BowLeven Plc Director's Interests (7992I)

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RNS Number : 7992I

BowLeven Plc

21 June 2017

21 June 2017

Bowleven plc ("Bowleven" or "the Company")

Director's Interests

Bowleven announces that, on 19 June 2017, a total of 480,000 ordinary shares of GBP0.10 each in the Company ("Shares") vested in favour of David Clarkson, Chief Operating Officer ("the Director") under the terms of Bowleven's 2006 Long Term Incentive Plan ("the Plan"). This vesting related to an award that was granted to him under the Plan on 4 December 2013 ("the Award"). As announced on 21 December 2016, the vesting of the Award (which was originally subject to a performance target measured over the three years from grant) was deferred and made subject to the satisfaction of an additional condition over the period ending on 4 June 2017. Following the expiry of this period, it was determined that the Award vested in full.

The vesting of the Award has been satisfied by the transfer of Shares to the Director by the trustee of the Company's Employee Benefit Trust. The Director subsequently instructed to sell only such number of the Shares as was necessary to account for tax payable on the vesting of the Award. Following the vesting and sale, the beneficial interests of the Director in the Shares of the Company are set out below.

 
    Director      Previous Shareholding  Current Shareholding  % issued share capital (excl. treasury shares) 
----------------  ---------------------  --------------------  ---------------------------------------------- 
 David Clarkson          379,753               664,695                              0.20 
----------------  ---------------------  --------------------  ---------------------------------------------- 
 

ENQUIRIES

For further information, please contact:

Bowleven plc

   Christopher Ashworth, Chairman                                             00 44 131 524 5678 

Eli Chahin, Chief Executive

Brunswick Group LLP

Patrick Handley 00 44 207 404 5959

Will Rowberry

Cenkos Securities plc (NOMAD)

Derrick Lee 00 44 131 220 6939

Neil McDonald

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

 
  1    Details of the person discharging managerial responsibilities/person 
        closely associated 
----  --------------------------------------------------------------------------- 
  a)   Name                         David Clarkson 
----  --------------------------  ----------------------------------------------- 
  2    Reason for the notification 
----  --------------------------------------------------------------------------- 
  a)   Position/status              PDMR (Chief Operating Officer) 
----  --------------------------  ----------------------------------------------- 
  b)   Initial notification/        Initial Notification 
        Amendment 
----  --------------------------  ----------------------------------------------- 
  3    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
----  --------------------------------------------------------------------------- 
  a)   Name                         Bowleven plc 
----  --------------------------  ----------------------------------------------- 
  b)   LEI                          213800UITVIP4EWSPE58 
----  --------------------------  ----------------------------------------------- 
  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               Ordinary shares of 10p each ("Shares") 
        the financial 
        instrument, type 
        of instrument 
---- 
       Identification               GB00B04PYL99 
        code 
----  --------------------------  ----------------------------------------------- 
  b)   Nature of the               Acquisition of Shares following the vesting 
        transaction                 of awards granted on 4 December 2013 pursuant 
                                    to the terms of the Bowleven 2006 Long Term 
                                    Incentive Plan. 
----  --------------------------  ----------------------------------------------- 
  c)   Price(s) and volume(s)       Price(s)    Volume(s) 
                                    ----------  ---------- 
                                       GBP0       480,000 
                                    ----------  ---------- 
----  --------------------------  ----------------------------------------------- 
  d)    Aggregated information 
          *    Aggregated volume 
                                     Not applicable 
 
          *    Price 
----  --------------------------  ----------------------------------------------- 
  e)   Date of the transaction     19 June 2017 
----  --------------------------  ----------------------------------------------- 
  f)   Place of the transaction    London Stock Exchange 
----  --------------------------  ----------------------------------------------- 
  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               Ordinary shares of 10p each ("Shares") 
        the financial 
        instrument, type 
        of instrument 
---- 
       Identification               GB00B04PYL99 
        code 
----  --------------------------  ----------------------------------------------- 
  b)   Nature of the               Sale of Shares 
        transaction 
----  --------------------------  ----------------------------------------------- 
  c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                    -----------  ---------- 
                                     GBP0.2811     195,058 
                                    -----------  ---------- 
----  --------------------------  ----------------------------------------------- 
  d)    Aggregated information 
          *    Aggregated volume 
                                     Not applicable 
 
          *    Price 
----  --------------------------  ----------------------------------------------- 
  e)   Date of the transaction     20 June 2017 
----  --------------------------  ----------------------------------------------- 
  f)   Place of the transaction    London Stock Exchange 
----  --------------------------  ----------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 21, 2017 11:37 ET (15:37 GMT)