BowLeven Plc Director's Interests (7992I)
22 June 2017 - 1:37AM
UK Regulatory
TIDMBLVN
RNS Number : 7992I
BowLeven Plc
21 June 2017
21 June 2017
Bowleven plc ("Bowleven" or "the Company")
Director's Interests
Bowleven announces that, on 19 June 2017, a total of 480,000
ordinary shares of GBP0.10 each in the Company ("Shares") vested in
favour of David Clarkson, Chief Operating Officer ("the Director")
under the terms of Bowleven's 2006 Long Term Incentive Plan ("the
Plan"). This vesting related to an award that was granted to him
under the Plan on 4 December 2013 ("the Award"). As announced on 21
December 2016, the vesting of the Award (which was originally
subject to a performance target measured over the three years from
grant) was deferred and made subject to the satisfaction of an
additional condition over the period ending on 4 June 2017.
Following the expiry of this period, it was determined that the
Award vested in full.
The vesting of the Award has been satisfied by the transfer of
Shares to the Director by the trustee of the Company's Employee
Benefit Trust. The Director subsequently instructed to sell only
such number of the Shares as was necessary to account for tax
payable on the vesting of the Award. Following the vesting and
sale, the beneficial interests of the Director in the Shares of the
Company are set out below.
Director Previous Shareholding Current Shareholding % issued share capital (excl. treasury shares)
---------------- --------------------- -------------------- ----------------------------------------------
David Clarkson 379,753 664,695 0.20
---------------- --------------------- -------------------- ----------------------------------------------
ENQUIRIES
For further information, please contact:
Bowleven plc
Christopher Ashworth, Chairman 00 44 131 524 5678
Eli Chahin, Chief Executive
Brunswick Group LLP
Patrick Handley 00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)
Derrick Lee 00 44 131 220 6939
Neil McDonald
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
---- ---------------------------------------------------------------------------
a) Name David Clarkson
---- -------------------------- -----------------------------------------------
2 Reason for the notification
---- ---------------------------------------------------------------------------
a) Position/status PDMR (Chief Operating Officer)
---- -------------------------- -----------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ---------------------------------------------------------------------------
a) Name Bowleven plc
---- -------------------------- -----------------------------------------------
b) LEI 213800UITVIP4EWSPE58
---- -------------------------- -----------------------------------------------
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 of Ordinary shares of 10p each ("Shares")
the financial
instrument, type
of instrument
----
Identification GB00B04PYL99
code
---- -------------------------- -----------------------------------------------
b) Nature of the Acquisition of Shares following the vesting
transaction of awards granted on 4 December 2013 pursuant
to the terms of the Bowleven 2006 Long Term
Incentive Plan.
---- -------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
GBP0 480,000
---------- ----------
---- -------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume
Not applicable
* Price
---- -------------------------- -----------------------------------------------
e) Date of the transaction 19 June 2017
---- -------------------------- -----------------------------------------------
f) Place of the transaction London Stock Exchange
---- -------------------------- -----------------------------------------------
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 of Ordinary shares of 10p each ("Shares")
the financial
instrument, type
of instrument
----
Identification GB00B04PYL99
code
---- -------------------------- -----------------------------------------------
b) Nature of the Sale of Shares
transaction
---- -------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------- ----------
GBP0.2811 195,058
----------- ----------
---- -------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume
Not applicable
* Price
---- -------------------------- -----------------------------------------------
e) Date of the transaction 20 June 2017
---- -------------------------- -----------------------------------------------
f) Place of the transaction London Stock Exchange
---- -------------------------- -----------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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