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24 Apr 2017 12:56
Seplat Petroleum Development Company plc
24 April 2017
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
Seplat Petroleum Development Company plc
2017 Share Awards granted under the 2014 Long-Term Incentive Plan ("LTIP")
The following awards over ordinary shares of 0.5 Naira each ("Shares") of Seplat Petroleum Development Company plc ("Seplat") were granted under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan ("LTIP") to Executive Directors of the Company on 20 April 2017 as set out below.
The awards will normally vest on 20 April 2020 being the third anniversary of the Award Date subject to relative TSR performance condition and reserves growth underpin.
Name | Position | Number of Shares over which award granted* |
Austin Avuru | Chief Executive Officer | 1,609,375 |
Roger Brown | Chief Financial Officer | 978,500 |
* In line with the approach approved by the Remuneration Committee, the number of shares to be granted was calculated by dividing the monetary value of the salary multiple relevant for each PDMR by the higher of the average share price over Q1 2017 or £1. As the average share price over Q1 2017 was £0.72, the calculation has been performed based on £1 share price.
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Austin Avuru | ||||
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 | Seplat Petroleum Development Company plc | ||||
b) | LEI | 029200711C4S4CB2E982 | ||||
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 Seplat Petroleum Development Company plc of 0.5 Naira eachNGSEPLAT0008 | ||||
b) | Nature of the transaction | Grant of share award under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
1,609,375 ordinary shares of 0.5 Naira each Nil consideration | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Roger Brown | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Seplat Petroleum Development Company plc | ||||
b) | LEI | 029200711C4S4CB2E982 | ||||
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 Seplat Petroleum Development Company plc of 0.5 Naira eachNGSEPLAT0008 | ||||
b) | Nature of the transaction | Grant of share award under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
978,500 ordinary shares of 0.5 Naira each Nil consideration | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Seplat Petroleum Development Company Plc |
|
Dr. Mirian Kachikwu, General Counsel Ngozi Osuzoka (company secretariat) | +234 1 277 0400 Ext 1110 +234 1 277 0400 Ext 1108 |
|
|
FTI Consulting |
|
Ben Brewerton / Sara Powell / James Styles | +44 (0) 203 727 1000seplat@fticonsulting.com |
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