Director's Interests

RNS Number : 7992I

BowLeven Plc

21 June 2017

 

21 June 2017                                  

Bowleven plc ("Bowleven" or "the Company")

Director's Interests

Bowleven announces that, on 19 June 2017, a total of 480,000 ordinary shares of £0.10 each in the Company ("Shares") vested in favour of David Clarkson, Chief Operating Officer ("the Director") under the terms of Bowleven's 2006 Long Term Incentive Plan ("the Plan").   This vesting related to an award that was granted to him under the Plan on 4 December 2013 ("the Award").  As announced on 21 December 2016, the vesting of the Award (which was originally subject to a performance target measured over the three years from grant) was deferred and made subject to the satisfaction of an additional condition over the period ending on 4 June 2017.  Following the expiry of this period, it was determined that the Award vested in full.  

The vesting of the Award has been satisfied by the transfer of Shares to the Director by the trustee of the Company's Employee Benefit Trust.  The Director subsequently instructed to sell only such number of the Shares as was necessary to account for tax payable on the vesting of the Award.  Following the vesting and sale, the beneficial interests of the Director in the Shares of the Company are set out below.

Director	Previous Shareholding	Current Shareholding	% issued share capital (excl. treasury shares)
David Clarkson	379,753	664,695	0.20

ENQUIRIES

For further information, please contact:

Bowleven plc

Christopher Ashworth, Chairman                                             00 44 131 524 5678

Eli Chahin, Chief Executive

Brunswick Group LLP

Patrick Handley                                                                            00 44 207 404 5959

Will Rowberry                                                                  

Cenkos Securities plc (NOMAD)                                               

Derrick Lee                                                                                     00 44 131 220 6939

Neil McDonald

 

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Clarkson
2	Reason for the notification
a)	Position/status	PDMR (Chief Operating Officer)
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bowleven plc
b)	LEI	213800UITVIP4EWSPE58
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	Ordinary shares of 10p each ("Shares")
	Identification code	GB00B04PYL99
b)	Nature of the transaction	Acquisition of Shares following the vesting of awards granted on 4 December 2013 pursuant to the terms of the Bowleven 2006 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0 480,000
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	19 June 2017
f)	Place of the transaction	London Stock Exchange
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	Ordinary shares of 10p each ("Shares")
	Identification code	GB00B04PYL99
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.2811 195,058
d)	Aggregated information -   Aggregated volume -   Price	Not applicable
e)	Date of the transaction	20 June 2017
f)	Place of the transaction	London Stock Exchange

 

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