16 Apr 2020 16:30
Premier Oil plc
(the 'Company' or 'Premier')
Vesting of Deferred Bonus Awards under theCompany's 2017 Long Term Incentive Plan ("2017 LTIP")
Premier announces that the Deferred Bonus Awards listed below (the "Awards") vested on 12 April 2020 pursuant to the Rules of the 2017 LTIP.
The Awards were granted in April 2017 in respect of bonus amounts above 50 per cent of salary awarded to Executive Directors for the financial year ending 31 December 2016. In accordance with the Company's 2017 Remuneration Policy, these awards were subject to a three year deferral period which has now ended.
The tax and National Insurance liabilities arising on the release of the Awards were settled by withholding a sufficient number of shares to cover those liabilities. The net number of shares were then released to participants as indicated below.
| Gross number of shares vesting | Shares withheld to cover tax liabilities | Net number of shares released | Gross value at award (12/04/2017) | Gross value on release (14/04/2020) |
Robin Allan | 77,357 | 41,496 | 35,861 | £50,940 | £21,405 |
Tony Durrant | 142,574 | 67,010 | 75,564 | £93,885 | £39,450 |
Richard Rose | 72,437 | 39,244 | 33,193 | £47,700 | £20,043 |
Daniel RosePremier Oil plc+44 (0)20 7730 1111
The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Robin Allan | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director, North Sea and Exploration | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Shares withheld to cover tax and National Insurance liabilities following the vesting of Deferred Bonus Awards under the 2017 LTIP; and (i) Net shares released following the vesting of Deferred Bonus Awards under the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
77,357 £0.00 | ||||
e) | Date of the transaction | 14th April 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Tony Durrant | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Shares withheld to cover tax and National Insurance liabilities following the vesting of Deferred Bonus Awards under the 2017 LTIP; and (ii) Net shares released following the vesting of Deferred Bonus Awards under the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
142,574 £0.00 | ||||
e) | Date of the transaction | 14th April 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Richard Rose | ||||
2 | Reason for the notification | |||||
a) | Position/status | Finance Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Shares withheld to cover tax and National Insurance liabilities following the vesting of Deferred Bonus Awards under the 2017 LTIP; and (ii) Net shares released following the vesting of Deferred Bonus Awards under the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
72,437 £0.00 | ||||
e) | Date of the transaction | 14th April 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||