Genel Energy PLC Director/PDMR Shareholding (2094A)
22 December 2017 - 10:00PM
UK Regulatory
TIDMGENL
RNS Number : 2094A
Genel Energy PLC
22 December 2017
22 December 2017
Genel Energy plc
2017 Awards - Notification of Transactions by Persons
Discharging Managerial Responsibilities ('PDMRs')
Pursuant to the notification obligations under EU Market Abuse
Regulations Article 19.1 the Company granted awards over its
ordinary shares of 10 pence each under the Performance Share Plan
('PSP') and Restricted Share Plan ('RSP') on 22 December 2017 to
the PDMR set out below.
PSP awards were made in the form of nil-cost options, which
become exercisable following the end of a three year performance
period, subject to the satisfaction of performance targets. Options
are then exercisable until the tenth anniversary of the date of
grant.
The PSP performance period will run from 22 December 2017 to 21
December 2020.
The award granted under the RSP was made in the form of nil-cost
options and becomes exercisable in three tranches; 25% on the first
anniversary of the award, 25% on the second anniversary of the
award and 50% on the third anniversary of the award.
Following vesting, shares are retained for an additional two
years for Executive Committee members under the Company's Retention
Policy.
The PSP awards are as follows:
Name No. of shares Lapse date Total number of
subject shares over which
to PSP Award options/awards are
held following notification
------------ -------------- ------------ -----------------------------
22 December
Bill Higgs 60,000 2027 200,000
------------ -------------- ------------ -----------------------------
RSP awards:
Name No. of shares Lapse date Total number of
subject shares over which
to RSP Award options/awards are
held following notification
------------ -------------- ------------ -----------------------------
22 December
Bill Higgs 140,000 2027 200,000
------------ -------------- ------------ -----------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
----- ------------------------------------------------------
Name Bill Higgs
a)
----- -------------------------- --------------------------
2 Reason for Notification
----- ------------------------------------------------------
a) Position/status COO
----- -------------------------- --------------------------
b) Initial notification Initial notification
/ Amendment
----- -------------------------- --------------------------
3 Details of the issuers, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ------------------------------------------------------
a) Name Genel Energy plc
----- -------------------------- --------------------------
b) LEI 549300IVCJDWC3LR8F94
----- -------------------------- --------------------------
4 Details of the transaction(s): section
to be replaced for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date (iv) each place where transaction
have been conducted
----- ------------------------------------------------------
a) Description of the Ordinary shares of 10
financial instrument, pence each
type of instrument
Identification code JE00B55Q3P39
----- -------------------------- --------------------------
b) Nature of the transaction Grant of nil-cost options
under the Company's
performance share plan
----- -------------------------- --------------------------
c) Price(s) and volumes(s) Price Volume
------- -------
Nil 60,000
------- -------
----- -------------------------- --------------------------
d) Aggregated information
-Aggregated volume 200,000
-Price Nil
----- -------------------------- --------------------------
e) Date of the transaction 22 December 2017
----- -------------------------- --------------------------
f) Place of the transaction Outside a trading venue
----- -------------------------- --------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
----- ------------------------------------------------------
Name Bill Higgs
a)
----- -------------------------- --------------------------
2 Reason for Notification
----- ------------------------------------------------------
a) Position/status COO
----- -------------------------- --------------------------
b) Initial notification Initial notification
/ Amendment
----- -------------------------- --------------------------
3 Details of the issuers, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ------------------------------------------------------
a) Name Genel Energy plc
----- -------------------------- --------------------------
b) LEI 549300IVCJDWC3LR8F94
----- -------------------------- --------------------------
4 Details of the transaction(s): section
to be replaced for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date (iv) each place where transaction
have been conducted
----- ------------------------------------------------------
a) Description of the Ordinary shares of 10
financial instrument, pence each
type of instrument
Identification code JE00B55Q3P39
----- -------------------------- --------------------------
b) Nature of the transaction Grant of nil-cost options
under the Company's
restricted share plan
----- -------------------------- --------------------------
c) Price(s) and volumes(s) Price Volume
------- --------
Nil 140,000
------- --------
----- -------------------------- --------------------------
d) Aggregated information
-Aggregated volume 200,000
-Price Nil
----- -------------------------- --------------------------
e) Date of the transaction 22 December 2017
----- -------------------------- --------------------------
f) Place of the transaction Outside a trading venue
----- -------------------------- --------------------------
-ends-
For further information, please contact:
Genel Energy
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Vigo Communications
Patrick d'Ancona +44 20 7830 9700
Notes to editors:
Notes to editors: Genel Energy is an independent oil and gas
exploration and production company listed on the main market of the
London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The
Company, with headquarters in London and offices in Ankara and
Erbil, is one of the largest London-listed independent oil
producers, and is the largest holder of reserves and resources in
the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas
fields, the Company is positioned to be a cornerstone provider of
KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel
also continues to pursue further growth opportunities within the
Middle East and Africa. For further information, please refer to
www.genelenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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