Last checked at 21 Jun 2017 16:37
21 June 2017
Bowleven plc ("Bowleven" or "the Company")
Director's Interests
Bowleven announces that, on 19 June 2017, a total of 480,000 ordinary shares of £0.10 each in the Company ("Shares") vested in favour of David Clarkson, Chief Operating Officer ("the Director") under the terms of Bowleven's 2006 Long Term Incentive Plan ("the Plan"). This vesting related to an award that was granted to him under the Plan on 4 December 2013 ("the Award"). As announced on 21 December 2016, the vesting of the Award (which was originally subject to a performance target measured over the three years from grant) was deferred and made subject to the satisfaction of an additional condition over the period ending on 4 June 2017. Following the expiry of this period, it was determined that the Award vested in full.
The vesting of the Award has been satisfied by the transfer of Shares to the Director by the trustee of the Company's Employee Benefit Trust. The Director subsequently instructed to sell only such number of the Shares as was necessary to account for tax payable on the vesting of the Award. Following the vesting and sale, the beneficial interests of the Director in the Shares of the Company are set out below.
Director | Previous Shareholding | Current Shareholding | % issued share capital (excl. treasury shares) |
David Clarkson | 379,753 | 664,695 | 0.20 |
ENQUIRIES
For further information, please contact:
Bowleven plc
Christopher Ashworth, Chairman 00 44 131 524 5678
Eli Chahin, Chief Executive
Brunswick Group LLP
Patrick Handley 00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)
Derrick Lee 00 44 131 220 6939
Neil McDonald
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | David Clarkson | ||||
2 | Reason for the notification | |||||
a) | Position/status | PDMR (Chief Operating Officer) | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bowleven plc | ||||
b) | LEI | 213800UITVIP4EWSPE58 | ||||
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 instrument, type of instrument | Ordinary shares of 10p each ("Shares") | ||||
Identification code | GB00B04PYL99 | |||||
b) | Nature of the transaction | Acquisition of Shares following the vesting of awards granted on 4 December 2013 pursuant to the terms of the Bowleven 2006 Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 19 June 2017 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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 instrument, type of instrument | Ordinary shares of 10p each ("Shares") | ||||
Identification code | GB00B04PYL99 | |||||
b) | Nature of the transaction | Sale of Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 20 June 2017 | ||||
f) | Place of the transaction | London Stock Exchange | ||||