Business
Notification of Transactions by DMRs
Notification of Transactions by DMRs.
About this update from Seplat Energy Plc
[{"type":"text","content":"\n \nRNS Number : 2631T SEPLAT Petroleum Development Co PLC 24 March 2016 \n\nSeplat Petroleum Development Company plc\n(\"Seplat\" or the \"Company\")\nNotification of Transactions by Directors/Persons Discharging Managerial Responsibility \n2016 Share Awards granted under the under the 2014 Long-Term Incentive Plan (\"LTIP\")\nThe following share awards have been provisionally granted to Executive Directors of the Company on 24th March 2016. No consideration was paid for the grant of the awards and no consideration is due on the vesting of awards. These share awards are subject to final NSE approval. \n \n\n\n\n\nName\n\n\nPosition\n\n\nNumber of performance related share awards granted under the Seplat Long-Term Incentive Plan*\n \n.\n \n\n\nNumber of share awards granted in 2016 relating to annual bonus for the year ending 31st December 2015*\n\n\n\n\nAustin Avuru\n\n\nChief Executive Officer\n\n\n1,621,536\n\n\n134,849\n\n\n\n\nStuart Connal\n\n\nChief Operations Officer\n\n\n985,894\n\n\n56,935\n\n\n\n\nRoger Brown\n\n\nChief Financial Officer\n\n\n985,894\n\n\n55,826\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n* Share awarded calculated by reference to share price of £0.99\n \nThe share awards will normally vest on the third anniversary of the date of grant subject to the achievement of stretching performance targets set by reference to relative Total Shareholder Return against a comparator group of listed E&P companies and an underpin linked to reserves growth. Vested shares will be subject to an additional two year holding period in line with corporate governance best practice. Under the remuneration policy approved by shareholders, 25% of the annual bonus paid for a financial year is deferred into shares and released in three years subject to continued employment in line with corporate governance best practice. No consideration was paid for the grant of these awards and no consideration is due on the vesting of awards.\n \nDetails of outstanding share awards granted since IPO\n \nSet out below are details of all outstanding share awards granted to Executive Directors and shares allotted to the Non-Executive Directors since the date of IPO.\nGlobal Offer Bonus share awards under the 2014 Long-Term Incentive Plan (\"LTIP\")\nThe Chairman a...