9 August 2024
Star Energy Group plc ("Star Energy"
or the "Company")
Additional Share
Listing
The Company announces that an
application has been made to the London Stock Exchange for a total
of 231,366 Ordinary Shares of 0.002p each (the "SIP Shares") to
trade on the AIM market of London Stock Exchange ("AIM") under the
Star Energy Group plc Share Incentive Plan ("SIP"). Subject to
admission, the SIP Shares will be held by Equiniti Share Plan
Trustees Limited (the "SIP Trustees").
The number of shares to be issued
under the SIP has been calculated with reference to the mid-market
closing price of 7.74p on 19 July 2024, in accordance with the
rules of the SIP. The SIP Shares shall rank equally with the
existing issued shares of the Company. It is expected that
admission to AIM will become effective on or around 14 August
2024.
The issued share capital of the
Company following the above detailed issue of shares will be
129,537,872 Ordinary Shares; the number of deferred shares remains
303,305,534. The total number of voting rights in Star Energy will
be 129,537,872 Ordinary Shares, which should 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
a change to their interest in Star Energy under the Financial
Conduct Authority's Disclosure Guidance and Transparency
Rules.
Further details on the SIP are set
out in the appendix to this announcement.
ENQUIRIES
For
further information please contact:
Star Energy Group plc Tel: +44
(0)20 7993 9899
Ann-marie Wilkinson, Chief of
Staff
Investec Bank plc (NOMAD and Joint Corporate
Broker) Tel: +44 (0)20 7597 5970
Virginia Bull/Charles Craven
Canaccord Genuity (Joint Corporate Broker)
Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/Ana
Ercegovic
Vigo Consulting Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Finlay
Thomson/Kendall Hill
APPENDIX
About the Star Energy
SIP
In 2013, the Company adopted an
Inland Revenue approved Share Investment Plan for all employees of
the Group. The scheme is a tax efficient incentive plan pursuant to
which all Company employees are eligible to subscribe for up to
GBP150 (or 10% of salary, if less) worth of Star Energy ordinary
shares per month. On a three-monthly basis, the Company matches
employees' monthly subscriptions on a 1-to-1 basis and, subject to
the Company having met pre-defined quarterly production targets,
will increase the matching element for that quarter to 2-to-1. To
receive their allocation of matching shares, employees must
ordinarily remain employed by the Company for a period of 3 years.
Shares issued under the SIP are held by the SIP
Trustees.
Under the SIP, during the vesting
period the recipient retains the voting rights and dividend rights
associated with the matching allocation shares however, is unable
to sell the shares until the vesting criteria have been fulfilled.
The matching allocation shares will be issued to the Company's
Employee Benefit Trust and held until vesting conditions have been
met. The participant retains the full rights over any subscription
shares.