Long Term Incentive Plan Awards

RNS Number : 8178L
Serica Energy PLC
17 May 2022
 

17 May 2022

Serica Energy plc

("Serica" or "the Company")

Long Term Incentive Plan Awards

London, 17 May 2022 - Serica Energy plc (AIM: SQZ) announces that the Company has granted nil-cost options over a total of 665,632 ordinary shares of US$0.10 each (representing approximately 0.2% 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 and senior management.

These awards include a total of 378,491 ordinary shares of US$0.10 each for the executive directors as set out in the table below and are subject to vesting criteria that are designed to incentivise performance that delivers value for all shareholders.

The vesting criteria are based on absolute share price performance over a three-year period and specific performance targets related to carbon emissions from operations over the same period. For the awards to vest in full, a 100% increase in average share price must be maintained for at least a six-month period together with a significant decrease in carbon emissions per barrel of oil equivalent produced.

Director / PDMR

Position

Number of shares awarded

Antony Craven Walker

Executive Chairman

138,300

Mitch Flegg

Chief Executive Officer

147,615

Andy Bell

Chief Financial Officer

92,576

Enquiries:

Serica Energy plc

+44 (0)20 7390 0230

Tony Craven Walker, Executive Chairman


Mitch Flegg, CEO




Peel Hunt (Nomad & Joint Broker)

+44 (0)20 7418 8900

Richard Crichton / David McKeown / Georgia Langoulant




Jefferies (Joint Broker)

+44 (0)20 7029 8000

Tony White / Will Soutar




Vigo Communications

+44 (0)20 7390 0230 

Patrick d ' Ancona / Finlay Thomson

serica@vigoconsulting.com

 

 

 

 

 

 

 

 

 

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

138,300

d)

Aggregated information

N/A (single transaction)


Aggregated volume



Price


e)

Date of the transaction

16 May 2022

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

147,615

d)

Aggregated information

N/A (single transaction)


Aggregated volume



Price


e)

Date of the transaction

16 May 2022

f)

Place of the transaction

London Stock Exchange, AIM

 

Details of the person discharging managerial responsibilities / person closely associated

Name

Andy Bell

Reason for the notification

Position/status

Chief Financial Officer

Initial notification/Amendment

Initial Notification

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

Name

Serica Energy plc

LEI

213800EZZOKA815VC426

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

Description of the financial instrument, type of instrument

Ordinary shares of US$0.10 per share par value

Identification code

GB00B0CY5V57

Nature of the transaction

Award of options under the LTIP

Price(s) and volumes(s)

Price(s)

Volume(s)

N/A

92,576

Aggregated information

N/A (single transaction)

Aggregated volume


Price


Date of the transaction

16 May 2022

Place of the transaction

London Stock Exchange, AIM

 

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