TIDMGKP
RNS Number : 3558U
Gulf Keystone Petroleum Ltd.
01 April 2021
1 April 2021
Gulf Keystone Petroleum Limited (LSE: GKP)
("Gulf Keystone" or "the Company")
Long Term Incentive Plan ("LTIP") Award
LTIP
Gulf Keystone Petroleum Limited announces that pursuant to the
2014 Gulf Keystone Long Term Incentive Plan, on 1 April 2021 (the
"Award Date") awards over common shares ("2021 Awards") were
granted to employees and the persons discharging managerial
responsibilities ("PDMRs") listed below.
The LTIP was approved by Gulf Keystone Petroleum Limited's
shareholders at the Company's Annual General Meeting held on 17
July 2014; this is the fourth award to be made under the LTIP and
is in accordance with the agreed annual issue cycle which follows
release of the Company's full year results. The awards are made to
eligible employees of the wider workforce, including to employees
in Kurdistan.
The quantum of 2021 Awards was determined based on a price of
178.6p being the closing mid-market price of the Company on 31
March 2021. The vesting date for the 2021 Awards is 1 April 2024,
being the third anniversary from the Award Date. The 2021 Awards
are in the form of nil cost options and vesting of them will be in
accordance with performance conditions. No consideration is payable
for the grant of an Award.
Performance Conditions
Vesting of the 2021 Awards is subject to both absolute and
relative total shareholder return ("TSR") targets being met, each
measure having a 50% weighting. TSR will be measured over the
period of three years from the Award Date . In accordance with
recent governance guidelines, the Remuneration Committee has the
discretion to review vesting outcomes to ensure a fair reflection
of performance.
Awards
The following PDMRs have been granted 2021 Awards under the
LTIP:
Name Position Number of awards
Jane Barker HR Director 90,585
--------------------------- -----------------
Stuart Catterall Chief Operating Officer 174,692
--------------------------- -----------------
Ross Deutscher Country Manager Kurdistan 86,294
--------------------------- -----------------
Jon Harris Chief Executive Officer 470,325
--------------------------- -----------------
Nadzeya Kernoha Head of Finance 76,148
--------------------------- -----------------
Gabriel Papineau-Legris Chief Commercial Officer 136,842
--------------------------- -----------------
Mark Parsley Subsurface Manager 79,201
--------------------------- -----------------
Legal Director/Company
Alasdair Robinson Secretary 88,029
--------------------------- -----------------
Ian Weatherdon Chief Financial Officer 305,711
--------------------------- -----------------
In addition to the above, 2021 Awards over a total of 1,244,147
shares in aggregate have also been granted under the LTIP to
eligible employees who are not PDMRs.
Satisfaction of Exercised Awards
In anticipation of the potential exercise of existing vested but
unexercised awards under the SRP and LTIP (2018 award), the Company
has resolved to a) transfer the remaining 1,000,000 treasury shares
as previously detailed to the Company's Employee Benefit Trust
("EBT") and b) issue 500,000 new common shares to be held by the
trustee of the EBT (the "New Common Shares"). The shares issued
will rank pari passu with the existing issued common shares.
Application has been made to the Financial Conduct Authority for
admission of the New Common Shares to the standard listing segment
of the Official List and to the London Stock Exchange for admission
to trading (together "Admission"). It is expected that Admission
will become effective at 8.00 a.m. on or around 7 April 2021.
Following Admission of the New Common Shares , the Company's
issued share capital will consist of 211,870,502 common shares with
no further shares held in Treasury.
The above figure of 211,870,502 may 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 Gulf Keystone under the FCA's Disclosure and
Transparency Rules.
Enquiries:
Celicourt Communications: + 44(0) 20 8434 2754
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
This announcement contains inside information for the purposes
of the UK Market Abuse Regime.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jane Barker
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Human Resources Director
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 90,585
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Stuart Catterall
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 174,692
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Ross Deutscher
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Country Manager - Kurdistan
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 86,294
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jon Harris
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status CEO
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 470,325
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Nadzeya Kernoha
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Head of Finance
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 76,148
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Gabriel Papineau-Legris
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Commercial Officer
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code
ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 136,842
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Mark Parsley
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Subsurface Manager
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 79,201
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Alasdair Robinson
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Legal Director & Company Secretary
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 88,029
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Ian Weatherdon
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status CFO
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Gulf Keystone Petroleum Limited
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the 2014 Long Term
Incentive Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 305,711
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price Single transaction as in 4c) above.
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 April 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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END
DSHUAUURAKUSRAR
(END) Dow Jones Newswires
April 01, 2021 08:35 ET (12:35 GMT)
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