3 Mar 2014 14:00
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
Premier Oil plc ("the Company")
Long Term Incentive Plan - Performance Share Awards
Performance Share Awards (the "Awards") have been made to the Executive Directors and Persons Discharging Managerial Responsibility named below under the Company's Long Term Incentive Plan (the "Plan"). The Awards were made on 28 February 2014 in London using the closing middle market quotation for shares in the Company on 27 February 2014 and have a value of up to 150% of salary. The awards are subject to a Total Shareholder Return ("TSR") performance condition which will require the Company's TSR to be at least at the median of a comparator group comprising approximately 30 other oil companies. The performance period for these awards runs from 1 January 2014 to 31 December 2016. 50% of any shares vesting under the Awards will be subject to a mandatory deferral period of three years for Executive Directors, PDMRs, and other members of senior management.
Director | Share Price used to calculate award (Closing MMQ27 February 2014) | Number of Performance Shares awarded under the Plan |
Simon Lockett | £3.031 | 281,590 |
Robert Allan | £3.031 | 145,888 |
Anthony Durrant | £3.031 | 159,394 |
Neil Hawkings | £3.031 | 145,888 |
Andrew Lodge | £3.031 | 145,888 |
Date Company informed of transactions: 28 February 2014
Date of notification: 3 March 2014
Rachel Benjamin
Premier Oil plc
+44 (0)20 7730 1111
Copies of Premier's announcements are available on the corporate website: www.premier-oil.com.