TIDMGKP
RNS Number : 7590R
Gulf Keystone Petroleum Ltd.
13 December 2016
Not for release, publication or distribution, directly or
indirectly, in whole or in part in or into the United States or any
jurisdiction other than the United Kingdom and Bermuda where to do
so would constitute a contravention of the relevant laws or
regulations of such jurisdiction. This announcement (and the
information contained herein) does not contain or constitute an
offer to sell or the solicitation of an offer to purchase, nor
shall there be any sale of securities in any jurisdiction where
such offer, solicitation or sale would constitute a contravention
of the relevant laws or regulations of such jurisdiction.
13 December 2016
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")
2016 Gulf Keystone Petroleum Staff Retention Plan
Gulf Keystone Petroleum Ltd announces that pursuant to the 2016
Gulf Keystone Petroleum Staff Retention Plan (the "SRP"), on 12
December 2016 options over Common Shares were granted to the
persons discharging managerial responsibilities ("PDMRs") listed
below.
The SRP was approved by Gulf Keystone Petroleum Ltd shareholders
at the Company's Annual General Meeting held on 8 December 2016
(the "AGM"). Full details of the SRP were set out in the Company's
Notice of Annual General Meeting (available on the Company's
website http://www.gulfkeystone.com/)
The following directors and PDMRs have been granted an award of
options under the SRP:
Name Position Number of shares
over which options
granted
------------------------- ---------------------- --------------------
Nadzeya Kernoha Financial Controller 175,000
------------------------- ---------------------- --------------------
Gabriel Papineau-Legris Commercial Director 175,000
------------------------- ---------------------- --------------------
Legal Director &
Marie Ross Company Secretary 100,000
------------------------- ---------------------- --------------------
John Stafford VP Operations 175,000
------------------------- ---------------------- --------------------
Options granted under the SRP take the form of a right to
acquire Common Shares. The option exercise price is zero. No
consideration is payable for the grant of an option.
2016 Gulf Keystone Petroleum Value Creation Plan
Gulf Keystone Petroleum Ltd also announces that on 12 December
2016 Gulf Keystone Petroleum Limited awarded performance units
under the 2016 Gulf Keystone Petroleum Value Creation Plan ("VCP")
to the directors and PDMRs of the Company listed below.
The VCP was approved by Gulf Keystone Petroleum Limited
shareholders at the AGM. Full details of the VCP were set out in
the Company's Notice of Annual General Meeting (available on the
Company's website www.gulfkeystonepetroleum.com/).
The following directors and PDMRs have been granted an award of
performance units under the VCP:
Name Position Number of Performance
Units
--------------- ----------------- ----------------------
Jon Ferrier Chief Executive 386,667
--------------- ----------------- ----------------------
Chief Financial
Sami Zouari Officer 306,667
--------------- ----------------- ----------------------
Chief Strategy
Nadhim Zahawi Officer 226,667
--------------- ----------------- ----------------------
The award of performance units is based on a distribution of one
third each during the first year and, thereafter, 40% for the CEO;
30% for the CFO and 20% for the CSO for the remainder of the Plan,
with the remaining 10% available for future distribution subject to
board decision. No payment has been made for the grant of these
awards and the performance units have no value at grant.
Participants in the VCP have the opportunity to receive 8% of
the total value created for shareholders above a Threshold Price
determined at five Measurement Dates in a five year Measurement
Period. Before any awards vest, which are granted as nil-cost
options on conversion of any value created, a minimum level of
Total Shareholder Return of 8% p.a. compound growth from the base
price at each Measurement Date must be achieved. At each
Measurement Date the aggregate value of all nil-cost options
granted at previous Measurement Dates and at that Measurement Date
shall not exceed $20million, the value of nil cost options for
these purposes being the value at the Measurement Date in respect
of which they were granted.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Gabriel Papineau-Legris
--- -------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Commercial Director
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Options over Common Shares of US$1 each under the 2016
instrument Gulf Keystone Petroleum Staff Retention
Plan.
Identification code
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of option over Common Shares of US$1 each under
the 2016 Gulf Keystone Petroleum Staff
Retention Plan.
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 175,000
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 175,000
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name John Stafford
--- -------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status VP Operations
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Options over Common Shares of US$1 each under the 2016
instrument Gulf Keystone Petroleum Staff Retention
Plan.
Identification code
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of option over Common Shares of US$1 each under
the 2016 Gulf Keystone Petroleum Staff
Retention Plan.
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 175,000
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 175,000
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Nadzeya Kernoha
--- -------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Financial Controller
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Options over Common Shares of US$1 each under the 2016
instrument Gulf Keystone Petroleum Staff Retention
Plan.
Identification code
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of option over Common Shares of US$1 each under
the 2016 Gulf Keystone Petroleum Staff
Retention Plan.
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 175,000
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 175,000
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Marie Ross
--- -------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Legal Director & Company Secretary
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Options over Common Shares of US$1 each under the 2016
instrument Gulf Keystone Petroleum Staff Retention
Plan.
Identification code
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of option over Common Shares of US$1 each under
the 2016 Gulf Keystone Petroleum Staff
Retention Plan.
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 100,000
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 100,000
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Units representing rights over Common Shares of US$1
instrument each of Gulf Keystone Petroleum Limited
- the number of shares will be determined at the
Identification code Measurement Date of the 2016 Gulf Keystone
Petroleum Value Creation Plan
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of units representing rights over ordinary
shares granted under the 2016 Gulf Keystone
Petroleum Value Creation Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 386,667 units
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 386,667 units
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Units representing rights over Common Shares of US$1
instrument each of Gulf Keystone Petroleum Limited
- the number of shares will be determined at the
Identification code Measurement Date of the 2016 Gulf Keystone
Petroleum Value Creation Plan
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of units representing rights over ordinary
shares granted under the 2016 Gulf Keystone
Petroleum Value Creation Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 306,667 units
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 306,667 units
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Nadhim Zahawi
--- -------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Chief Strategy 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 n/a
--- -------------------------------------------------------- -------------------------------------------------------
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 Units representing rights over Common Shares of US$1
instrument each of Gulf Keystone Petroleum Limited
- the number of shares will be determined at the
Identification code Measurement Date of the 2016 Gulf Keystone
Petroleum Value Creation Plan
ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of units representing rights over ordinary
shares granted under the 2016 Gulf Keystone
Petroleum Value Creation Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 226,667 units
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 226,667 units
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 December 2016
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Jón Ferrier, CEO
Sami Zouari, CFO
Anastasia Vvedenskaya, Head
of Investor Relations
Celicourt Communications: +44(0) 20 7520 9266
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
-- Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading
independent operator and producer in the Kurdistan Region of Iraq
and the operator of the Shaikan field with current production
capacity of 40,000 barrels of oil per day
-- Further information on Gulf Keystone is available on its website www.gulfkeystone.com
Disclaimer
This announcement contains certain forward-looking statements.
These statements are made by the Company's Directors in good faith
based on the information available to them up to the time of their
approval of this announcement but such statements should be treated
with caution due to inherent uncertainties, including both economic
and business factors, underlying such forward-looking information.
This announcement has been prepared solely to provide additional
information to shareholders to assess the Group's strategies and
the potential for those strategies to succeed. This announcement
should not be relied on by any other party or for any other
purpose.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCQXLFFQLFZFBF
(END) Dow Jones Newswires
December 13, 2016 11:42 ET (16:42 GMT)
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