Grant of LTIP options
SIMEC Atlantis Energy Limited
(“SAE”, the "Company" or, together with its subsidiaries, the "Group")
Grant of LTIP options
SAE announces that options have been granted to executive directors under the Company’s long-term incentive plan (“LTIP”).
On 18 August 2025, under the terms of the Company’s LTIP, adopted on 3 January 2024, the Board approved the award and grant of, in aggregate, 25,575,036 options over ordinary shares in the Company (“LTIP Options”) to the executive directors and a person discharging managerial responsibilities ("PDMR"), as follows:
| LTIP Options Awarded | ||||
| Name | Position | Vesting in three equal annual instalments | Vesting on the third anniversary of the grant date | Total resultant Options held |
| Graham Reid | CEO | 4,916,842 | 5,782,499 | 29,525,427 |
| Simon Hirst | CFO | 2,842,105 | 4,336,874 | 20,552,892 |
| David Taaffe | COO (PDMR, non-Board) | 3,359,842 | 4,336,874 | 20,154,687 |
The LTIP Options have been granted subject to continued employment. 14,456,247 of the options will vest on the third anniversary of the grant date. The balance of 11,118,789 options will vest in three equal annual instalments commencing on the first anniversary of the date of grant. There are no further performance conditions. The options have an exercise price of 2.65p based on the closing price of the shares for the last dealing day immediately prior to the date of grant and will be exercisable for a maximum period of 10 years.
Following the grant of the above Options, the total number of Ordinary Shares outstanding under the Company's LTIP is 57,793,877, representing 7.8% of the Company's issued share capital.
| SAE | Sean Parsons, Director of External Affair | +44 (0)7739 832 446 |
| Strand Hanson Limited (Nominated and Financial Adviser) | Richard Johnson, Rory Murphy, David Asquith | +44 (0)20 7409 3494 |
| Zeus Capital Limited (Broker) | Louisa Waddell, Simon Johnson | +44 (0)20 3829 5000 |
Notes to Editors
SAE
SAE is a global developer, owner and operator of sustainable energy projects. SAE owns the world’s flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, that is being repurposed into a sustainable energy park that will become one of the UK’s largest battery storage sites. https://www.ampeak.energy/
SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here.
SAE’s strategy: “Building a Sustainable Future to 2035”, can be viewed here.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
- Details of the person discharging managerial responsibilities / person closely associated
|
a) Name |
1. Graham Reid
|
| 2. Simon Hirst
|
|
| 3. David Taaffe |
- Reason for the Notification
|
a) Position / status |
1. Director
|
| 2. Director
|
|
| 3. PDMR (non-Board) COO | |
|
b) Initial notification / amendment |
Initial notification |
- Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| a) Name | SIMEC Atlantis Energy Limited |
| b) LEI | 21380056V967FGHNU187 |
- 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
Description of the Financial instrument,
| a) type of instrument | Ordinary Shares | |
| Identification code (ISIN) | SG9999011118 | |
| b) Nature of the Transaction | Grant of LTIP options | |
| Price(s) | Volume(s) | |
|
c) Price(s) and volume(s) |
2.65p (exercise price) |
1. 10,699,341
|
| 2. 7,178,979
|
||
| 3. 7,696,716 |
|
d)
|
Aggregated information
Aggregated volume Price |
N/A (Single transaction) |
|
e) |
Date of the transaction |
18 August 2025 |
|
f) |
Place of the transaction |
Off-exchange |