Coro Energy PLC (AIM:CORO) Award of Share Options and Director/PDMR Dealing

Issue of Share Options

Coro Energy PLC, the South East Asian energy company with a natural gas and clean energy portfolio, announces the 2023 award of share options to employees of the Company.

On 8 February 2023, the Company granted an aggregate of 70,000,000 options over new ordinary shares in the Company to certain Coro employees (the “Options”). The Options will vest on the third anniversary of grant on 9 February 2026, subject to the achievement of performance criteria and are exercisable at a price of 0.255p per new ordinary share at any time until 9 February 2028. 35,000,000 of the Options have been awarded to the Company’s Executive Chairman, James Parsons and the notification below, provided in accordance with the Market Abuse Regulation, provides further details.

The performance vesting criteria for the Options is a final investment decision being taken by the partners to the Duyung PSC or the successful sale of Coro’s interest in the Duyung PSC. Both of these performance vesting criteria are consistent with the Company’s strategy. The performance period is three years, commencing in the current financial year of the Company (i.e. a measurement period of 8 February 2023 to 9 February 2026). The Remuneration Committee believes that the Company’s option awards continues to be an important tool for aligning the interests of the Coro’s Executive Management Team with those of shareholders. Should the performance criteria not be met as it is no longer relevant, the Remuneration Committee may permit Options to vest if it deems it appropriate to do so.

For further information please contact:

Coro Energy plc

James Parsons, Executive Chairman

Ewen Ainsworth, Chief Financial Officer

Via Vigo Consulting Ltd

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.