Director/PDMR Shareholding

RNS Number : 2128V

Enteq Upstream PLC

13 April 2021

 

13 April 2021

Enteq Upstream plc

(the "Company" or the "Group")

Awards under the Enteq Upstream plc Performance Share Plan ("PSP")

Enteq Upstream plc announces that its Remuneration Committee approved a further grant of awards under the Performance Share Plan ("PSP") that came into effect on 12 April 2021. 

The awards pursuant to the PSP, combined with the on-going all employee share option scheme already in existence, will remain within the overall limits already approved by the Company's shareholders.

This further grant has a vesting date of 31 March 2023. The performance condition relates equally to the achievement of both a cumulative adjusted EBITDA and a total shareholder growth target.  These targets are set and monitored by the Remuneration Committee.  The consideration payable for these awards is 1p per ordinary share of 1p each in the capital of the Company ("Ordinary Shares").

Andrew Law (CEO) was provisionally granted, subject to the performance conditions and rules of the scheme, a maximum of 500,000 Ordinary Shares, taking the total granted to him under the PSP to date, to 1,040,387 Ordinary Shares.  

For further information, please contact: Enteq Upstream plc  [phone] Andrew Law, Chief Executive Officer David Steel, Chief Financial Officer Investec Bank plc (NOMAD and Broker)  [phone] Chris Sim, Patrick Robb, David Anderson

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Andrew Law
2.	Reason for the notification
a)	Position/status	1.  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	Enteq Upstream
b)	LEI	n/a
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	Options over ordinary shares of 1 pence each GB00B41Q8Q68
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.01 1.  500,000
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	12 April 2021
f)	Place of the transaction	Outside a trading venue

 

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