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15 Dec 2014 08:00
Dublin
15 December 2014
Petroceltic International plc
("Petroceltic" or the "Company)
Notification of Awards under the Petroceltic International plc
Performance Share Plan
Petroceltic announces that awards ("Awards") have been granted to directors and staff in the form of nil-cost options under the Company's Performance Share Plan ("PSP") on 12 December 2014 at a price of 127.20 pence, being the average of the Company's closing share price for the preceding five business days. The Awards were approved by the Remuneration Committee of the Company in September 2014 as the Company's scheduled annual share option award for 2014, however, due to the Company being in a close period on that date, the Awards are only now being granted. The following Awards were granted to directors and senior management of the Company:
Name | Position | PSP Awards granted on 12 December 2014(note 1) | Cumulative PSP Awards held |
Brian O'Cathain | Chief Executive Officer | 437,592 | 829,280 |
David Thomas | Chief Operating Officer | 358,751 | 659,563 |
Tom Hickey | Chief Financial Officer | 256,211 | 474,624 |
Notes
1. The Awards will vest in the normal course on 12 December 2017, but only to the extent that certain performance criteria based on the Company's relative total shareholder return, and other conditions, are satisfied over three years from the date of grant;
2. No consideration is payable on the grant or vesting of the Awards; and
3. The Company has 214,094,301 ordinary shares in issue.
Ends
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