Southern Energy Corp. (TSXV:SOU)(AIM:SOUC) has announced the grant of 6,900,000 restricted share awards under its Share Award Incentive Plan. The awards form part of the company’s compensation and employee retention programme.
The awards will vest in three equal portions, with one third becoming vested on each of the first, second and third anniversaries of the grant date.
When an award vests, the holder may receive either a cash payment or an equivalent number of fully paid common shares, with the choice left to Southern Energy’s discretion. The value will be based on the closing market value per common share on the TSXV on the business day before payment.
Southern Energy said 2,500,000 of the restricted share awards were issued to company directors and persons discharging managerial responsibilities. The supplied announcement does not provide an individual allocation for those recipients.
Southern Energy’s Annual Meeting of Shareholders is scheduled for Wednesday, September 30, 2026 at 10:00 a.m. Calgary time. The meeting will take place at Suite 2400, 333 - 7th Avenue S.W., Calgary, Alberta, T2P 2Z1, and will also be available by webcast through Zoom.
The company said the formal meeting notice and information circular are available through its website and SEDAR+. The materials include resolutions concerning prospective “control person” approval and proposed changes to the board.
Southern Energy describes itself as a natural gas exploration and production company focused on conventional natural gas and light oil resources in Mississippi, Louisiana and East Texas. The company’s description also refers to a low-decline production base, a drilling inventory and access to commodity pricing in North America.
Southern Energy Corp. has announced that, pursuant to its Share Award Incentive Plan, an aggregate of 6,900,000 restricted share awards (RSAs) were granted as part of its overall compensation and employee retention programme. The company is identified in the source as (TSXV:SOU)(AIM:SOUC).
The RSAs vest as to one third on each of the first, second and third anniversaries of the grant date.
On the vesting dates, a holder is entitled to receive either a cash payment or its equivalent in fully paid common shares of the company, at Southern's discretion. The amount is equal to the closing market value per common share on the TSXV on the business day prior to such payment.
In aggregate, 2,500,000 of the RSAs were issued to directors and persons discharging managerial responsibilities (PDMR) of the company. The source does not provide an individual breakdown in the supplied text.
Southern's Annual Meeting of Shareholders is scheduled for Wednesday, September 30, 2026 at 10:00 a.m. (Calgary time), at Suite 2400, 333 - 7th Avenue S.W., Calgary, Alberta, T2P 2Z1, and by webcast via Zoom.
The source states that formal notice of the meeting and the associated information circular are available on Southern's website and on SEDAR+. The circular includes resolutions relating to, among other matters, prospective 'control person' approval and proposed board changes.
The source describes Southern Energy Corp. as a natural gas exploration and production company focused primarily on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. It characterises the company as having a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to premium commodity pricing in North America.