Serica Energy PLC Long Term Incentive Plan Awards (9349Z)
19 May 2023 - 12:09AM
UK Regulatory
TIDMSQZ
RNS Number : 9349Z
Serica Energy PLC
18 May 2023
18 May 2023
Serica Energy plc
("Serica" or "the Company")
Long Term Incentive Plan Awards
London, 18 May 2023 - Serica Energy plc (AIM: SQZ) announces
that the Company has granted nil-cost options over a total of
1,075,668 ordinary shares of US$0.10 each (representing
approximately 0.2% of the Company's issued share capital) in
accordance with the rules of the Serica Energy plc 2017 Long Term
Incentive Plan ("LTIP"). The award has been made to members of the
Group's executive team and senior management.
These awards include a total of 472,777 ordinary shares of
US$0.10 each for the executive directors as set out in the table
below and are subject to vesting criteria that are designed to
incentivise performance that delivers value for all
shareholders.
The vesting criteria are based on absolute share price
performance over a three-year period and specific performance
targets related to carbon emissions from operations over the same
period. For the awards to vest in full, the highest average share
price must be at least equal to 500p during the 180 day period
terminating on the end of the performance period together with a
significant decrease in carbon emissions per barrel of oil
equivalent produced.
Director / PDMR Position Number of shares awarded
Mitch Flegg Chief Executive Officer 319,444
Andy Bell Chief Financial Officer 153,333
The notifications below, made in accordance with the
requirements of the Market Abuse Regulation, provide further
detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mitch Flegg
---------------------------------------- ------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Chief Executive Officer
---------------------------------------- ------------------------------
b) Initial notification/Amendment Initial Notification
---------------------------------------- ------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Serica Energy plc
---------------------------------------- ------------------------------
b) LEI 213800EZZOKA815VC426
---------------------------------------- ------------------------------
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 Ordinary shares of US$0.10
instrument, type of instrument per share par value
---------------------------------------- ------------------------------
Identification code GB00B0CY5V57
---------------------------------------- ------------------------------
b) Nature of the transaction Award of options under the
LTIP
---------------------------------------- ------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- -------------- --------------
N/A 319,444
------------------------------------------------------------ --------------
d) Aggregated information N/A (single transaction)
---------------------------------------- ------------------------------
Aggregated volume
-------------------------------------------------------- -------------------
Price
-------------------------------------------------------- -------------------
e) Date of the transaction 18 May 2023
---------------------------------------- ------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------------- ------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
Name Andy Bell
-----------------------------------
Reason for the notification
Position/status Chief Financial Officer
-----------------------------------
Initial notification/Amendment Initial Notification
-----------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name Serica Energy plc
-----------------------------------
LEI 213800EZZOKA815VC426
-----------------------------------
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
Description of the financial Ordinary shares of US$0.10 per
instrument, type of instrument share par value
-----------------------------------
Identification code GB00B0CY5V57
-----------------------------------
Nature of the transaction Award of options under the LTIP
-----------------------------------
Price(s) and volumes(s) Price(s) Volume(s)
----------------- ----------------
N/A 153,333
----------------------------------------------------------- ----------------
Aggregated information N/A (single transaction)
-----------------------------------
Aggregated volume
----------------
Price
----------------
Date of the transaction 18 May 2023
-----------------------------------
Place of the transaction Outside a trading venue
-----------------------------------
Enquiries:
+44 (0)20 7390
Serica Energy plc 0230
Mitch Flegg (CEO) / Andy Bell (CFO)
+44 (0)20 7418
Peel Hunt (Nomad & Joint Broker) 8900
Richard Crichton / David McKeown
+44 (0)20 7029
Jefferies (Joint Broker) 8000
Tony White / Will Soutar
+44 (0)20 7390
Vigo Consulting (PR Advisor) 0230
Patrick d'Ancona / Finlay Thomson serica@vigoconsulting.com
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END
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