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. DARRA COMYN

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. DARRA COMYN

8

State the nature of the transaction.

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

9

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

473,186 ORDINARY SHARES OF ONE PENNY EACH VESTED TO MR. DARRA COMYN 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)

0.04 % AWARDED TO MR. DARRA COMYN PURSUANT TO THE 2011 PERFORMANCE SHARE PLAN AWARD

11

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

223,179 ORDINARY SHARES (WHICH WERE SOLD FOLLOWING THE AWARD OF 473,186 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 473,186 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:

7 APRIL 2014

LONDON

15

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

823,605 ORDINARY SHARES

0.07 % OF ISSUED SHARE CAPITAL

16

Date issuer informed of transaction: 

7 APRIL 2014

LONDON

17

Date of grant:

31 MARCH 2011

18

Period during which or date on which exercisable

3 APRIL 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 473,186 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 1,850,000 ORDINARY SHARES UNCHANGED UNDER SHARE OPTION SCHEME.

CONDITIONAL AWARDS IN 2012 OF UP TO 1,316,146 ORDINARY SHARES HELD PURSUANT TO THE PERFORMANCE SHARE PLAN, 179,475 ORDINARY SHARES HELD PURSUANT TO THE EXECUTIVE DEFERRED BONUS PLAN

23

Any additional information

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

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

8 APRIL 2014