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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 : 8085G
Faroe Petroleum PLC
10 August 2016
10 August 2016
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Notification of Directors' interests
Faroe Petroleum Incentive Plan
On 9 August 2016, 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 1,395,287
================= ================= =======================
Chief Operating
Helge Hammer Officer 831,235
================= ================= =======================
Chief Financial
Jonathan Cooper Officer 753,752
================= ================= =======================
The actual number of Options which the recipients could receive under the FPIP ranges from zero to 100% subject to the achievement of certain performance targets. For the purposes of disclosure and maintenance of certain statutory records, the number of Options is taken to be 100% of the number of 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 before they vest.
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 up to 127.5 pence, as follows:
Director No of Ordinary No. of options over
Shares ordinary shares
of 10p each of 10p each
==================== =============== ====================
Graham Stewart* 1,025,278 6,624,015
==================== =============== ====================
Helge Hammer** 544,481 3,762,048
==================== =============== ====================
Jonathan Cooper*** 200,957 2,965,225
==================== =============== ====================
*On 24 July 2016 304,400 FPIP Nil-Cost options and 51,223 Faroe Petroleum Co-Investment Plan Matching shares lapsed
** On 24 July 2016 188,561 FPIP Nil-Cost options and 52,208 Faroe Petroleum Co-Investment Plan Matching shares lapsed
*** On 24 July 2016 123,475 FPIP Nil-Cost options and 51,223 Faroe Petroleum Co-Investment Plan Matching shares lapsed
For further information please contact:
Faroe Petroleum plc Tel: +44 1224 650 920 Graham Stewart, CEO Stifel Nicolaus Europe Tel: +44 20 7710 7600 Limited Callum Stewart/Ashton Clanfield RBC Capital Markets Tel: +44 20 7653 4000 Matthew Coakes/ Daniel Conti/Roland Symonds FTI Consulting Tel: +44 20 7831 3113 Edward Westropp/Tom Hufton
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-cost 1,395,287
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 1,395,287
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
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-cost 831,235
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 831,235
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
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-cost 753,752
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 753,752
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHBBLFFQVFXBBX
(END) Dow Jones Newswires
August 10, 2016 06:35 ET (10:35 GMT)
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