Director/PDMR Shareholding

RNS Number : 6572K

Harbour Energy PLC

06 May 2022

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Harbour Energy plc

(the "Company", "Harbour")

Vesting of Conditional Share Award

Harbour today announces that the first one-third increment of the Conditional Share Award ("CSA") made to Linda Cook on 4 May 2021 has vested. The CSA was awarded to compensate Linda for incentive arrangements forfeited on stepping down from her role as Managing Director of EIG Global Energy Partners ("EIG").

The CSA was made in accordance with the Company's Remuneration Policy for the recruitment of a new executive director and was made under the terms of the Company's 2017 Long Term Incentive Plan. The vesting of the CSA is in one-third increments with the second and third increments vesting on 4 May 2023 and 4 May 2024 respectively.

As the vesting of shares under the CSA would, at the current time, give rise to the prospect of an obligation under Rule 9 of The Takeover Code, the Company will settle the first third of the CSA in cash, as allowed under the terms of the award.

Director	Shares vesting	Market price at vesting	Shares notionally withheld to cover statutory deductions	Net number of shares released and settled in cash
Linda Z Cook	385,284	£5.00	151,610	233,674

Enquiries

Harbour Energy plc  Tel: [phone]

Elizabeth Brooks, Head of Investor Relations

Rachel Rickard, Company Secretary

Brunswick Group 

Patrick Handley  Tel: [phone]

Will Medvei  Tel: [phone]

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	Linda Z Cook
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	Harbour Energy 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 0.002 pence each GB00BMBVGQ36
b)	Nature of the transaction	(i)  Shares withheld to cover statutory deductions following the vesting of a Conditional Share Award under 2017 LTIP; and (ii)  Net shares released and settled in cash following the vesting of a Conditional Share Award under the 2017 LTIP.
c)	Price(s) and volume(s)	Price(s) Volume(s) (i)  £5.00 (ii)  £5.00 151,610 233,674
d)	Aggregated information - Aggregated volume - Price	385,284 £5.00
e)	Date of the transaction	2022-05-04
f)	Place of the transaction	Outside of trading venue

 

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