1st Sep 2017 17:30
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Premier Oil plc (the "Company") hereby notifies the market of the following transactions of which it has been notified under Article 19.1 of the EU Market Abuse Regulation ("MAR").
Grant of Performance Share Awards and Restricted Share Awards
Performance Share Awards and Restricted Share Awards (the "Awards") were granted to the Executive Directors named below on 1 September 2017 under the Company's 2017 Long Term Incentive Plan, which was approved by shareholders at the Company's 2017 Annual General Meeting.
The Awards will only vest if certain performance targets are met. Details of those performance targets are set out in the Directors' Remuneration Report within the Company's 2016 Annual Report and Financial Statements.
Subject to the achievement of the relevant performance target and the Remuneration Committee's assessment of overall Company performance, Performance Share Awards will normally vest on 1 September 2020, being three years from the date of grant of the Performance Share Awards.
Subject to the achievement of the relevant performance underpin and the Remuneration Committee's assessment of overall Company performance, Restricted Share Awards will normally vest in one third increments on 1 September 2020, 1 September 2021 and 1 September 2022 respectively, subject to continued employment.
The net number of shares vesting under the Awards after withholding for tax and National Insurance liabilities will be subject to a mandatory deferral period ending on 1 September 2022.
Andy GibbGroup General Counsel/Company SecretaryPremier Oil plc+44 (0)20 7730 1111
The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Tony Durrant | ||||
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 | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Grant of Performance Share Awards under the Premier Oil 2017 Long Term Incentive Plan; and (ii) Grant of Restricted Share Awards under the Premier Oil 2017 Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
1,112,136 £0.00 | ||||
e) | Date of the transaction | 2017-09-01 | ||||
f) | Place of the transaction | London | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Robin Allan | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director, North Sea and Exploration | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Grant of Performance Share Awards under the Premier Oil 2017 Long Term Incentive Plan; and (ii) Grant of Restricted Share Awards under the Premier Oil 2017 Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
691,420 £0.00 | ||||
e) | Date of the transaction | 2017-09-01 | ||||
f) | Place of the transaction | London | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Richard Rose | ||||
2 | Reason for the notification | |||||
a) | Position/status | Finance Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Premier Oil plc | ||||
b) | LEI | 213800YPC42DYBKVPF97 | ||||
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 Identification code | Ordinary shares of 12.5 pence each GB00B43G0577 | ||||
b) | Nature of the transaction | (i) Grant of Performance Share Awards under the Premier Oil 2017 Long Term Incentive Plan; and (ii) Grant of Restricted Share Awards under the Premier Oil 2017 Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
|
691,420 £0.00 | ||||
e) | Date of the transaction | 2017-09-01 | ||||
f) | Place of the transaction | London | ||||
Related Shares:
PMO.L