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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Faroe Petrol. | LSE:FPM | London | Ordinary Share | GB0033032904 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 160.40 | 160.00 | 160.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMFPM
RNS Number : 7071M
Faroe Petroleum PLC
01 August 2017
1 August 2017
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Notification of Directors' interests
Faroe Petroleum Incentive Plan
On 28 July 2017 the Remuneration Committee of the Company approved an annual award under the Faroe Petroleum Incentive Plan ('FPIP") to the Executive Directors by way of grant of nil-cost options ("Options") over ordinary shares of 10p each in the Company ("Ordinary Shares") as detailed below:
FPIP Annual Awards
Hot Features
Premium
Director Role Number of Ordinary
Shares
subject to the Option
================= ================= =======================
Graham Stewart Chief Executive 1,192,277
================= ================= =======================
Chief Operating
Helge Hammer Officer 710,293
================= ================= =======================
Chief Financial
Jonathan Cooper Officer 644,083
================= ================= =======================
The actual number of Options which the recipients could receive under the FPIP ranges from zero to 100% subject to the achievement of the performance targets. For the purposes of disclosure and maintenance of certain statutory records, the number of Nil-Cost Options is taken to be 100% of the number of Nil-Cost Options awarded, as detailed above.
Performance will be measured at the end of a three year performance period against two equally weighted performance conditions, namely one half absolute Total Shareholder Return ("TSR"), and one half relative TSR. Awards granted to the recipients will be required to be held for an additional two year holding period after the three year performance period.
Total Holdings
Following these transactions the Executive Directors hold the following Ordinary Shares together with options over the same (including Matching Shares) exercisable at various prices as follows:
Director No of Ordinary No. of options over
Shares ordinary shares
of 10p each of 10p each
==================== =============== ====================
Graham Stewart* 1,718,863 6,165,860
==================== =============== ====================
Helge Hammer** 811,503 3,855,136
==================== =============== ====================
Jonathan Cooper*** 262,005 3,384,495
==================== =============== ====================
*On 24 July 2017 460,236 FPIP Nil-Cost options lapsed
** On 24 July 2017 255,130 FPIP Nil-Cost options lapsed
*** On 24 July 2017 248,627 FPIP Nil-Cost options lapsed
- Ends -
For further information please contact:
Faroe Petroleum plc Tel: +44
Graham Stewart, CEO 1224 650
920
Stifel Nicolaus Europe Limited Tel: +44
Callum Stewart / Nicholas Rhodes / Ashton 20 7710 7600
Clanfield
BMO Capital Markets Tel: +44
Neil Haycock / Tom Rider / Jeremy Low 20 7236 1010
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Graham Stewart
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Executive
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil 1,192,277
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 1,192,277
volume
- Price Nil
--- -------------------- -------------------------------
e) Date of 28 July 2017
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Helge Hammer
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Operating
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil 710,293
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 710,293
volume
- Price Nil
--- -------------------- -------------------------------
e) Date of 28 July 2017
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Jonathan Cooper
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Financial
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil 644,083
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 644,083
volume Nil
- Price
--- -------------------- -------------------------------
e) Date of 28 July 2017
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHDFLBBDVFZBBX
(END) Dow Jones Newswires
August 01, 2017 03:46 ET (07:46 GMT)
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