Genel Energy PLC: 2019 Awards - Notification of Transactions by PDMRs
May 07 2019 - 9:58AM
UK Regulatory
Genel Energy PLC (GENL)
07-May-2019 / 14:57 GMT/BST
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR),
transmitted by EQS Group.
The issuer is solely responsible for the content of this
announcement.
7 May 2019
Genel Energy plc (the
Company)
2019 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 7 May 2019 to the PDMR
set out below.
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 7 May 2019 to 6 May
2022.
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
the first anniversary of the award, 25% on the second anniversary
of the award and 50% on the third anniversary of the award.
RSP awards granted to PDMRs in Turkey were made in the form of a
nil-costconditional share award and the shares comprised in it will
be transferred in threetranches; 25% on the first anniversary of
the award, 25% on the second anniversary of the award and 50% on
the third anniversary of the award.
Following vesting, all shares are retained for an additional two
years for Executive Committee members under the Company's Retention
Policy.
Following vesting, shares are subject to the Company's retention
policy.
The PSP awards are as follows:
|
Name
|
No. of shares subject to PSP Award
|
Total number of shares over which options/awards are held
following notification
|
|
Bill Higgs
|
356,342
|
1,016,146
|
|
Esa Ikaheimonen
|
283,930
|
1,555,200
|
|
Pars Kutay
|
207,413
|
1,666,647
|
RSP awards:
|
Name
|
No. of shares subject to RSP Award
|
Total number of shares over which options/awards are held
following notification
|
|
Bill Higgs
|
174,585
|
1,016,146
|
|
Pars Kutay
|
159,548
|
1,666,647
|
|
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 / Amendment
|
Initial notification
|
|
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 instrument, type of instrument
Identification code
|
Ordinary shares of 10 pence each
JE00B55Q3P39
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost options under the Company's performance
share plan
|
|
c)
|
Price(s) and volumes(s)
|
|
|
d)
|
Aggregated information
-Aggregated volume
-Price
|
356,342
Nil
|
|
e)
|
Date of the transaction
|
7 May 2019
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
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 / Amendment
|
Initial notification
|
|
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 instrument, type of instrument
Identification code
|
Ordinary shares of 10 pence each
JE00B55Q3P39
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost options under the Company's restricted share
plan
|
|
c)
|
Price(s) and volumes(s)
|
|
|
d)
|
Aggregated information
-Aggregated volume
-Price
|
174,585
Nil
|
|
e)
|
Date of the transaction
|
7 May 2019
|
|
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 / Amendment
|
Initial notification
|
|
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 instrument, type of instrument
Identification code
|
Ordinary shares of 10 pence each
JE00B55Q3P39
|
|
b)
|
Nature of the transaction
|
Grant of nil-cost options under the Company's performanceshare
plan
|
|
c)
|
Price(s) and volumes(s)
|
|
|
d)
|
Aggregated information
-Aggregated volume
-Price
|
283,390
Nil
|
|
e)
|
Date of the transaction
|
7 May 2019
|
|
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 / Amendment
|
Initial notification
|
|
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 instrument, type of instrument
Identification code
|
Ordinary shares of 10 pence each
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)
|
|
|
d)
|
Aggregated information
-Aggregated volume
-Price
|
207,413
Nil
|
|
e)
|
Date of the transaction
|
7 May 2019
|
|
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 / Amendment
|
Initial notification
|
|
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 instrument, type of instrument
Identification code
|
Ordinary shares of 10 pence each
JE00B55Q3P39
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost contingent share award under the Company's
restricted share plan
|
|
c)
|
Price(s) and volumes(s)
|
|
|
d)
|
Aggregated information
-Aggregated volume
-Price
|
159,548
Nil
|
|
e)
|
Date of the transaction
|
7 May 2019
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
-ends-
For further information please contact:
|
Genel Energy
Andrew Benbow, Head of Communications
|
+44 20 7659 5100
|
|
|
|
Vigo Communications
Patrick d'Ancona
|
+44 20 7830 9700
|
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main
market of the London Stock Exchange (LSE: GENL, LEI:
549300IVCJDWC3LR8F94). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed
independent oil producers, and is the largest holder of reserves
and resources in the Kurdistan Region of Iraq. Genel has highly
cash-generative oil production from the Taq Taq and Tawke licences,
with material growth potential from other assets in the portfolio.
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.: 8534
EQS News ID: 808119
End of Announcement EQS News Service
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