Director/PDMR Shareholding

RNS Number : 1438D

SEPLAT Petroleum Development Co PLC

24 April 2017

 

Seplat Petroleum Development Company plc

24 April 2017

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

Seplat Petroleum Development Company plc

2017 Share Awards granted under the 2014 Long-Term Incentive Plan ("LTIP")

The following awards over ordinary shares of 0.5 Naira each ("Shares") of Seplat Petroleum Development Company plc ("Seplat") were granted under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan ("LTIP") to Executive Directors of the Company on 20 April 2017 as set out below.

The awards will normally vest on 20 April 2020 being the third anniversary of the Award Date subject to relative TSR performance condition and reserves growth underpin.

Name	Position	Number of Shares over which award granted*
Austin Avuru	Chief Executive Officer	1,609,375
Roger Brown	Chief Financial Officer	978,500

* In line with the approach approved by the Remuneration Committee, the number of shares to be granted was calculated by dividing the monetary value of the salary multiple relevant for each PDMR by the higher of the average share price over Q1 2017 or £1. As the average share price over Q1 2017 was £0.72, the calculation has been performed based on £1 share price.

 The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Austin Avuru
2	Reason for the notification
a)	Position/status	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	Seplat Petroleum Development Company plc
b)	LEI	029200711C4S4CB2E982
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	Ordinary shares of Seplat Petroleum Development Company plc of 0.5 Naira each NGSEPLAT0008
b)	Nature of the transaction	Grant of share award under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil  1,609,375
d)	Aggregated information - Aggregated volume - Price	1,609,375 ordinary shares of 0.5 Naira each Nil consideration
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Roger Brown
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Seplat Petroleum Development Company plc
b)	LEI	029200711C4S4CB2E982
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	Ordinary Shares of Seplat Petroleum Development Company plc of 0.5 Naira each NGSEPLAT0008
b)	Nature of the transaction	Grant of share award under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil  978,500
d)	Aggregated information - Aggregated volume - Price	978,500 ordinary shares of 0.5 Naira each Nil consideration
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	Outside a trading venue

Enquiries:

Seplat Petroleum Development Company Plc
Dr. Mirian Kachikwu, General Counsel                 Ngozi Osuzoka (company secretariat)	[phone] Ext 1110   [phone] Ext 1108
FTI Consulting
Ben Brewerton / Sara Powell / James Styles	[phone] [e-mail]

 

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