Last checked at 30 May 2012 11:19
30th May, 2012
Genel Energy plc (the "Company")
2011 Performance Share Plan ("PSP")
2012 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities
Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4R, the Company granted awards over its ordinary shares of 10 pence nominal value under the PSP on 29th May, 2012 to Persons Discharging Managerial Responsibilities as set out in the table below.
Awards granted to the executive directors in the UK were made in the form of nil-cost options, which become exercisable following the end of a three year performance period, subject to the satisfaction of performance targets. Options are then exercisable until the tenth anniversary of the date of grant.
The award granted to the President in Turkey was made in the form of a conditional share award, and the shares comprised in it will be transferred following the end of a three year performance period, subject to the satisfaction of performance targets.
The performance period will run from 1 January 2012 to 31 December 2014. For further information on the PSP and the performance targets applicable to these awards, please refer to the 2012 Notice of AGM published on 20th April, 2012, a copy of which is available at www.genelenergy.plc.
Name | No. of Shares subject to PSP Award | Lapse Date |
Tony Hayward (executive director) | 123,796 | 29th May, 2022 |
Julian Metherell (executive director) | 79,991 | 29th May, 2022 |
Mehmet Sepil (President) | 97,767 | N/A |
For further information contact:
Natalie Fortescue
Investor Relations
+44 20 7659 5100