Seplat Petroleum Development Co PLC Notification of PDMR (3238H)
December 02 2020 - 10:00AM
UK Regulatory
TIDMSEPL
RNS Number : 3238H
Seplat Petroleum Development Co PLC
02 December 2020
Seplat Petroleum Development Company Plc ("Seplat" or the
"Company")
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
Seplat Petroleum Development Company plc
2020 Share Awards granted under the 2014 Long Term Incentive
Plan ("LTIP")
Lagos and London, 2 December 2020: The following award over
ordinary shares of 0.5 Naira each ("Shares") of Seplat Petroleum
Development Company plc ("Seplat") was granted under the Seplat
Petroleum Development Company Plc 2014 Long Term Incentive Plan
("LTIP") to the Executive Director of the Company on 2 December
2020 as set out below.
This grant is being made to reflect Mr Roger Brown's promotion
to CEO effective from 1(st) August 2020. We note that the Company
operates a policy to protect shareholders from excessive dilution
and manage annual LTIP award levels whereby the number of shares
awarded is calculated based on the higher of Seplat's average share
price and GBP1. Therefore, the number of shares has been calculated
based on a share price of GBP1 as the share
price on 1 August 2020 was GBP0.59.
The award will normally vest on 2 December 2023 being the third
anniversary of the Award Date subject to relative TSR and underpin
performance conditions.
Name Position Number of Shares over
which the award is granted*
Chief Executive
Roger Brown Officer 268,029
----------------- -----------------------------
* In line with the approach approved by the Remuneration
Committee, the number of shares to be granted was calculated by
dividing the monetary value of the salary multiple relevant for the
PDMR by the higher of the share price on 1 August 2020 or GBP1. As
the share price on 1 August 2020 was GBP0.59, the calculation has
been performed based on GBP1.
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.
For: Seplat Petroleum Development Company Plc
Edith Onwuchekwa
Company Secretary and General Counsel
Enquiries:
Seplat Petroleum Development Company Plc
Emeka Onwuka, CFO +234 (01) 277 0400
Edith Onwuchekwa, Company Secretary and General
Counsel
FTI Consulting
Ben Brewerton / Sara Powell +44 (0) 203 727 1000
seplat@fticonsulting.com
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Roger Brown
-------------------------------------------------------------- -------------------------------------------
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 Seplat Petroleum Development Company
Plc
-------------------------------------------------------------- -------------------------------------------
b) LEI [029200711C4S4CB2E982]
-------------------------------------------------------------- -------------------------------------------
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 Ordinary Shares of Seplat Petroleum
financial instrument, Development Company Plc of 0.5 Naira
type of instrument each
Identification code
[NGSEPLAT0008]
-------------------------------------------------------------- -------------------------------------------
b) Nature of the transaction Grant of nil-cost option in respect
of the 2020 Annual LTIP Award under
the Seplat Petroleum Development Company
Plc 2014 Long Term Incentive Plan.
-------------------------------------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil [268,029]
--------- ----------
-------------------------------------------------------------- -------------------------------------------
d) Aggregated information - Aggregated volume
- Price [268,029] ordinary shares of 0.5 Naira
each
Nil consideration
-------------------------------------------------------------- -------------------------------------------
e) Date of the transaction [2 December] 2020
-------------------------------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------------- -------------------------------------------
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END
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