AFR.L Regulatory News (AFR)

 1. 

Name of the issuer: 

AFREN PLC

2. 

State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure (ii) a disclosure made in accordance with section 793 of the Companies Act (2006); or (iii) a disclosure made in accordance with paragraph 26 of the Model Code:

A TRANSACTION NOTIFIED IN ACCORDANCE WITH DTR 3.1.2 R,

3. 

Name of person discharging managerial responsibilities/director:

MR. EGBERT IMOMOH 

4. 

State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person:

N/A 

5. 

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

IN RESPECT OF PERSON REFERRED TO IN 3 ABOVE

6. 

Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY SHARES OF ONE PENNY EACH

7. 

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them;

MR. EGBERT IMOMOH

8 

State the nature of the transaction.

PARTIAL VESTING OF SHARES HELD PURSUANT TO 2008 PERFORMANCE SHARE PLAN AWARD AND SUBSEQUENT SALE OF THE VESTED SHARES

9. 

Number of shares, debentures or financial instruments relating to shares acquired:

176,204 ORDINARY SHARES OF ONE PENNY EACH AWARDED TO MR. EGBERT IMOMOH PURSUANT TO THE 2008 PERFORMANCE SHARE PLAN AWARD

10. 

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage):

0.02% AWARDED TO MR. EGBERT IMOMOH PURSUANT TO THE 2008 PERFORMANCE SHARE PLAN AWARD

11. 

Number of shares, debentures or financial instruments relating to shares disposed.

176,204 ORDINARY SHARES (WHICH WERE SOLD FOLLOWING THE AWARD OF 176,204 SHARES AS SET OUT IN 9 ABOVE)

12. 

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage):

0.02% (SOLD FOLLOWING THE AWARD OF 176,204 SHARES AS SET OUT IN 9 ABOVE)

13. 

Price per share or value of transaction:

NO CONSIDERATION WAS PAID IN RELATION TO THE VESTING OF SHARES UNDER 9 ABOVE.

£1.65 IN RELATION TO THE SALE OF THE SHARES SET OUT IN 11 ABOVE

14. 

Date and place of transaction:

1 JUNE 2011

LONDON

15. 

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 

3,672,246 ORDINARY SHARES

0.37% OF ISSUED SHARE CAPITAL

16. 

Date issuer informed of transaction: 

2 JUNE 2011

17 

Date of grant: 1 JUNE 2008

18. 

Period during which or date on which exercisable: 1 JUNE 2011

19. 

Total amount paid (if any) for grant of the option: 

 NIL

20. 

Description of shares or debentures involved (class and number):

CONDITIONAL AWARD OF 271,084 ORDINARY SHARES PURSUANT TO THE PERFORMANCE SHARE PLAN

21. 

Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise: NIL

22. 

Total number of shares or debentures over which options held following notification: OPTIONS OVER 3,500,000 ORDINARY SHARES UNCHANGED UNDER SHARE OPTION SCHEME.

23. 

Any additional information:

THIS VESTING IS RELATED TO THE THREE YEAR PLAN CYCLE ENDING ON 1 JUNE 2011 AND WAS SUBJECT TO THE SATISFACTION OF TOTAL SHAREHOLDER RETURN (TSR) PERFORMANCE CONDITIONS

24. 

Name of contact and telephone number for queries: 

ELEKWACHI UKWU

 + 44 (0) 20745 197 55

25

Name and signature of duly authorised officer of issuer responsible for making 

Notification:

ELEKWACHI UKWU

26

Date of notification : 3 JUNE 2011