Award of Shares under the Share Incentive Plan

RNS Number : 7578M

Hurricane Energy PLC

22 January 2016

 

Hurricane Energy plc

Award of Shares under the Share Incentive Plan

Hurricane Energy plc (AIM: HUR.L, "Hurricane" or the "Company") announces that it received notification on 22 January 2016 that, following payroll contributions made on 22 January 2016, MM&K Plan Trustees Limited ("SIP Trust"), trustee of the Hurricane Energy plc Share Incentive Plan ("SIP"), awarded 1,053,981 ordinary shares of 0.1p each in the Company ("Ordinary Shares") to participants in the SIP at a price of 9.45 pence per share, being the closing mid-market price on 21 January 2016.

The SIP award has been satisfied in part by the issue of 1,016,976 new Ordinary Shares to the SIP at a nominal value subscription price of 0.1 p per share.

Each participating employee will receive an allocation of Partnership Shares (being new shares acquired at market value using contributions deducted from employees' pre-tax salaries; "Partnership Shares"), Matching Shares (being ordinary shares of twice the number of Partnership Shares acquired by an employee which are paid for by the Company; "Matching Shares") and Free Shares (being ordinary shares to a value not exceeding £3,600 in the current tax year, which are paid for by the Company; "Free Shares").

Under the SIP, the following directors of the Company purchased or were awarded the following number of Ordinary Shares:

Name	Number of Partnership Shares	Number of Matching Shares	Number of Free Shares
Dr Robert Trice	19,048	38,096	38,095
Nicholas Mardon Taylor	19,048	38,096	38,095
Neil Platt	19,048	38,096	38,095

The aggregate of their beneficial holdings are now as follows:

Name	Number of Ordinary Shares	%
Dr Robert Trice	25,285,102	3.99%
Nicholas Mardon Taylor	2,601,913	0.41%
Neil Platt	209,273	0.03%

Application has been made for the 1,016,976 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place on 28 January 2016.  The shares will rank pari passu with the existing Ordinary Shares.

Following the SIP Awards, Hurricane's total issued and voting share capital will comprise 634,129,509 Ordinary Shares.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Contact Details:

Hurricane Energy plc	Nicholas Mardon Taylor, Chief Financial Officer	[phone]	[e-mail]
Cenkos Securities plc	Derrick Lee Nick Tulloch	[phone] [phone]	[e-mail] [e-mail]
Vigo Communications	Patrick d'Ancona Ben Simons	[phone] [phone]	[e-mail] [e-mail]

 

END

 

 

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