7 May 2019
Genel Energy plc (the Company)
2019 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities (PDMRs)
Pursuant to the notification obligations under EU Market Abuse Regulations Article 19.1, the Company granted awards over its ordinary shares of 10 pence each under the Performance Share Plan ('PSP') and Restricted Share Plan ('RSP') on 7 May 2019 to the PDMR set out below.
PSP awards granted to PDMRs 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.
PSP awards granted to PDMRs in Turkey were made in the form of a nil-cost conditional share award, and will be transferred following the end of a three year performance period, subject to the satisfaction of performance targets.
The PSP performance period will run from 7 May 2019 to 6 May 2022.
RSP awards granted to PDMRs in the UK were made in the form of nil-cost options and become exercisable in three tranches; 25% on the first anniversary of the award, 25% on the second anniversary of the award and 50% on the third anniversary of the award.
RSP awards granted to PDMRs in Turkey were made in the form of a nil-cost conditional share award and the shares comprised in it will be transferred in three tranches; 25% on the first anniversary of the award, 25% on the second anniversary of the award and 50% on the third anniversary of the award.
Following vesting, all shares are retained for an additional two years for Executive Committee members under the Company's Retention Policy.
Following vesting, shares are subject to the Company's retention policy.
The PSP awards are as follows:
| Name | No. of shares subject to PSP Award | Total number of shares over which options/awards are held following notification |
| Bill Higgs | 356,342 | 1,016,146 |
| Esa Ikaheimonen | 283,930 | 1,555,200 |
| Pars Kutay | 207,413 | 1,666,647 |
RSP awards:
| Name | No. of shares subject to RSP Award | Total number of shares over which options/awards are held following notification |
| Bill Higgs | 174,585 | 1,016,146 |
| Pars Kutay | 159,548 | 1,666,647 |
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
| a) | Name | Bill Higgs |
| 2 | Reason for Notification |
| a) | Position/status | CEO |
| b) | Initial notification / Amendment | Initial notification |
| 3 | Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Genel Energy plc |
| b) | LEI | 549300IVCJDWC3LR8F94 |
| 4 | Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each JE00B55Q3P39 |
| b) | Nature of the transaction | Grant of a nil-cost options under the Company's performance share plan |
| c) | Price(s) and volumes(s) | |
| d) | Aggregated information -Aggregated volume -Price | 356,342 Nil |
| e) | Date of the transaction | 7 May 2019 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
| a) | Name | Bill Higgs |
| 2 | Reason for Notification |
| a) | Position/status | CEO |
| b) | Initial notification / Amendment | Initial notification |
| 3 | Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Genel Energy plc |
| b) | LEI | 549300IVCJDWC3LR8F94 |
| 4 | Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each JE00B55Q3P39 |
| b) | Nature of the transaction | Grant of a nil-cost options under the Company's restricted share plan |
| c) | Price(s) and volumes(s) | |
| d) | Aggregated information -Aggregated volume -Price | 174,585 Nil |
| e) | Date of the transaction | 7 May 2019 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
| a) | Name | Esa Ikaheimonen |
| 2 | Reason for Notification |
| a) | Position/status | CFO |
| b) | Initial notification / Amendment | Initial notification |
| 3 | Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Genel Energy plc |
| b) | LEI | 549300IVCJDWC3LR8F94 |
| 4 | Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each JE00B55Q3P39 |
| b) | Nature of the transaction | Grant of nil-cost options under the Company's performance share plan |
| c) | Price(s) and volumes(s) | |
| d) | Aggregated information -Aggregated volume -Price | 283,390 Nil |
| e) | Date of the transaction | 7 May 2019 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
| a) | Name | Pars Kutay |
| 2 | Reason for Notification |
| a) | Position/status | Head of Government & Public Affairs |
| b) | Initial notification / Amendment | Initial notification |
| 3 | Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Genel Energy plc |
| b) | LEI | 549300IVCJDWC3LR8F94 |
| 4 | Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each JE00B55Q3P39 |
| b) | Nature of the transaction | Grant of a nil-cost contingent share award under the Company's performance share plan |
| c) | Price(s) and volumes(s) | |
| d) | Aggregated information -Aggregated volume -Price | 207,413 Nil |
| e) | Date of the transaction | 7 May 2019 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
| a) | Name | Pars Kutay |
| 2 | Reason for Notification |
| a) | Position/status | Head of Government & Public Affairs |
| b) | Initial notification / Amendment | Initial notification |
| 3 | Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor |
| a) | Name | Genel Energy plc |
| b) | LEI | 549300IVCJDWC3LR8F94 |
| 4 | Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10 pence each JE00B55Q3P39 |
| b) | Nature of the transaction | Grant of a nil-cost contingent share award under the Company's restricted share plan |
| c) | Price(s) and volumes(s) | |
| d) | Aggregated information -Aggregated volume -Price | 159,548 Nil |
| e) | Date of the transaction | 7 May 2019 |
| f) | Place of the transaction | Outside a trading venue |
-ends-
For further information please contact:
| Genel Energy Andrew Benbow, Head of Communications | +44 20 7659 5100 |
| | |
| Vigo Communications Patrick d'Ancona | +44 20 7830 9700 |
Notes to editors:
Genel Energy is an independent oil and gas exploration and production company listed on the main
market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Genel has highly cash-generative oil production from the Taq Taq and Tawke licences, with material growth potential from other assets in the portfolio. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.
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