DJ Genel Energy PLC: Director/PDMR Shareholding
Genel Energy PLC (GENL)
Genel Energy PLC: Director/PDMR Shareholding
23-Jun-2020 / 12:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
23 June 2020
Genel Energy plc
('the Company')
2020 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities ('PDMRs')
Pursuant to the notification obligations under EU Market Abuse Regulations
Article 19.1 the Company granted awards over its ordinary shares of 10 pence
each under the Performance Share Plan ('PSP') and Restricted Share Plan
('RSP') on 22 June 2020 to the PDMRs set out below.
In addition, the Executive Directors elected to defer a proportion of their
annual 2019 cash bonus into Company shares. Deferred bonus share awards were
made in the form of nil-cost options that become exercisable after two
years. Options are then exercisable until the tenth anniversary of the grant
date.
PSP awards granted to PDMRs in the UK were made in the form of nil-cost
options, which become exercisable following the end of a three-year
performance period, subject to the satisfaction of performance targets.
Options are then exercisable until the tenth anniversary of the date of
grant.
PSP awards granted to PDMRs in Turkey were made in the form of a nil-cost
conditional share award and will be transferred following the end of a
three-year performance period, subject to the satisfaction of performance
targets.
The PSP performance period will run from 3 April 2020 to 2 April 2023.
RSP awards granted to PDMRs in the UK were made in the form of nil-cost
options and become exercisable in three tranches; 25% on 3 April 2021, 25%
on 3 April 2022 and 50% on 3 April 2023.
Following vesting, shares granted under the PSP and RSP are subject to the
Company's retention policy under which Executive Committee members are
required to retain shares for an additional two years.
The PSP awards are as follows:
Name No. of shares subject Total number of shares
to PSP Award over which
options/awards are held
following notification
Bill Higgs 642,042 1,783,333
Esa Ikaheimonen 534,441 2,459,486
Michael Adams 242,280 660,062
Pars Kutay 351,027 1,702,182
Paul Weir 234,926 314,102
RSP award:
Name No. of shares subject to Total number of shares over
RSP Award which options/awards are
held following notification
Paul Weir 79,176 314,102
Deferred Bonus Share awards:
Name No. of shares subject Total number of shares
to Deferred Bonus over which
Share Award options/awards are held
following notification
Bill Higgs 63,436 1,783,333
Esa Ikaheimonen 153,912 2,459,486
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Bill Higgs
2 Reason for Notification
a) Position/status CEO
b) Initial notification / Initial notification
Amendment
3 Details of the issuers, emission allowance market
participant, auction platform, auctioneer or auction
monitor
a) Name Genel Energy plc
b) LEI 549300IVCJDWC3LR8F94
4 Details of the transaction(s): section to be replaced for
(i) each type of instrument; (ii) each type of
transaction; (iii) each date (iv) each place where
transaction have been conducted
a) Description of the financial Ordinary shares of 10 pence
instrument, type of each
instrument
Identification code
JE00B55Q3P39
b) Nature of the transaction
i) Grant of nil-cost
options under the Company's
Performance Share Plan
ii) Grant of nil-cost
options as Deferred Bonus
Share awards
c) Price(s) and volumes(s)
i) Nil cost
642,042
ii) Nil cost
63,436
d) Aggregated information
-Aggregated volume
-Price
705,478
Nil
e) Date of the transaction 22 June 2020
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Esa Ikaheimonen
2 Reason for Notification
a) Position/status CFO
b) Initial notification / Initial notification
Amendment
3 Details of the issuers, emission allowance market
participant, auction platform, auctioneer or auction
monitor
a) Name Genel Energy plc
b) LEI 549300IVCJDWC3LR8F94
4 Details of the transaction(s): section to be replaced for
(i) each type of instrument; (ii) each type of
transaction; (iii) each date (iv) each place where
transaction have been conducted
a) Description of the financial Ordinary shares of 10 pence
instrument, type of each
instrument
Identification code
JE00B55Q3P39
b) Nature of the transaction
i) Grant of nil-cost
options under the Company's
Performance Share Plan
ii) Grant of nil-cost
options as Deferred Bonus
Share awards
c) Price(s) and volumes(s)
i) Nil cost
534,441
ii) Nil cost
153,912
d) Aggregated information
-Aggregated volume
-Price
688,353
Nil
e) Date of the transaction 22 June 2020
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Michael Adams
2 Reason for Notification
a) Position/status Technical Director
b) Initial notification / Initial notification
Amendment
3 Details of the issuers, emission allowance market
participant, auction platform, auctioneer or auction
monitor
a) Name Genel Energy plc
b) LEI 549300IVCJDWC3LR8F94
4 Details of the transaction(s): section to be replaced for
(i) each type of instrument; (ii) each type of
transaction; (iii) each date (iv) each place where
transaction have been conducted
a) Description of the financial Ordinary shares of 10 pence
instrument, type of each
instrument
Identification code
JE00B55Q3P39
b) Nature of the transaction Grant of nil-cost options
under the Company's
Performance Share Plan
c) Price(s) and volumes(s) Nil cost
242,280 shares
d) Aggregated information
-Aggregated volume
-Price
242,280
Nil
e) Date of the transaction 22 June 2020
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Pars Kutay
2 Reason for Notification
a) Position/status Head of Government & Public
Affairs
b) Initial notification / Initial notification
Amendment
3 Details of the issuers, emission allowance market
participant, auction platform, auctioneer or auction
monitor
a) Name Genel Energy plc
b) LEI 549300IVCJDWC3LR8F94
4 Details of the transaction(s): section to be replaced for
(i) each type of instrument; (ii) each type of
transaction; (iii) each date (iv) each place where
transaction have been conducted
a) Description of the financial Ordinary shares of 10 pence
instrument, type of each
instrument
Identification code
JE00B55Q3P39
b) Nature of the transaction Grant of a nil-cost
contingent share award under
the Company's performance
share plan
c) Price(s) and volumes(s) Nil cost
351,027 shares
d) Aggregated information
-Aggregated volume
-Price
351,027
Nil
e) Date of the transaction 22 June 2020
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial
responsibilities / person closely associated
(MORE TO FOLLOW) Dow Jones Newswires
June 23, 2020 07:00 ET (11:00 GMT)
a) Name Paul Weir
2 Reason for Notification
a) Position/status Chief Operating Officer
b) Initial notification / Initial notification
Amendment
3 Details of the issuers, emission allowance market
participant, auction platform, auctioneer or auction
monitor
a) Name Genel Energy plc
b) LEI 549300IVCJDWC3LR8F94
4 Details of the transaction(s): section to be replaced for
(i) each type of instrument; (ii) each type of
transaction; (iii) each date (iv) each place where
transaction have been conducted
a) Description of the financial Ordinary shares of 10 pence
instrument, type of each
instrument
Identification code
JE00B55Q3P39
b) Nature of the transaction
i) Grant of nil-cost
options under the Company's
Performance Share Plan
ii) Grant of nil-cost
options under the Company's
Restricted Share Plan
c) Price(s) and volumes(s)
iii) Nil cost
234,926
iv) Nil cost
79,176 s
d) Aggregated information
-Aggregated volume
-Price
314,102
Nil
e) Date of the transaction 22 June 2020
f) Place of the transaction Outside a trading venue
-ends-
For further information please contact:
Genel Energy +44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Communications +44 20 7830 9700
Patrick d'Ancona
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main
market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94).
The Company is one of the largest London-listed independent hydrocarbon
producers, with an asset portfolio that positions us well for a future of
fewer and better natural resources projects. Genel has low-cost and
low-carbon production from the Taq Taq and Tawke licences in the Kurdistan
Region of Iraq, providing financial resilience that allows investment in
growth and the payment of a material and sustainable dividend, even at a low
oil price. Genel also continues to pursue further growth opportunities. For
further information, please refer to www.genelenergy.com.
ISIN: JE00B55Q3P39
Category Code: DSH
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 71453
EQS News ID: 1076529
End of Announcement EQS News Service
(END) Dow Jones Newswires
June 23, 2020 07:00 ET (11:00 GMT)
