Long Term Incentive Plan Awards, Serica Energy plc, 2020-05-18






RNS Number : 2606N
Serica Energy plc
18 May 2020
 

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 

END

 
 

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