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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Harbour Energy Plc | LSE:PMO | London | Ordinary Share | Ordinary Shares |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.40 | 22.50 | 22.60 | 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
TIDMPMO
RNS Number : 0777T
Premier Oil PLC
15 March 2019
Premier Oil plc
(the 'Company' or 'Premier')
Grant of Awards under the Company's 2017 Long Term Incentive Plan ("2017 LTIP")
Grant of Performance Share Awards and Restricted Share Awards
On 14 March 2019, Performance Share Awards and Restricted Share Awards (the "Awards") were granted to the Executive Directors named below under the Company's 2017 Long Term Incentive Plan, which was approved by shareholders at the Company's 2017 Annual General Meeting and forms part of the Company's 2017 Remuneration Policy. The Awards have been granted in the form of contingent share awards over ordinary shares in the Company ("Ordinary Shares") and the Awards will only vest if certain performance targets are met over a three-year performance period from 1 January 2019 to 31 December 2021 (the "Performance Period").
The performance target for the Performance Share Awards is based on the Company's TSR performance relative to a comparator group of international oil and gas sector peers. 100 per cent vesting will require upper decile performance relative to the comparator group with 25 per cent vesting for median performance and straight-line vesting in between. Subject to the achievement of the performance target and the Remuneration Committee's assessment of overall Company performance, the Performance Share Awards will normally vest on 14 March 2022, being three years from the date of grant. The Executive Directors will then be required to hold the shares (on an after-tax basis) until the fifth anniversary of the date of grant.
The Restricted Share Awards will normally vest in one third increments on the third, fourth and fifth anniversary of the date of grant, subject to continued employment, the achievement of a performance underpin based on the ratio of the Company's net debt to EBITDA as agreed with the Company's lenders over the Performance Period (currently three times net debt to EBITDA) and the Remuneration Committee's assessment of overall Company performance. The Executive Directors will then be required to hold the shares (on an after-tax basis) until the fifth anniversary of the date of grant.
Grant of Deferred Bonus Awards
On 14 March 2019, Deferred Bonus Awards were granted to the Executive Directors named below in relation to 2018 annual bonuses above 50% of salary. The Deferred Bonus Awards have been granted in the form of contingent share awards over ordinary shares in the Company and will normally vest three years from date of grant.
Daniel Rose
Premier Oil plc
+44 (0)20 7730 1111
The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.
Hot Features
Premium
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Tony Durrant
-------------------------------------------------------- -------------------------------------------------------
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 Premier Oil plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800YPC42DYBKVPF97
-------------------------------------------------------- -------------------------------------------------------
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 12.5 pence each
instrument
Identification code GB00B43G0577
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction (i) Grant of Performance Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
(ii) Grant of Restricted Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
and
(iii) Grant of Deferred Bonus Awards.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 1,265,891
(ii) GBP0.00 144,673
(iii) GBP0.00 109,155
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 1,519,719
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Robin Allan
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Director, North Sea and Exploration
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Premier Oil plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800YPC42DYBKVPF97
-------------------------------------------------------- -------------------------------------------------------
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 12.5 pence each
instrument
Identification code
GB00B43G0577
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction (i) Grant of Performance Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
(ii) Grant of Restricted Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
and
(iii) Grant of Deferred Bonus Awards.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 787,010
(ii) GBP0.00 89,944
(iii) GBP0.00 62,016
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 938,970
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Richard Rose
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Finance Director
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Premier Oil plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800YPC42DYBKVPF97
-------------------------------------------------------- -------------------------------------------------------
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 12.5 pence each
instrument
Identification code
GB00B43G0577
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction (i) Grant of Performance Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
(ii) Grant of Restricted Share Awards under the
Premier Oil 2017 Long Term Incentive Plan;
and
(iii) Grant of Deferred Bonus Awards.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 787,010
(ii) GBP0.00 89,944
(iii) GBP0.00 74,113
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 951,067
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DSHUVUNRKBAOAAR
(END) Dow Jones Newswires
March 15, 2019 12:30 ET (16:30 GMT)
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