21 Jun 2017 07:00
21 June 2017
PRESIDENT ENERGY PLC
("President" or "the Company")
Award of Options
President announces that it has granted share options to acquire ordinary shares in the Company to the following persons discharging management responsibilities together with other senior management in accordance with the Company's Global Incentive Plan ("GIP").
The options are subject to standard conditions under the GIP including share price performance targets, three year vesting periods and have an exercise price of 6.175p, being the market closing share price of yesterday.
In making this award the remuneration committee has noted that 10,650,667 previously issued options have lapsed or have been cancelled since the Company's last award of options announcement in July 2016.
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Executive | No. of Options Awarded | No. of Total Options |
Bruce Martin Group Chief Financial Officer | 2,000,000 | 2,000,000 |
David Scott Daspit VP Operations USA | 3,000,000 | 3,000,000 |
Senior Management (Non PDMRs) | 5,750,000 | 5,750,000 |
Each of the awarded options have a share price performance condition, for each equal one third tranche, of 9.26p (first tranche), 13.89p (second tranche) and 18.06p (third tranche).
In total, including existing awards and adjustments for lapsed or cancelled option awards, the number of options granted to management to acquire ordinary shares is now 40,775,333 or 4.3% of the Company's issued share capital.
The following disclosures are made in accordance with Article 19.3 of the EU Market Abuse Regulation 596/2014.
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Contact:
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President Energy PLC Peter Levine, Chairman Miles Biggins, COO Â | Â +44 (0) 207 016 7950 +44 (0) 207 016 7950 Â
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Peel Hunt LLP (Nominated Advisor & Joint Broker) Richard Crichton, Ross Allister  |  +44 (0) 207 418 8900 |
BMO Capital Markets (Joint Broker) Jeremy Low, Tom Rider  |  +44 (0) 207 236 1010  |
Vigo Communications Chris McMahon Patrick d'Ancona | +44 (0) 207 830 9700 |
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Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
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1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | Bruce Martin | ||||
2. | Reason for the notification | |||||
a. | Position/status | Chief Financial Officer - PMDR | ||||
b. | Initial notification /Amendment | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | President Energy plc | ||||
b. | LEI | 213800MA2ZN22I4ITA79 | ||||
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 1p each ISIN: GB00B3DDP128 Â Â | ||||
b. | Nature of the transaction | Share options in accordance with the Company's Global Incentive Plan. Â Â | ||||
c. | Price(s) and volume(s) | Â
 | ||||
d. | Aggregated information · Aggregated volume · Price  |  Â
 | ||||
e. | Date of the transaction | 20/06/2017 | ||||
f. | Place of the transaction | Outside a trading venue. Â | ||||
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5. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a. | Name | David Scott Daspit | ||||
6. | Reason for the notification | |||||
a. | Position/status | VP Operations USA - PMDR | ||||
b. | Initial notification /Amendment | Initial Notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | President Energy Plc | ||||
b. | LEI | 213800MA2ZN22I4ITA79 | ||||
8. | 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 1p each ISIN: GB00B3DDP128 Â Â | ||||
b. | Nature of the transaction | Share options in accordance with the Company's Global Incentive Plan. Â Â | ||||
c. | Price(s) and volume(s) | Â
 | ||||
d. | Aggregated information · Aggregated volume · Price  |  Â
 | ||||
e. | Date of the transaction | 20/06/2017 | ||||
f. | Place of the transaction | Outside a trading venue. Â | ||||
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PPC.L (PPC)