Director/PDMR Shareholding

RNS Number : 5759R

Enteq Upstream PLC

29 June 2015

 

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 29 June 2015.  The PSP was initially approved on 17 September 2014 and includes the Executive Directors as well as other Executive Managers.

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 30 June 2018. The performance condition relates solely to the growth in Total Shareholder Return, and in order to achieve the full benefit of the award a 30% compound annual growth rate for each of the financial years ending 31 March 2016, 31 March 2017 and 31 March 2018 will need to be achieved.  The consideration payable for these awards is 1p per ordinary share of 1p each in the capital of the Company ("Ordinary Shares").

Martin Perry (CEO) and Raymond Garcia (COO) were each provisionally granted, subject to the performance conditions and rules of the scheme, a maximum of 460,526 Ordinary Shares, taking the total granted under the PSP to date, for each of them, to 998,988 Ordinary Shares.   David Steel (Finance Director) was provisionally granted, subject to the performance conditions and rules of the scheme, a maximum of 157,895 Ordinary Shares, taking his total granted under the PSP, to date, to 305,587 Ordinary Shares.

For further information, please contact: Enteq Upstream plc [phone] Martin Perry, Chief Executive Officer David Steel, Finance Director Investec Bank plc (NOMAD & Broker) [phone] Chris Treneman Patrick Robb David Anderson

 

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