Grant of options under Long Term Incentive Plan

RNS Number : 8438L

Rockhopper Exploration plc

24 April 2018

 

24 April 2018

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Grant of options under Long Term Incentive Plan

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region, announces that on 23 April 2018 certain Directors were granted awards in the form of options to acquire Shares under the Company's Long Term Incentive Plan ("LTIP") which has been operated annually since its approval by shareholders at the 2013 Annual General Meeting.

Details of the awards are shown below:

Name	Number of options under award
Sam Moody (CEO)	2,100,000
Stewart MacDonald (CFO)	1,900,000

The awards are structured as nil-cost options and, subject to meeting specific performance criteria as outlined below, will normally vest three years after the date of grant.

The percentage of awards which will vest will be dependent on total shareholder return measured against a peer group of companies over a three year period ending on 31 March 2021. Performance measurement for these awards will be based on the Company's average share price over the 90 day dealing period to 31 March 2018 measured against the average share price for the 90 day dealing period to 31 March 2021. No awards will vest in the event that the Company's total shareholder return is below the median of its peer group over the three year measurement period. In the event that the awards vest, the vested awards will normally remain exercisable for a period of seven years subject to the rules of the LTIP regarding leavers.  

Set out below is the information required by Article 19(3) of the EU Market Abuse Regulation No 596/2014 in relation to the award of options over Shares to certain Directors under the Company's LTIP: 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Samuel Moody
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	Rockhopper Exploration plc
b)	LEI	213800IPXW6XRLVCL581
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 1 pence each GB00BOFVQX23
b)	Nature of the transaction	Award of options over Ordinary Shares of 1 pence each
c)	Price(s) and volume(s)	Date of transaction: 23 April 2018 Price: Nil Volume: 2,100,000
d)	Aggregated information	Date of transaction: 23 April 2018 Aggregated volume: 2,100,000 Price: Nil
e)	Date of the transaction	23 April 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stewart MacDonald
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	Rockhopper Exploration plc
b)	LEI	213800IPXW6XRLVCL581
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 1 pence each GB00BOFVQX23
b)	Nature of the transaction	Award of options over Ordinary Shares of 1 pence each
c)	Price(s) and volume(s)	Date of transaction: 23 April 2018 Price: Nil Volume: 1,900,000
d)	Aggregated information	Date of transaction: 23 April 2018 Aggregated volume: 1,900,000 Price: Nil
e)	Date of the transaction	23 April 2018
f)	Place of the transaction	Outside a trading venue

The Company announces that the performance period for the LTIP awards granted on 13 April 2015 to certain Directors and employees has ended and none of the awards have vested.  

A summary of the LTIP is included in the 2013 AGM notice which can be found on the Company's website and in the 2017 Annual Report.

Enquiries:

Rockhopper Exploration plc

Jan Davies, Company Secretary

Tel. [phone] (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor

James Asensio

Tel. [phone]

Peel Hunt LLP (Joint Broker)

Richard Crichton

Tel. [phone]

Vigo Communications

Patrick d'Ancona

Ben Simons

Tel. [phone]

 

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