REG - Seplat Energy PLC - 2022 Share Awards granted under the 2014 LTIP

Seplat EnergyAnnouncement

01/06/2022 14:30

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RNS Number : 6120N  Seplat Energy PLC  01 June 2022

 

 

 

 

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES

 

Seplat Energy PLC ("Seplat" or "Company")

Share Awards granted under the Seplat Energy PLC 2014 Long Term Incentive Plan
("LTIP")

 

Lagos and London - 1 June 2022: The following awards ("LTIP Awards") over
ordinary shares of 0.5 Naira each ("Shares") of Seplat were granted under the
LTIP to Executive Directors of the Company on 30 May 2022 (the "Award Date")
as set out below using the average share price over the 5-day period prior to
the date of grant.  For the avoidance of doubt, as referenced in the 14 March
2022 RNS announcement, the LTIP awards are granted in respect of the 2022
financial year.

Vesting of the LTIP Awards is dependent on the achievement of stretching
relative and absolute Total Shareholder Return ("TSR") performance targets, an
overall assessment of corporate performance through an underpin and continued
employment over a three-year performance period which began on 1 January
2022.  The LTIP Awards will be subject to a two-year post vesting holding
period.  Full details of the vesting conditions of these LTIP Awards will be
set out in the Director's Remuneration Report included in the Company's 2022
Annual Report.

 

 Name          Position                 Total Number of Shares over which the award is granted*
 Roger Brown   Chief Executive Officer  1,733,345
 Emeka Onwuka  Chief Financial Officer  1,086,294
 Effiong Okon  Operations Director      1,107,707

* In line with the Directors' Remuneration Policy, the number of Shares to be
awarded was calculated by dividing the monetary value of the salary multiple
relevant for each Executive Director by the five-day average share price,
prior to the date on which the LTIP Awards were granted (i.e. £1.175).

 

The Remuneration Committee retains discretion to make adjustments to the LTIP
Awards vesting level and amounts payable resulting from the application of the
performance measures if it considers that the outcomes are not a fair and
accurate reflection of corporate performance.

 

No consideration was paid for the grant of the above LTIP Awards and no
consideration is due on the vesting of the LTIP Awards.

 

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                                                         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 Energy 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 financial instrument, type of instrument  Ordinary shares of Seplat Energy PLC of 0.5 Naira each

     Identification code

                                                                  NGSEPLAT0008
 b)  Nature of the transaction                                    Grant of nil-cost option in respect of the 2022 LTIP Award
 c)  Price(s) and volume(s)

 Price(s)  Volume(s)
                                                                   Nil       1,733,345
 d)  Aggregated information

- Aggregated volume

     - Price                                                      1,733,345 ordinary shares of 0.5 Naira each

                                                                  Nil consideration
 e)  Date of the transaction                                      30 May 2022
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

1,733,345 ordinary shares of 0.5 Naira each

Nil consideration

e)

Date of the transaction

30 May 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Emeka Onwuka
 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                                                         Seplat Energy 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 financial instrument, type of instrument  Ordinary shares of Seplat Energy PLC of 0.5 Naira each

     Identification code

                                                                  NGSEPLAT0008
 b)  Nature of the transaction                                    Grant of the 2022 LTIP Award
 c)  Price(s) and volume(s)

 Price(s)  Volume(s)
                                                                   Nil       1,086,294
 d)  Aggregated information

- Aggregated volume

     - Price                                                      1,086,294 ordinary shares of 0.5 Naira each

                                                                  Nil consideration
 e)  Date of the transaction                                      30 May 2022
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

1,086,294 ordinary shares of 0.5 Naira each

Nil consideration

e)

Date of the transaction

30 May 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Effiong Okon
 2   Reason for the notification
 a)  Position/status                                              Operations Director
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Seplat Energy 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 financial instrument, type of instrument  Ordinary shares of Seplat Energy PLC of 0.5 Naira each

     Identification code

                                                                  NGSEPLAT0008
 b)  Nature of the transaction                                    Grant of the 2022 LTIP Award
 c)  Price(s) and volume(s)

 Price(s)  Volume(s)
                                                                   Nil       1,107,707
 d)  Aggregated information

- Aggregated volume

     - Price                                                      1,107,707 ordinary shares of 0.5 Naira each

                                                                  Nil consideration
 e)  Date of the transaction                                      30 May 2022
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

1,107,707 ordinary shares of 0.5 Naira each

Nil consideration

e)

Date of the transaction

30 May 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

Enquiries:

 Seplat Energy PLC
 Edith Onwuchekwa, Company Secretary   +234 1 277 0400 Ext 1110

 Ngozi Osuzoka (Company secretariat)   +234 1 277 0444 Ext 1108
 FTI Consulting
 Ben Brewerton / Christopher Laing     +44 (0) 203 727 1000
                                       seplat@fticonsulting.com (mailto:seplat@fticonsulting.com)

 

 

 

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