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6 May 2015 12:26
6 May 2015
Petropavlovsk PLC (the "Company")
Long-Term Incentive Plan - Deferred Bonus Award
Petropavlovsk PLC (the 'Company' or together with its subsidiaries the 'Group') announces that Dr Pavel Maslovskiy, Chief Executive Officer, has been granted a Deferred Bonus Award under the Company's Long-Term Incentive Plan in respect of his performance for the year ended 31 December 2014, including his critical role in the refinancing of the Group's US$310.5 million 4% Convertible Bonds due 2015.
Under the Deferred Bonus Award, 50% of Dr Maslovskiy's bonus has been settled in ordinary shares of the Company with the transfer of such shares deferred for a period of 12 months and subject to Dr Maslovskiy's continued employment with the Company during this period. Full details of this award are contained in the Directors' Remuneration Report in the Company's Report and Accounts for the year ended 31 December 2014, a copy of which is available on the Company's website at www.petropavlovsk.net.
Date of Award | Deferred Bonus | Number of Ordinary Shares awarded |
1 May 2015 | £277,500 | 4,648,241 |
The number of ordinary shares awarded was based on the mid-market closing share price of Petropavlovsk PLC on 1 May 2015, being 5.97 pence.
Enquiries
Petropavlovsk PLC +44 (0) 20 7201 8900
Alya Samokhvalova - Group Head of External Communications
Amanda Whalley - Company Secretary
Maitland +44 (0) 20 7379 5151
Neil Bennett
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