Star Energy Group PLC has announced an additional listing of 177,018 Ordinary Shares of 0.002p each under the Share Incentive Plan (SIP). The application has been made to the London Stock Exchange for these shares to trade on the AIM market. The SIP Shares will be held by Equiniti Share Plan Trustees Limited. The number of shares to be issued has been calculated with reference to the mid-market closing price of 9.06p on 19 January 2024 and will rank equally with the existing issued shares of the Company.
Following the issue of shares, the Company's issued share capital will be 128,688,429 Ordinary Shares, with the number of deferred shares remaining at 303,305,534. The total number of voting rights in Star Energy will be 128,688,429 Ordinary Shares. The admission to AIM is expected to become effective on or around 5 February 2024.
The Star Energy SIP, adopted in 2013, is an Inland Revenue approved Share Investment Plan for all employees of the Group. It is a tax-efficient incentive plan that allows employees to subscribe for up to GBP150 worth of Star Energy ordinary shares per month. The Company matches employees' monthly subscriptions on a 1-to-1 basis and, subject to meeting pre-defined quarterly production targets, increases the matching element for that quarter to 2-to-1. Employees must remain employed by the Company for three years to receive their allocation of matching shares, which are held by the SIP Trustees.
For further information, interested parties can contact Star Energy Group plc or its appointed advisors.