2022 Share Awards granted under the 2014 LTIP

RNS Number : 6120N

Seplat Energy PLC

01 June 2022

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

Seplat Energy PLC ("Seplat" or "Company")

Share Awards granted under the Seplat Energy PLC 2014 Long Term Incentive Plan ("LTIP")

Lagos and London - 1 June 2022: The following awards ("LTIP Awards") over ordinary shares of 0.5 Naira each ("Shares") of Seplat were granted under the LTIP to Executive Directors of the Company on 30 May 2022 (the "Award Date") as set out below using the average share price over the 5-day period prior to the date of grant.  For the avoidance of doubt, as referenced in the 14 March 2022 RNS announcement, the LTIP awards are granted in respect of the 2022 financial year.

Vesting of the LTIP Awards is dependent on the achievement of stretching relative and absolute Total Shareholder Return ("TSR") performance targets, an overall assessment of corporate performance through an underpin and continued employment over a three-year performance period which began on 1 January 2022.  The LTIP Awards will be subject to a two-year post vesting holding period.  Full details of the vesting conditions of these LTIP Awards will be set out in the Director's Remuneration Report included in the Company's 2022 Annual Report.

Name	Position	Total Number of Shares over which the award is granted*
Roger Brown	Chief Executive Officer	1,733,345
Emeka Onwuka	Chief Financial Officer	1,086,294
Effiong Okon	Operations Director	1,107,707

* In line with the Directors' Remuneration Policy, the number of Shares to be awarded was calculated by dividing the monetary value of the salary multiple relevant for each Executive Director by the five-day average share price, prior to the date on which the LTIP Awards were granted (i.e. £1.175).

The Remuneration Committee retains discretion to make adjustments to the LTIP Awards vesting level and amounts payable resulting from the application of the performance measures if it considers that the outcomes are not a fair and accurate reflection of corporate performance.

No consideration was paid for the grant of the above LTIP Awards and no consideration is due on the vesting of the LTIP Awards.

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	Roger Brown
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 Energy 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 Energy PLC of 0.5 Naira each NGSEPLAT0008
b)	Nature of the transaction	Grant of nil-cost option in respect of the 2022 LTIP Award
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,733,345
d)	Aggregated information - Aggregated volume - Price	1,733,345 ordinary shares of 0.5 Naira each Nil consideration
e)	Date of the transaction	30 May 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Emeka Onwuka
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 Energy 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 Energy PLC of 0.5 Naira each NGSEPLAT0008
b)	Nature of the transaction	Grant of the 2022 LTIP Award
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,086,294
d)	Aggregated information - Aggregated volume - Price	1,086,294 ordinary shares of 0.5 Naira each Nil consideration
e)	Date of the transaction	30 May 2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Effiong Okon
2	Reason for the notification
a)	Position/status	Operations Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Seplat Energy 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 Energy PLC of 0.5 Naira each NGSEPLAT0008
b)	Nature of the transaction	Grant of the 2022 LTIP Award
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 1,107,707
d)	Aggregated information - Aggregated volume - Price	1,107,707 ordinary shares of 0.5 Naira each Nil consideration
e)	Date of the transaction	30 May 2022
f)	Place of the transaction	Outside a trading venue

Enquiries:

Seplat Energy PLC
Edith Onwuchekwa, Company Secretary Ngozi Osuzoka (Company secretariat)	[phone] Ext 1110 [phone] Ext 1108
FTI Consulting
Ben Brewerton / Christopher Laing	[phone] [e-mail]

 

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