Director/PDMR Shareholding

RNS Number : 6534X

Genel Energy PLC

09 May 2016

 

9 May 2016

Genel Energy plc ('the Company')

2016 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities (PDMRs)

Pursuant to the notification obligations under Disclosure and Transparency Rule 3.1.4R, the Company granted awards over its ordinary shares of 10 pence each under the Performance Share Plan (PSP) and Restricted Share Plan (RSP) on 7 May 2016 to PDMRs as set out below.

PSP awards granted to PDMRs in the UK 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.

PSP awards granted to PDMRs in Turkey were made in the form of a nil-cost conditional share award, and the shares comprised in it will be transferred following the end of a three year performance period, subject to the satisfaction of performance targets.

The PSP performance period will run from 1 January 2016 to 31 December 2018.

The award granted under the RSP was made in the form of nil-cost options and becomes exercisable in 3 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 three years for an Executive Director and for an additional two years for an Executive Committee member.

PSP Awards

Name	No. of shares subject to PSP Award	Lapse date	Total number of shares over which options/awards are held following notification
Murat Özgül	1,135,171	n/a	1,884,438
Ben Monaghan	486,519	7 May 2026	1,003,146

RSP Awards

Name	No. of shares subject to RSP Award	Lapse date	Total number of shares over which options/awards are held following notification
Ben Monaghan	253,235	7 May 2026	1,003,146

Name of person making notification: Sarah Robertson

Contact number: [phone]

Date of notification: 9 May 2016 

 

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