Long Term Incentive Plan Awards

RNS Number : 9334R
Serica Energy plc
05 March 2019
 

For immediate release

5 March 2019

 

 

 

Serica Energy plc

("Serica" or the "Company")

 

Long Term Incentive Plan Awards

London, 5 March 2019 - Serica Energy plc (AIM: SQZ) announces that today the Company granted nil-cost options over a total of 3,784,765 ordinary shares of US$0.10 each (representing approximately 1.43% of the Company's issued share capital) in accordance with the rules of the Serica Energy plc 2017 Long Term Incentive Plan ("LTIP"). The award has been made to members of the Group's executive team, senior management and employees.

These awards include a total of 822,134 ordinary shares of US$0.10 each for the executive directors and persons discharging managerial responsibilities. These have been set out in the table below and are subject to vesting criteria based on absolute share price performance over a three-year period:

                         

Director / PDMR

Position

Number of shares awarded

Antony Craven Walker

Mitch Flegg

Executive Chairman

Chief Executive Officer

411,067

411,067

 

Enquiries:

 

Serica Energy plc



Tony Craven Walker,

Executive Chairman

 

Mitch Flegg

CEO

tony.cravenwalker@serica-energy.com

 

 

mitch.flegg@serica-energy.com

+44 (0)20 7457 2020

 

 

+44 (0)20 7457 2020

 




Peel Hunt



Richard Crichton

richard.crichton@peelhunt.com

+44 (0)20 7418 8900

Ross Allister

James Bavister

ross.allister@peelhunt.com

james.bavister@peelhunt.com

 

+44 (0)20 7418 8900

+44 (0)20 7418 8900

 




Instinctif



David Simonson

david.simonson@instinctif.com

+44 (0)20 7457 2020

Sarah Hourahane

sarah.hourahane@instinctif.com

+44 (0)20 7457 2020

George Yeomans

george.yeomans@instinctif.com

+44 (0)20 7457 2020

 

 

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production company with exploration, development and production assets in the UK and exploration interests in the Atlantic margins offshore Ireland and Namibia.

Towards the end of 2018, Serica completed transactions which resulted in Serica UK holding a 98% interest in the Bruce field, a 100% interest in the Keith field and a 50% interest in the Rhum field and being operator of all three fields and asset infrastructure.

In addition to a 15% non-operated carried interest in an exploration well currently being drilled on the Rowallan prospect, Serica holds an 18% non-operated interest in the producing Erskine field in the UK Central North Sea and a 50% operated interest in the Columbus Development which has been approved by the OGA and is scheduled to commence development in 2019.

Further information on the Company can be found at www.serica-energy.com.

The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ and the Company is a designated foreign issuer on the TSX. To receive Company news releases via email, please subscribe via the Company website.

 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Antony Craven Walker

2

Reason for the notification

a)

Position/status

Executive Chairman

 

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Serica Energy plc

b)

LEI

213800EZZOKA815VC426

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

Ordinary shares of US$0.10 per share par value


Identification code

GB00B0CY5V57

b)

Nature of the transaction

Award of options under the LTIP

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

N/A

411,067

d)

Aggregated information

N/A (single transaction)


Aggregated volume



Price


e)

Date of the transaction

5 March 2019

f)

Place of the transaction

London Stock Exchange, AIM

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mitch Flegg

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

Serica Energy plc

b)

LEI

213800EZZOKA815VC426

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

Ordinary shares of US$0.10 per share par value


Identification code

GB00B0CY5V57

b)

Nature of the transaction

Award of options under the LTIP

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

N/A

411,067

d)

Aggregated information

N/A (single transaction)


Aggregated volume



Price


e)

Date of the transaction

5 March 2019

f)

Place of the transaction

London Stock Exchange, AIM

 


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END
 
 
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