GENEL ENERGY (LON:GENL) Genel Energy PLC: Director/PDMR Shareholding

Transparency directive : regulatory news

07/04/2021 17:23

Genel Energy PLC (GENL)
Genel Energy PLC: Director/PDMR Shareholding

07-Apr-2021 / 16:23 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


7 April 2021

 

 

Genel Energy plc (the Company)

 

2021 Awards - Notification of Transactions by

Persons Discharging Managerial Responsibilities (PDMRs)

 

 

Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the Performance Share Plan ('PSP') on 6 April 2021 to the PDMRs 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 6 April 2021 to 5 April 2024.

 

Following vesting, shares granted under the PSP 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 to PSP Award

Total number of shares over which options/awards are held following notification

Bill Higgs

466,201

2,395,319

Esa Ikaheimonen

388,069

2,867,703

Michael Adams

175,925

870,623

Pars Kutay

284,064

1,305,397

Paul Weir

172,475

486,577

 

In addition, the Executive Directors elected to defer a proportion of their annual 2020 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.

 

Deferred Bonus Share awards:

Name

No. of shares subject to Deferred Bonus Share Award

Total number of shares over which options/awards are held following notification

Bill Higgs

60,006

2,395,319

Esa Ikaheimonen

49,949

2,867,703

 

 

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

  1. Grant of nil-cost options under the Company's Performance Share Plan
  2. Grant of nil-cost options as Deferred Bonus Share awards

 

c)

Price(s) and volumes(s)

  1. Nil cost
  2. 466,201
  3. Nil cost

60,006

d)

Aggregated information

-Aggregated volume

-Price

 

 

526,207

Nil

e)

Date of the transaction

6 April 2021

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

  1. Grant of nil-cost options under the Company's Performance Share Plan
  2. Grant of nil-cost options as Deferred Bonus Share awards

c)

Price(s) and volumes(s)

  1. Nil cost

388,069

  1. Nil cost

49,949

d)

Aggregated information

-Aggregated volume

-Price

 

 

438,018

Nil

e)

Date of the transaction

6 April 2021

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 / 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 Performance Share Plan

 

c)

Price(s) and volumes(s)

Nil cost

175,925 shares

d)

Aggregated information

-Aggregated volume

-Price

 

 

175,925

Nil

e)

Date of the transaction

6 April 2021

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)

Nil cost

284,064 shares

d)

Aggregated information

-Aggregated volume

-Price

 

 

284,064 

Nil

e)

Date of the transaction

6 April 2021

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

  a)

Name

Paul Weir

2

Reason for Notification

a)

Position/status

Chief Operating Officer

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 Performance Share Plan

c)

Price(s) and volumes(s)

Nil cost

172,475 shares

d)

Aggregated information

-Aggregated volume

-Price

 

 

172,475

Nil

e)

Date of the transaction

6 April 2021

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 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 Sarta, 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, NO0010894330
Category Code: MSCL
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 97659
EQS News ID: 1182053

 
End of Announcement EQS News Service

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