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Serica Energy PLC (SQZ)

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Monday 17 May, 2021

Serica Energy PLC

Long Term Incentive Plan Awards

RNS Number : 8938Y
Serica Energy PLC
17 May 2021
 

17 May 2021

Serica Energy plc

("Serica" or "the Company")

Long Term Incentive Plan Awards

London, 17 May 2021 - Serica Energy plc (AIM: SQZ) announces that today the Company granted nil-cost options over a total of 2,725,032 ordinary shares of US$0.10 each (representing approximately 1% 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 1,174,698 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.  587,349

Mitch Flegg                                           Chief Executive Officer    587,349 

 

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

 

 

 

Jefferies (Joint Broker)

+44 (0)20 7029 8000

Tony White / Will Soutar

 

 

 

Vigo Consulting

+44 (0)20 7390 0230 

Patrick d'Ancona / Chris McMahon / Simon Woods

[email protected]

 

 

 

 

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

587,349

d)

Aggregated information

N/A (single transaction)

 

Aggregated volume

 

 

Price

 

e)

Date of the transaction

17 May 2021

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

587,349

d)

Aggregated information

N/A (single transaction)

 

Aggregated volume

 

 

Price

 

e)

Date of the transaction

17 May 2021

f)

Place of the transaction

London Stock Exchange, AIM

 

 

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