2016 Value Creation Plan
Gulf Keystone Petroleum Limited (LSE: GKP)
("Gulf Keystone" or the "Company")
2016 Value Creation Plan
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons in accordance with MAR 19(3).
The Company announces that on 14 May 2018 the following Nil Cost Options to acquire common shares of $1.00 each ("Shares") under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan (the "VCP") have been granted to the following persons discharging managerial responsibilities ("PDMRs"). This grant is pursuant to and in accordance with the terms and conditions of the Conditional Awards made to them under the VCP on 12 December 2016:-
|
PDMR |
Position |
Number of Shares over which Nil Cost Option was granted* |
|
Jón Ferrier |
Chief Executive Officer |
1,681,839 |
|
Sami Zouari |
Chief Financial Officer |
1,681,839 |
*The number of Shares over which the Nil Cost Option was granted has been calculated by reference to the 30-day average share price following the announcement of the Company's results for the financial year ending on 31 December 2017 of $2.346(£1.693) (rounded to three decimal places).
The Nil Cost Option is subject to the rules of the VCP and will normally vest depending on performance against Total Shareholder Return targets. As defined under the rules of the VCP, up to 50% of the number of Shares granted under the Nil Cost Option will normally vest following the Measurement Date for the financial year ending on 31 December 2019, 50% of the remainder of the number of Shares granted under the Nil Cost Option will normally vest following the Measurement Date for the financial year ending on 31 December 2020 with up to the remainder of the number of Shares granted under the Nil Cost Option vesting following the Measurement Date for the financial year ending on 31 December 2021.
The last date for exercise shall normally be the tenth anniversary of the Conditional Award date (12 December 2016). No dividend or dividend equivalents are payable in respect of the Nil Cost Option in accordance with the rules of the VCP.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation:
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Jón Ferrier |
||||
|
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 |
Gulf Keystone Petroleum Limited |
||||
|
b) |
LEI |
213800QTAQOSSTNTPO15 |
||||
|
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 |
Common shares of $1.00 each in Gulf Keystone Petroleum Limited
|
||||
|
b) |
Nature of the transaction |
Grant of nil cost award under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
1,681,839 Nil |
||||
|
e) |
Date of the transaction |
14 May 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Sami Zouari |
||||
|
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 |
Gulf Keystone Petroleum Limited |
||||
|
b) |
LEI |
213800QTAQOSSTNTPO15 |
||||
|
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 |
Common shares of $1.00 each in Gulf Keystone Petroleum Limited
|
||||
|
b) |
Nature of the transaction |
Grant of nil cost award under the Gulf Keystone Petroleum Limited 2016 Value Creation Plan |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information
|
1,681,839 Nil consideration |
||||
|
e) |
Date of the transaction |
14 May 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
This information is provided by RNS
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