Business
Awards under Company's Long-Term Incentive Plan
Awards under Company's Long-Term Incentive Plan.
About this update from Pharos Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 6894M\n Pharos Energy PLC\n 13 May 2020\n \n \n \n \n \n \n \n Pharos Energy plc\n \n \n (\"Pharos\" or the \"Company\" or, together with its subsidiaries, the \"Group\")\n \n \n DIRECTOR/PDMR SHAREHOLDINGS\n \n \n Awards under the Company's Long-Term Incentive Plan\n \n \n \n \n \n The Company announces that on 12 May 2020, its Persons Discharging Managerial Responsibilities (\"PDMRs\") were granted the following nil-cost share awards over ordinary shares of £0.05 each in the Company (\"Shares\") under the Company's 2011 Long Term Incentive Plan (\"LTIP\"). \n \n \n The number of shares under such awards is normally calculated based on a percentage of salary and the share price at the date of grant. The number of shares under these awards this year has instead been calculated using the higher share price at the date of grant of last year's awards (subject to adjustments in relation to exchange rate movements), resulting in the grant being over a significantly lower number of shares than would otherwise be the case.\n \n \n \n \n \n \n \n \n PDMRs\n \n \n \n \n Position\n \n \n \n \n No of LTIP awards granted\n \n \n \n \n \n \n Ed Story\n \n \n \n \n Chief Executive Officer\n \n \n \n \n 1,550,855\n \n \n \n \n \n \n Jann Brown\n \n \n \n \n Managing Director and Chief Financial Officer\n \n \n \n \n 1,550,855\n \n \n \n \n \n \n Dr Mike Watts\n \n \n \n \n Managing Director\n \n \n \n \n 1,550,855\n \n \n \n \n \n \n \n \n These awards will generally vest over three years from the date of grant, subject to the satisfaction of certain performance conditions and a subsequent two-year holding period.\n \n \n For further information, please contact:\n \n \n Pharos Energy plc \n Tel: 0207 603 1515\n \n \n Tony Hunter, Company Secretary\n \n \n Notes to editors \n \n \n Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange. \n \n \n Pharos has production, development and exploration interests in Egypt, Israel and Vietnam.\n \n \n In Egypt, Pharos holds a 100% working interest in the El Fayum oil concession in the low-cost and highly prolific Western Desert, one of Egypt's most established and prolific hydrocarbon basin...