SEPLAT Petroleum Development Co PLC Director/PDMR Shareholding (1438D)

TIDMSEPL

RNS Number : 1438D

SEPLAT Petroleum Development Co PLC

24 April 2017

Seplat Petroleum Development Company plc

24 April 2017

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

Seplat Petroleum Development Company plc

2017 Share Awards granted under the 2014 Long-Term Incentive Plan ("LTIP")

The following awards over ordinary shares of 0.5 Naira each ("Shares") of Seplat Petroleum Development Company plc ("Seplat") were granted under the Seplat Petroleum Development Company plc 2014 Long-Term Incentive Plan ("LTIP") to Executive Directors of the Company on 20 April 2017 as set out below.

The awards will normally vest on 20 April 2020 being the third anniversary of the Award Date subject to relative TSR performance condition and reserves growth underpin.

 
 Name            Position           Number of Shares 
                                     over which award 
                                     granted* 
==============  =================  ================== 
                 Chief Executive 
 Austin Avuru     Officer           1,609,375 
==============  =================  ================== 
                 Chief Financial 
 Roger Brown      Officer           978,500 
==============  =================  ================== 
 

* In line with the approach approved by the Remuneration Committee, the number of shares to be granted was calculated by dividing the monetary value of the salary multiple relevant for each PDMR by the higher of the average share price over Q1 2017 or GBP1. As the average share price over Q1 2017 was GBP0.72, the calculation has been performed based on GBP1 share price.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1     Details of the person discharging managerial responsibilities/person closely associated 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                      Austin Avuru 
----  --------------------------------------------------------  ------------------------------------------------------ 
 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                                                      Seplat Petroleum Development Company plc 
----  --------------------------------------------------------  ------------------------------------------------------ 
 b)    LEI                                                       029200711C4S4CB2E982 
----  --------------------------------------------------------  ------------------------------------------------------ 
 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          Ordinary shares of Seplat Petroleum Development 
        instrument                                               Company plc of 0.5 Naira each 
 
        Identification code 
                                                                 NGSEPLAT0008 
----  --------------------------------------------------------  ------------------------------------------------------ 
 b)    Nature of the transaction                                 Grant of share award under the Seplat Petroleum 
                                                                 Development Company plc 2014 Long-Term Incentive 
                                                                 Plan 
----  --------------------------------------------------------  ------------------------------------------------------ 
 c)    Price(s) and volume(s)                                    Price(s)   Volume(s) 
                                                                  Nil        1,609,375 
----  --------------------------------------------------------  ------------------------------------------------------ 
 d)    Aggregated information-  Aggregated volume 
        -  Price                                                   1,609,375 ordinary shares of 0.5 Naira each 
 
                                                                   Nil consideration 
----  --------------------------------------------------------  ------------------------------------------------------ 
 e)    Date of the transaction                                   20 April 2017 
----  --------------------------------------------------------  ------------------------------------------------------ 
 f)    Place of the transaction                                  Outside a trading venue 
----  --------------------------------------------------------  ------------------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                      Roger Brown 
----  --------------------------------------------------------  ------------------------------------------------------ 
 2     Reason for the notification 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Position/status                                           Chief Financial Officer 
----  --------------------------------------------------------  ------------------------------------------------------ 
 b)    Initial notification/Amendment                            Initial notification 
----  --------------------------------------------------------  ------------------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
----  ---------------------------------------------------------------------------------------------------------------- 
 a)    Name                                                      Seplat Petroleum Development Company plc 
----  --------------------------------------------------------  ------------------------------------------------------ 
 b)    LEI                                                       029200711C4S4CB2E982 
----  --------------------------------------------------------  ------------------------------------------------------ 
 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          Ordinary Shares of Seplat Petroleum Development 
        instrument                                               Company plc of 0.5 Naira each 
 
        Identification code                                      NGSEPLAT0008 
----  --------------------------------------------------------  ------------------------------------------------------ 
 b)    Nature of the transaction                                 Grant of share award under the Seplat Petroleum 
                                                                 Development Company plc 2014 Long-Term Incentive 
                                                                 Plan 
----  --------------------------------------------------------  ------------------------------------------------------ 
 c)    Price(s) and volume(s)                                    Price(s)   Volume(s) 
                                                                  Nil        978,500 
----  --------------------------------------------------------  ------------------------------------------------------ 
 d)    Aggregated information-  Aggregated volume 
        -  Price                                                   978,500 ordinary shares of 0.5 Naira each 
 
                                                                   Nil consideration 
----  --------------------------------------------------------  ------------------------------------------------------ 
 e)    Date of the transaction                                   20 April 2017 
----  --------------------------------------------------------  ------------------------------------------------------ 
 f)    Place of the transaction                                  Outside a trading venue 
----  --------------------------------------------------------  ------------------------------------------------------ 
 

Enquiries:

 
 Seplat Petroleum Development 
  Company Plc 
 Dr. Mirian Kachikwu, General      [phone] 
  Counsel Ngozi Osuzoka (company    Ext 1110 +234 
  secretariat)                      1 277 0400 Ext 
                                    1108 
 
 FTI Consulting 
 Ben Brewerton / Sara Powell       [phone] 
  / James Styles                    1000 
                                    [e-mail] 
 

The company news service from the London Stock Exchange

END

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April 24, 2017 07:56 ET (11:56 GMT)