TIDMMII
RNS Number : 8603S
Milton Capital PLC
09 November 2023
9 November 2023
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
MILTON CAPITAL PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMED
("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Milton Capital Plc
("Milton" or the "Company")
Strategy Update, Board Changes and Award of Options
Highlights
-- Company will continue to identify all investment
opportunities but with a primary focus on opportunities in the
energy sector
-- Appointment of Nick Pillar as a non-executive director
-- Richard Mays, non-executive director, change of role to non-executive chairman of the board
-- Awarding of 7,500,000 share options to directors and consultants
Following the appointment of a new leadership team, the Company
is pleased to announce a strategy update and the appointment of a
new Non-Executive Director.
Strategy Update
The Board of Directors will continue on-going efforts in
identifying opportunities that will not be limited to a particular
geographic location. However, given the collective experience of
the Directors, the Company will primarily focus on opportunities in
the energy sector. In particular, the focus within this sector will
be in light to medium hydrocarbon exploration and extraction and
natural hydrogen.
The Directors believe that these types of investment
opportunities are integral to the energy transition and, as such,
will provide considerable growth potential for shareholders.
Nicholas ("Nick") William Pillar - Non-Executive Director (aged
73)
Nick Pillar holds a BSc in Applied Geology and has over 40 years
of experience in the oil and gas industry. He started his career
working for Geophysical Services Inc in the field and office before
joining Enterprise Oil plc in 1990 where he became Head of
Geophysical Operations. He spent 2 years as Chief Geophysicist for
Enterprise where he led a team of 60 staff before the company was
taken over by Shell in 2002. Two years were spent in Malaysia with
Petronas Carigali as a consultant. On returning to the UK Nick was
asked to build the service division of Ikonscience, a niche rock
physics company, subsequently becoming Ikon's Operations Director.
He has also undertaken tutoring work at Imperial College, London.
In his most recent post, he served for 10 years as Head of
Geophysics for Canadian Overseas Petroleum Limited where he
undertook geophysical analysis of opportunities and assets in the
UKCS, West Africa, and North America.
In respect of paragraphs 9.6.13(1) to 9.6.13(6) of the Financial
Conduct Authority's Listing Rules, the below details all
directorships held by the director in any other publicly quoted
company at any time in the previous five years:
Current directorships Previous directorships
Nick Pillar and Associates Ltd N/A
Nick Pillar does not hold any ordinary shares in the
Company.
There is no further information in respect of the appointment of
Nick Pillar which would require disclosure under Listing Rule
9.6.13 R (1) - (6).
Edward Dawson, Executive Director commented: "We are excited to
have Nick join the Company to enhance its technical capacity as we
gear up to exploit our experience, network and opportunities in the
energy sector. Nick brings many years of relevant experience as is
evidenced by his CV and we look forward to him working alongside us
to create value for shareholders."
Award of Options
As part of the incentivisation arrangements to drive shareholder
value the Board has approved the following award of options over
ordinary shares in the Company to directors and consultants
("Options").
-- Richard Mays: 3,000,000
-- Edward Dawson: 3,000,000
-- Nick Pillar: 750,000
-- Other consultants: 750,000
Following the granting of the Options, the Directors will
hold:
Options Investor Warrants
Director
Richard Mays 3,000,000 8,000,000
---------- ------------------
Edward Dawson 3,000,000 8,000,000
---------- ------------------
Malcolm Burne Nil 12,000,000
---------- ------------------
Nick Pillar 750,000 Nil
---------- ------------------
The Options have an exercise price of 1.5p per share and the
Options will vest on completion of a substantial transaction and
will have a life to expiry of 3 years from the date of vesting.
Enquiries
Milton Capital plc info@milton-cpaital.co.uk
Directors or
Edward Dawson Miltoncapitalplc@gmail.com
Peterhouse Capital Limited
Financial Adviser +44 (0)20 7469
Brefo Gyasi / Guy Miller 0930
Corporate Broker
Lucy Williams / Duncan
Vasey
PDMR DEALINGS
i)
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
-------------------------------------------------------------------
a) Name Richard Mays
----------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Non-Executive Chairman
----------------------- ------------------------------------------
b) Initial notification
/Amendment Initial
----------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Milton Capital Plc
----------------------- ------------------------------------------
b) LEI 213800HP1JUEEDRXTV09
----------------------- ------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument,
type of instrument
Identification ISIN: GB00BMWLC750
code
----------------------- ------------------------------------------
b) Nature of the Share options grant
transaction
----------------------- ------------------------------------------
c) Price(s) and Exercise price of each share option :1.5p
volume(s) Volume: 3,000,000
----------------------- ------------------------------------------
d) Aggregated information
- Aggregated
volume
- Price
----------------------- ------------------------------------------
e) Date of the 8 November 2023
transaction
----------------------- ------------------------------------------
f) Place of the Main Market
transaction
----------------------- ------------------------------------------
ii)
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
-------------------------------------------------------------------
a) Name Edward Dawson
----------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Executive Director
----------------------- ------------------------------------------
b) Initial notification
/Amendment Initial
----------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Milton Capital Plc
----------------------- ------------------------------------------
b) LEI 213800HP1JUEEDRXTV09
----------------------- ------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument,
type of instrument
Identification ISIN: GB00BMWLC750
code
----------------------- ------------------------------------------
b) Nature of the Share options grant
transaction
----------------------- ------------------------------------------
c) Price(s) and Exercise price of each share option :1.5p
volume(s) Volume: 3,000,000
----------------------- ------------------------------------------
d) Aggregated information
- Aggregated
volume
- Price
----------------------- ------------------------------------------
e) Date of the 8 November 2023
transaction
----------------------- ------------------------------------------
f) Place of the Main Market
transaction
----------------------- ------------------------------------------
iii)
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
-------------------------------------------------------------------
a) Name Nick Pillar
----------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Non-Executive Director
----------------------- ------------------------------------------
b) Initial notification
/Amendment Initial
----------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Milton Capital Plc
----------------------- ------------------------------------------
b) LEI 213800HP1JUEEDRXTV09
----------------------- ------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument,
type of instrument
Identification ISIN: GB00BMWLC750
code
----------------------- ------------------------------------------
b) Nature of the Share options grant
transaction
----------------------- ------------------------------------------
c) Price(s) and Exercise price of each share option :1.5p
volume(s) Volume: 750,000
----------------------- ------------------------------------------
d) Aggregated information
- Aggregated
volume
- Price
----------------------- ------------------------------------------
e) Date of the 8 November 2023
transaction
----------------------- ------------------------------------------
f) Place of the Main Market
transaction
----------------------- ------------------------------------------
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END
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