Genel Energy PLC (GENL)
6 April 2023
Genel Energy plc (the ‘Company’)
2023 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities (‘PDMRs’)
Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the 2021 Performance Share Plan (‘PSP’) and Deferred Bonus Plan (‘DBP’) on 6 April 2023 to the PDMRs set out below.
PSP awards PSP awards granted were made in the form of nil-cost options.
Following vesting, shares granted under the PSP are subject to the Company’s retention policy under which Executive Committee members are required to retain shares for an additional two years.
DBP award In addition, Paul Weir deferred a proportion of his CEO 2022 cash bonus into Company shares under the DBP. The DBP award was made in the form of nil-cost options that become exercisable after two years. Options are then exercisable until the tenth anniversary of the grant date.
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Notes to editors: Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Kurdistan Region of Iraq, and a committed dividend programme that is material and sustainable. Genel continues to seek opportunities to add new resilient and cash-generative assets to its portfolio, with the goal of progressing its dividend in the long-term. For further information, please refer to www.genelenergy.com
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ISIN: | JE00B55Q3P39, NO0010894330 |
Category Code: | RDN |
TIDM: | GENL |
LEI Code: | 549300IVCJDWC3LR8F94 |
Sequence No.: | 235610 |
EQS News ID: | 1603385 |
End of Announcement | EQS News Service |
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