Notifications of Transactions of PDMRs

1

Name of the issuer

AFREN PLC

2

State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure (ii) a disclosure made in accordance with section 793 of the Companies Act (2006); or (iii) a disclosure made in accordance with paragraph 26 of the Model Code:

A TRANSACTION NOTIFIED IN ACCORDANCE WITH DTR 3.1.2 R,

3

Name of person discharging managerial responsibilities/director:

MR. GALIB VIRANI

4

State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person:

N/A 

5

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

IN RESPECT OF PERSON REFERRED TO IN 3 ABOVE

6

Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY SHARES OF ONE PENNY EACH

7

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

MR. GALIB VIRANI

8

State the nature of the transaction.

VESTING OF SHARES HELD PURSUANT TO THE 2011 PERFORMANCE SHARE PLAN AWARD AND SUBSEQUENT SALE OF SOME OF THE VESTED SHARES

9

Number of shares, debentures or financial instruments relating to shares acquired

203,775 ORDINARY SHARES OF ONE PENNY EACH VESTED TO MR. GALIB VIRANI PURSUANT TO THE 2011 PERFORMANCE SHARE PLAN AWARD

10

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.02 % AWARDED TO MR. GALIB VIRANI PURSUANT TO THE 2011 PERFORMANCE SHARE PLAN AWARD

11

Number of shares, debentures or financial instruments relating to shares disposed.

203,775 ORDINARY SHARES (WHICH WERE SOLD FOLLOWING THE AWARD OF 203,775 SHARES AS SET OUT IN 9 ABOVE).

12

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

0.02 % (SOLD FOLLOWING THE VESTING OF 203,775 SHARES AS SET OUT IN 9 ABOVE).

13

Price per share or value of transaction

NO CONSIDERATION WAS PAID IN RELATION TO THE VESTING OF SHARES UNDER 9 ABOVE.

£1.42 IN RELATION TO THE SALE OF THE SHARES SET OUT IN 11 ABOVE

14

Date and place of transaction:

30 JUNE 2014 (VESTING OF AWARD) LONDON

3 JULY 2014 (SALE OF SHARES)

LONDON

15

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 

845,611 ORDINARY SHARES

0.08 % OF ISSUED SHARE CAPITAL

16

Date issuer informed of transaction: 

4 JULY 2014

LONDON

17

Date of grant:

29 JUNE 2011

18

Period during which or date on which exercisable

30 JUNE 2014

19

Total amount paid (if any) for grant of the option:

NIL

20

Description of shares or debentures involved (class and number)

CONDITIONAL AWARD IN 2011 OF 203,775 ORDINARY SHARES PURSUANT TO THE PERFORMANCE SHARE PLAN

21

Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise:

NIL

22

Total number of shares or debentures over which options held following notification

OPTIONS OVER 1,551,667 ORDINARY SHARES UNCHANGED UNDER SHARE OPTION SCHEME.

CONDITIONAL AWARDS OF UP TO 893,473 ORDINARY SHARES HELD PURSUANT TO THE PERFORMANCE SHARE PLAN

23

Any additional information

THIS VESTING IS RELATED TO THE THREE YEAR PLAN CYCLE ENDING IN JUNE 2014 AND WAS SUBJECT TO THE SATISFACTION OF TOTAL SHAREHOLDER RETURN (TSR) PERFORMANCE CONDITIONS.

THE SUBSEQUENT SALE OF SHARES SET OUT IN 11 ABOVE WERE MADE PURSUANT TO A TRADING PLAN ENTERED INTO PRIOR TO THE COMMENCEMENT OF THE CLOSE PERIOD

24

Name of contact and telephone number for queries: 

ELEKWACHI UKWU

 + 44 (0) 2078 64 37 55

25

Name of duly authorised officer of issuer responsible for making notification:

ELEKWACHI UKWU

26

Date of notification

4 JULY2014