Director/PDMR Shareholding

RNS Number : 2094A

Genel Energy PLC

22 December 2017

 

22 December 2017

Genel Energy plc

2017 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities ('PDMRs')

Pursuant to the notification obligations under EU Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the Performance Share Plan ('PSP') and Restricted Share Plan ('RSP') on 22 December 2017 to the PDMR set out below.

PSP awards were made in the form of nil-cost options, which become exercisable following the end of a three year performance period, subject to the satisfaction of performance targets. Options are then exercisable until the tenth anniversary of the date of grant. 

 The PSP performance period will run from 22 December 2017 to 21 December 2020.

The award granted under the RSP was made in the form of nil-cost options and becomes exercisable in three tranches; 25% on the first anniversary of the award, 25% on the second anniversary of the award and 50% on the third anniversary of the award.

Following vesting, shares are retained for an additional two years for Executive Committee members under the Company's Retention Policy.

The PSP awards are as follows:

Name	No. of shares subject to PSP Award	Lapse date	Total number of shares over which options/awards are held following notification
Bill Higgs	60,000	22 December 2027	200,000

RSP awards:

Name	No. of shares subject to RSP Award	Lapse date	Total number of shares over which options/awards are held following notification
Bill Higgs	140,000	22 December 2027	200,000

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bill Higgs
2	Reason for Notification
a)	Position/status	COO
b)	Initial notification / Amendment	Initial notification
3	Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genel Energy plc
b)	LEI	549300IVCJDWC3LR8F94
4	Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10 pence each JE00B55Q3P39
b)	Nature of the transaction	Grant of nil-cost options under the Company's performance share plan
c)	Price(s) and volumes(s)	Price Volume Nil 60,000
d)	Aggregated information -Aggregated volume -Price	200,000 Nil
e)	Date of the transaction	22 December 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bill Higgs
2	Reason for Notification
a)	Position/status	COO
b)	Initial notification / Amendment	Initial notification
3	Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genel Energy plc
b)	LEI	549300IVCJDWC3LR8F94
4	Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10 pence each JE00B55Q3P39
b)	Nature of the transaction	Grant of nil-cost options under the Company's restricted share plan
c)	Price(s) and volumes(s)	Price Volume Nil 140,000
d)	Aggregated information -Aggregated volume -Price	200,000 Nil
e)	Date of the transaction	22 December 2017
f)	Place of the transaction	Outside a trading venue

-ends-

For further information, please contact:

Genel Energy Phil Corbett, Head of Investor Relations Andrew Benbow, Head of Public Relations	[phone]
Vigo Communications Patrick d'Ancona	[phone]

Notes to editors:

Notes to editors: Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas fields, the Company is positioned to be a cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities within the Middle East and Africa. For further information, please refer to www.genelenergy.com

 

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