Long Term Incentive Plan Awards, Serica Energy plc, 2020-05-18
For immediate release | 18 May 2020 |
Serica Energy plc
(“Serica” or the “Company”)
Long Term Incentive Plan Awards
London, 18 May 2020 – Serica Energy plc (AIM: SQZ) announces that today the Company granted nil-cost options over a total of 2,669,280 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, senior management and employees.
These awards include a total of 772,200 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 | 386,100 386,100 |
Enquiries:
Serica Energy plc
Tony Craven Walker, Executive Chairman
Mitch Flegg, CEO +44 (0)20 7457 2020
Peel Hunt (Nomad & Joint Broker) +44 (0)20 7418 8900
Richard Crichton / David McKeown / Alexander Allen
Jefferies (Joint Broker) +44 (0)20 7029 8000
Tony White / Will Soutar
Instinctif Partners
Mark Garraway / Sarah Hourahane / Dinara Shikhametova +44 (0)20 7457 2020
[email protected] +44 (0)7493 867 435
+44 (0)7580 817 276
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 offshore Namibia.
Serica is the operator of the producing Bruce, Keith and Rhum fields in the UK Northern North Sea, holding a 98% interest in the Bruce field, a 100% interest in the Keith field and a 50% interest in the Rhum field. .
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 field for which development has been approved by the OGA and has commenced.
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 | 386,100 | ||
d) | Aggregated information | N/A (single transaction) | |
| Aggregated volume |
| |
| Price |
| |
e) | Date of the transaction | 18 May 2020 | |
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 | 386,100 | ||
d) | Aggregated information | N/A (single transaction) | |
| Aggregated volume |
| |
| Price |
| |
e) | Date of the transaction | 18 May 2020 | |
f) | Place of the transaction | London Stock Exchange, AIM | |
END
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