President Energy PLC Award of Options (6606I)
June 21 2017 - 2:00AM
UK Regulatory
TIDMPPC
RNS Number : 6606I
President Energy PLC
21 June 2017
21 June 2017
PRESIDENT ENERGY PLC
("President" or "the Company")
Award of Options
President announces that it has granted share options to acquire
ordinary shares in the Company to the following persons discharging
management responsibilities together with other senior management
in accordance with the Company's Global Incentive Plan ("GIP").
The options are subject to standard conditions under the GIP
including share price performance targets, three year vesting
periods and have an exercise price of 6.175p, being the market
closing share price of yesterday.
In making this award the remuneration committee has noted that
10,650,667 previously issued options have lapsed or have been
cancelled since the Company's last award of options announcement in
July 2016.
Executive No. of Options No. of Total
Awarded Options
------------------------ --------------- -------------
Bruce Martin
Group Chief Financial
Officer 2,000,000 2,000,000
------------------------ --------------- -------------
David Scott Daspit
VP Operations USA 3,000,000 3,000,000
------------------------ --------------- -------------
Senior Management
(Non PDMRs) 5,750,000 5,750,000
------------------------ --------------- -------------
Each of the awarded options have a share price performance
condition, for each equal one third tranche, of 9.26p (first
tranche), 13.89p (second tranche) and 18.06p (third tranche).
In total, including existing awards and adjustments for lapsed
or cancelled option awards, the number of options granted to
management to acquire ordinary shares is now 40,775,333 or 4.3% of
the Company's issued share capital.
The following disclosures are made in accordance with Article
19.3 of the EU Market Abuse Regulation 596/2014.
Contact:
President Energy PLC
Peter Levine, Chairman +44 (0) 207 016 7950
Miles Biggins, COO +44 (0) 207 016 7950
Peel Hunt LLP (Nominated
Advisor & Joint Broker)
Richard Crichton, Ross Allister +44 (0) 207 418 8900
BMO Capital Markets (Joint
Broker) +44 (0) 207 236
Jeremy Low, Tom Rider 1010
Vigo Communications
Chris McMahon
Patrick d'Ancona +44 (0) 207 830 9700
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 Bruce Martin
--- ------------------------------ ---------------------------------
2. Reason for the notification
--- -----------------------------------------------------------------
a. Position/status Chief Financial Officer - PMDR
--- ------------------------------ ---------------------------------
b. Initial notification Initial Notification
/Amendment
--- ------------------------------ ---------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------
a. Name President Energy plc
--- ------------------------------ ---------------------------------
b. LEI 213800MA2ZN22I4ITA79
--- ------------------------------ ---------------------------------
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 Ordinary Shares of 1p each
of the ISIN: GB00B3DDP128
Financial
instrument,
type
of instrument
Identification
code
--- ------------------------------ ---------------------------------
b. Nature of Share options in accordance with
the transaction the Company's Global Incentive
Plan.
--- ------------------------------ ---------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) ------------ ----------
GBP0.06175 2,000,000
------------ ----------
--- ------------------------------ ---------------------------------
d. Aggregated
information Price(s) Volume(s)
* Aggregated volume ------------ ----------
GBP0.06175 2,000,000
------------ ----------
* Price
--- ------------------------------ ---------------------------------
e. Date of the 20/06/2017
transaction
--- ------------------------------ ---------------------------------
f. Place of Outside a trading venue.
the transaction
--- ------------------------------ ---------------------------------
5. Details of the person discharging managerial
responsibilities / person closely associated
--- -----------------------------------------------------------------
a. Name David Scott Daspit
--- ------------------------------ ---------------------------------
6. Reason for the notification
--- -----------------------------------------------------------------
a. Position/status VP Operations USA - PMDR
--- ------------------------------ ---------------------------------
b. Initial notification Initial Notification
/Amendment
--- ------------------------------ ---------------------------------
7. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------
a. Name President Energy Plc
--- ------------------------------ ---------------------------------
b. LEI 213800MA2ZN22I4ITA79
--- ------------------------------ ---------------------------------
8. 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 Ordinary Shares of 1p each
of the ISIN: GB00B3DDP128
Financial
instrument,
type
of instrument
Identification
code
--- ------------------------------ ---------------------------------
b. Nature of Share options in accordance with
the transaction the Company's Global Incentive
Plan.
--- ------------------------------ ---------------------------------
c. Price(s) Price(s) Volume(s)
and volume(s) ------------ ----------
GBP0.06175 3,000,000
------------ ----------
--- ------------------------------ ---------------------------------
d. Aggregated
information Price(s) Volume(s)
* Aggregated volume ------------ ----------
GBP0.06175 3,000,000
------------ ----------
* Price
--- ------------------------------ ---------------------------------
e. Date of the 20/06/2017
transaction
--- ------------------------------ ---------------------------------
f. Place of Outside a trading venue.
the transaction
--- ------------------------------ ---------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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