Director/PDMR Shareholding

RNS Number : 2587F

EnQuest PLC

20 April 2011

 



Director/PDMR Shareholding

EnQuest PLC (the "Company")

20 April 2011

Notification of Transactions by

Persons Discharging Management Responsibility ('PDMRs').

Pursuant to the Company's obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies that the Company's Remuneration Committee granted the following awards to Directors and PDMRs of Ordinary Shares of £0.05 each in the Company (the "Shares") under the EnQuest Performance Share Plan ("PSP") and the EnQuest Deferred Bonus Share Plan ("DBSP") on 19 April 2011.

Awards granted to Directors and PDMRs on 19 April 2011 under the PSP and DBSP were as follows:-  

Director/PDMR	PSP Award 19 April 2011	Total number of shares held under the PSP  following the Award	DBSP Award 19 April 2011	Total number of shares held under the DBSP  following the Award
Amjad Bseisu	583,090	0	0	0
Nigel Hares	443,148	0	0	0
Jonathan Swinney	324,975	0	0	0
Paul Lindop	23,000	0	0	75,594
Craig Matthew	21,000	0	40,022	40,022

On 19 April 2011, the PSP Awards granted to Directors and PDMRs were made in the form of nil-cost options (as permitted under the rules of the PSP) and will vest 100% on the third anniversary of the date of grant (19 April 2014), subject to the achievement of performance targets and continued employment with the EnQuest Group, each being exercisable up to the tenth anniversary of the date of grant. 

In addition, Company employees (below Executive Director level) were invited under the rules of the DBSP to invest 25% of gross 2010 performance pay in the DBSP.  On 19 April 2011, Matching Awards were granted over an equal number of shares that were acquired by the DBSP participants. Shares awarded under the DBSP vest on the first, second and third anniversaries of the date of grant in tranches of 1/3^rd respectively, subject to each of their continuing employment with the EnQuest group.

If participants and their connected persons hold Shares outside the PSP and

DBSP (or any other Company share incentive scheme), separate announcements are made under the Disclosure and Transparency Rules as required.

Contact for enquiries:

EnQuest PLC

Paul Waters

Company Secretary

020 7925 4900

 

END

 

 

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