18 Apr 2017 09:30
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Premier Oil plc (the "Company") hereby notifies the market of the following transactions of which it has been notified under Article 19.1 of the EU Market Abuse Regulation ("MAR").
Grant of Performance Share Awards and Equity Pool Awards
Performance Share Awards and Equity Pool Awards (the "Awards") were granted to the Executive Directors named below on 12 April 2017 under the Company's 2009 Long Term Incentive Plan (the "2009 LTIP"). The Awards were approved in principle by the Remuneration Committee on 25 August 2016 with the grant of the Awards being postponed due to dealing restrictions as a result of the ongoing refinancing of the Group's debt.
The Awards will only vest if certain performance conditions are met. Details of these performance conditions are set out in the Directors' Remuneration Report within the 2016 Annual Report and Financial Statements.
The earliest vesting date for the Awards is 1 January 2019. 50% of any shares vesting from the Awards will be subject to a mandatory deferral period of three years and will not be eligible for a discretionary Matching Share Award.
Grant of Deferred Bonus Awards
Deferred Bonus Awards were granted to the Executive Directors named below on 12 April 2017 in relation to 2016 annual bonus payments above 50% of salary. The Deferred Bonus Awards vest three years from the date of grant.
Andy GibbGroup General Counsel/Company SecretaryPremier 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 | 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) An award of 6.00 Equity Pool Participation Points (6% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and (ii) A Deferred Bonus Award in relation to the 2016 annual bonus payment. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
710,438 Nil | ||||
e) | Date of the transaction | 2017-04-12 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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) An award of 4.25 Equity Pool Participation Points (4.25% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and (ii) A Deferred Bonus Award in relation to the 2016 annual bonus payment. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
371,560 Nil | ||||
e) | Date of the transaction | 2017-04-12 | ||||
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) An award of 4.25 Equity Pool Participation Points (4.25% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and (ii) A Deferred Bonus Award in relation to the 2016 annual bonus payment. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
321,937 Nil | ||||
e) | Date of the transaction | 2017-04-12 | ||||
f) | Place of the transaction | Outside a trading venue | ||||