23 Mar 2021 18:30
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 Award listed below (the "Award") vested on 18 March 2021 pursuant to the Rules of the 2017 LTIP.
The Award was granted in March 2018 in respect of the bonus amount above 50 per cent of salary awarded to Richard Rose for the financial year ending 31 December 2017. In accordance with the Company's 2017 Remuneration Policy, this award was subject to a three year deferral period which has now ended.
The tax and National Insurance liabilities arising on the release of the Award were settled by withholding a sufficient number of shares to cover those liabilities. The net number of shares were then released to Richard Rose as indicated below.
| Gross number of shares vesting | Shares withheld to cover tax liabilities | Net number of shares released |
Richard Rose | 129,077 | 60,667 | 68,410 |
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 | Richard Rose | ||||
2 | Reason for the notification | |||||
a) | Position/status | Interim Chief Executive, 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
|
129,077 £0.00 | ||||
e) | Date of the transaction | 18th March 2021 | ||||
f) | Place of the transaction | Outside a trading venue | ||||