REG - Seplat Energy PLC - Director/PDMR Shareholding
17/05/2023 14:00
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RNS Number : 7681Z Seplat Energy PLC 17 May 2023
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 - 17 May 2023: 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 16 May 2023 (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, the LTIP awards are granted
in respect of the 2023 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
2023. 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 Company's 2023 Annual Report.
Name Position Total Number of Shares over which the award is granted*
Roger Brown Chief Executive Officer 2,779,181
Emeka Onwuka Chief Financial Officer 1,575,125
Samson Ezugworie Chief Operations Officer 1,509,650
*In line with the Directors' Remuneration Policy, the number of shares awarded
was calculated by dividing the monetary value of the salary multiple relevant
for each Executive Director by the grant price, which equals the five-day
average share price prior to the date on which the LTIP Awards were granted
(£0.974)
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.
On 16 May 2023 (the Award date), the Company also granted the following awards
("Deferred Share Awards") in respect of the 2022 Annual Performance Bonus over
Shares under the LTIP to Executive Directors of the Company as set out below.
Under the Directors' Remuneration Policy approved by shareholders at
Seplat's 2021 Annual General Meeting, 25% of the executive directors' annual
performance bonus relating to the 2022 financial year is deferred into an
award over shares and the shares will normally vest and be released on 31
December 2024 (two years following the end of the performance year in respect
of which the Deferred Share Award is granted) subject to continued employment
in line with the LTIP rules.
Name Position Total Number of Shares over which the award is granted**
Roger Brown Chief Executive Officer 182,142
Emeka Onwuka Chief Financial Officer 95,124
Samson Ezugworie Chief Operations Officer 41,224
**The number of Shares awarded was calculated by reference to Seplat's closing
share price on 31 December 2022 of £1.05 in line with the approved
remuneration policy.
No consideration was paid for the above Awards and no consideration is due on
the vesting of the 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.
Signed:
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
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:
(a) nil-cost option in respect of the 2023 LTIP Award;
(b) Deferred Share Award in respect of 2022 Annual Bonus
all under Seplat Energy PLC 2014 Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s) Volume(s)
(a) Nil 2,779,181 2023 LTIP
(b) Nil 182,142 2022 Deferred Shares
d) Aggregated information
- Aggregated volume
- Price 2,961,323 ordinary shares of 0.5 Naira each
Nil consideration
e) Date of the transaction 16 May 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
2,961,323 ordinary shares of 0.5 Naira each
Nil consideration
e)
Date of the transaction
16 May 2023
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:
(a) nil-cost option in respect of the 2023 LTIP Award;
(b) Deferred Share Award in respect of 2022 Annual Bonus
all under Seplat Energy PLC 2014 Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s) Volume(s)
(a) Nil 1,575,125 2023 LTIP
(b) Nil 95,124 2022 Deferred Shares
d) Aggregated information
- Aggregated volume
- Price 1,670,249 ordinary shares of 0.5 Naira each
Nil consideration
e) Date of the transaction 16 May 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
1,670,249 ordinary shares of 0.5 Naira each
Nil consideration
e)
Date of the transaction
16 May 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Samson Ezugwuorie
2 Reason for the notification
a) Position / status Chief Operations 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:
(a) nil-cost option in respect of the 2023 LTIP Award;
(b) Deferred Share Award in respect of 2022 Annual Bonus
all under Seplat Energy PLC 2014 Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s) Volume(s)
(a) Nil 1,509,650 2023 LTIP
(b) Nil 41,224 2022 Deferred Shares
d) Aggregated information
- Aggregated volume
- Price 1,550,874 ordinary shares of 0.5 Naira each
Nil consideration
e) Date of the transaction 16 May 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
1,550,874 ordinary shares of 0.5 Naira each
Nil consideration
e)
Date of the transaction
16 May 2023
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 / Sara Powell / James Styles +44 (0) 203 727 1000
seplat@fticonsulting.com (mailto:seplat@fticonsulting.com)
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