Enteq Upstream PLC Director/PDMR Shareholding (3361O)
18 August 2017 - 1:44AM
UK Regulatory
TIDMNTQ
RNS Number : 3361O
Enteq Upstream PLC
17 August 2017
Enteq Upstream plc
(the "Company" or the "Group")
Awards under the Enteq Upstream plc Performance Share Plan
("PSP")
Enteq Upstream plc announces that its Remuneration Committee
approved a further grant of awards under the Performance Share Plan
("PSP") that came into effect on 17 August 2017. The PSP was
initially approved on 17 September 2014 and applies to the
Executive Directors as well as other Executive Managers.
The awards pursuant to the PSP, combined with the on-going all
employee share option scheme already in existence, will remain
within the overall limits already approved by the Company's
shareholders.
This further grant has a vesting date of 31 March 2020. The
performance condition relates solely to the achievement of a
cumulative adjusted EBITDA target. This target is set and monitored
by the Remuneration Committee and an aggregated adjusted EBITDA
covering each of the financial years ending 31 March 2018, 31 March
2019 and 31 March 2020 will need to be achieved. The consideration
payable for these awards is 1p per ordinary share of 1p each in the
capital of the Company ("Ordinary Shares").
Martin Perry (CEO) was provisionally granted, subject to the
performance conditions and rules of the scheme, a maximum of
540,000 Ordinary Shares, taking the total granted under the PSP to
date, to 1,458,219 Ordinary Shares. David Steel (Finance Director)
was provisionally granted, subject to the performance conditions
and rules of the scheme, a maximum of 270,000 Ordinary Shares,
taking his total granted under the PSP, to date, to 658,664
Ordinary Shares.
For further information, please contact:
Enteq Upstream plc +44 (0) 1494 618739
Martin Perry, Chief Executive Officer
David Steel, Finance Director
Investec Bank plc (Nomad and Broker) +44
(0) 20 7597 5970
Chris Treneman, Patrick Robb, David Anderson
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------
a) Name 1. Martin Perry
2. David Steel
--- ------------------------------- ------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Finance Director
--- ------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- ---------------------------------------------------------------------
a) Name Enteq Upstream
--- ------------------------------- ------------------------------------
b) LEI n/a
--- ------------------------------- ------------------------------------
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 Options over ordinary
instrument, type of shares of 1 pence each
instrument GB00B41Q8Q68
Identification code
--- ------------------------------- ------------------------------------
b) Nature of the transaction Issue of options
--- ------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- -----------------------
GBP0.01 1. 540,000
2. 270,000
--------- -----------------------
--- ------------------------------- ------------------------------------
d) Aggregated information Not applicable - single
transaction
--- ------------------------------- ------------------------------------
e) Date of the transaction 17 August 2017
--- ------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- ------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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