LTIP5 Jun 2024 17:22
Happy for them to get going on this now...😀
London, 24 May 2024 - Serica Energy plc (AIM: SQZ) announces that the Company has granted nil-cost options over a total of 1,291,130 ordinary shares in accordance with the rules of the Serica Energy plc 2017 Long Term Incentive Plan ("LTIP"). The total awards above include a nil-cost option over a total of 274,574 ordinary shares of US$0.10 each to the Company's Chief Financial Officer.
The awards are subject to performance vesting criteria that are designed to incentivise performance that delivers value for all shareholders.
The performance vesting criteria include sliding scale measures of share price performance (35% weighting) and of relative total shareholder return performance (35% weighting), in each case, in respect of a three year period ending at the end of April 2027; together with annual emissions intensity targets (30% weighting) in respect of 2024, 2025 and 2026. For the awards to vest in full, the 90 day end average share price must be at least equal to 400p,
The awards have a normal vesting of date of 23 May 2027