|
|
838,253
|
Admission & Total Voting Rights
As a result of the exercise of the FSP Nil Cost Options described above, the Company has applied to the London Stock Exchange for admission of 1,678,618 new Ordinary Shares to trading on AIM (“Admission”). Admission is expected to occur on or around 10 July 2026.
The Company’s issued share capital will comprise 275,134,922 Ordinary Shares following Admission. The total number of voting rights in the Company will be 275,134,922. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
The following notifications are made pursuant to Article 19(3) of the Market Abuse Regulation.
PDMR Notifications
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
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2. |
Reason for the notification |
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a) |
Position/status: |
Chief Executive Officer |
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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 |
Afentra plc |
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|
b) |
LEI: |
21380028BFDFJK8BRX92 |
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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:
Identification code: |
Ordinary shares of
GB00B4X3Q493 |
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|
b) |
Nature of the transaction: |
a) Exercise of Nil Cost Options under FSP
b) Nil Cost Options granted under LTIP
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|
c) |
Price(s) and volume(s):
|
|
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d) |
Aggregated information: · Aggregated volume: · Price: |
N/a
|
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e) |
Date of the transaction: |
7 July 2026 |
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|
f) |
Place of the transaction: |
XOFF |
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|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name: |
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|
2. |
Reason for the notification |
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|
a) |
Position/status: |
Chief Operating Officer |
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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 |
Afentra plc |
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|
b) |
LEI: |
21380028BFDFJK8BRX92 |
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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:
Identification code: |
Ordinary shares of
GB00B4X3Q493 |
|||||||||
|
b) |
Nature of the transaction: |
a) Exercise of Nil Cost Options under FSP
b) Nil Cost Options granted under LTIP
|
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|
c) |
Price(s) and volume(s):
|
|
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|
d) |
Aggregated information: · Aggregated volume: · Price: |
N/a
|
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|
e) |
Date of the transaction: |
7 July 2026 |
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|
f) |
Place of the transaction: |
XOFF |
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|
1. |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name: |
|
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|
2. |
Reason for the notification |
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|
a) |
Position/status: |
Chief Financial Officer |
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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 |
Afentra plc |
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|
b) |
LEI: |
21380028BFDFJK8BRX92 |
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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:
Identification code: |
Ordinary shares of
GB00B4X3Q493 |
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|
b) |
Nature of the transaction: |
a) Exercise of Nil Cost Options under FSP
b) Nil Cost Options granted under LTIP
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|
c) |
Price(s) and volume(s): |
|
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|
d) |
Aggregated information: · Aggregated volume: · Price: |
N/a
|
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|
e) |
Date of the transaction: |
7 July 2026 |
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|
f) |
Place of the transaction: |
XOFF |
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For further information contact:
Afentra plc +44 (0)20 7405 4133
Paul McDade, CEO
Anastasia Deulina, CFO
Christine Wootliff, Investor Relations
Burson Buchanan (Financial PR) +44 (0)20 7466 5000
Barry Archer
George Pope
Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) +44 (0) 20 7710 7600
Callum Stewart
Simon Mensley
Ashton Clanfield
Tennyson Securities (Joint Broker) +44 (0)20 7186 9033
Peter Krens
About Afentra
Afentra plc (AIM: AET) is an upstream oil and gas company focused on opportunities in Africa. The Company’s purpose is to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting IOCs and host governments. Offshore Angola, in the
More information is available at www.afentraplc.com
Inside Information
This announcement contains inside information for the purposes of article 7 of Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) and as subsequently amended by the Financial Services Act 2021 (‘UK MAR’). Upon publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain. For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of Afentra is Paul McDade, Chief Executive Officer.
[1] As a US taxpayer, Anastasia Deulina received FSP Free Share Awards under the FSP rather than Nil Cost Options. The difference in Free Share Awards compared to Nil Cost Options is that they are awarded automatically under the FSP Plan Rules when the applicable vesting conditions are met. However, for the purposes of this announcement FSP Free Share Awards are referred to as Nil Cost Options or Options.
[2] FSP Options vested and remaining to be exercised is comprised of 100% of the Options awarded at the third measurement date (16 March 2026) and 50% percent of the Options awarded at each of the first measurement date (16 March 2024) and the second measurement date (16 March 2025).
[3] As a US taxpayer, Anastasia Deulina received an LTIP Conditional Award under the LTIP rather than a Nil Cost Option. The grant date, vesting date and performance conditions of such LTIP Conditional Award are the same as those for the LTIP Nil Cost Options.
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