Harbour Energy plc
(the "Company" or "Harbour")
Grant of Awards under the Company's 2017
Long Term Incentive Plan ("2017 LTIP")
Grant of
Performance Share Awards
On 8 April 2024, Performance Share Awards (the
"Awards") were granted to
the Executive Directors named below under the 2017 LTIP. The Awards
have been granted in the form of contingent share awards over
ordinary shares in the Company and the Awards will only vest if
certain performance targets are met over a three-year performance
period from 1 January 2024 to 31 December 2026 (the "Performance Period").
The performance target for the Awards is based
on two equally weighted measures: the Company's Total Shareholder
Return ("TSR") compared to
the FTSE 100 (excluding investment trusts) and relative TSR
compared to a bespoke group of comparators. Full details of the
comparator group are set out in the Directors Remuneration Report
included in the 2023 Annual Report and Accounts, available at
harbourenergy.com.
Subject to the achievement of the performance
target and the Remuneration Committee's assessment of overall
Company performance, the Awards will normally vest on 8 April 2027,
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 Awards are
also subject to malus and clawback provisions under the 2017
LTIP.
The Awards were calculated using the average of
the mid-market closing prices for the five dealing days preceding
the award date.
|
Director
|
Percentage of salary
awarded
|
Shares awarded
|
Award price
|
Date of award
|
|
Linda Z. Cook
|
300%
|
939,947
|
£2.835
|
8 April
2024
|
|
Alexander Krane
|
300%
|
618,222
|
£2.835
|
8 April
2024
|
Grant of
Deferred Bonus Awards
In accordance with the Company's Remuneration
Policy, on 8 April 2024, Deferred Bonus Awards were granted to the
Executive Directors named below in respect of 50% of the 2023
Annual Bonus awarded to them. 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.
|
Director
|
Shares awarded
|
Award price
|
Date of award
|
|
Linda Z. Cook
|
143,915
|
£2.835
|
8 April
2024
|
|
Alexander Krane
|
91,555
|
£2.835
|
8 April
2024
|
Enquiries
Harbour Energy
plc Tel:
020 7730 1111
Elizabeth Brooks, Head of Investor
Relations
Rachel Rickard, Company
Secretary
The information set out below is provided in
accordance with the requirements of Article 19(3) of
MAR.
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Linda Z. Cook
|
|
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
|
Harbour Energy 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
instrument
Identification code
|
Ordinary shares of 0.002 pence each
GB00BMBVGQ36
|
|
b)
|
Nature of the transaction
|
i)
Grant of Performance Share Awards under the Harbour Energy 2017
Long Term Incentive Plan
ii)
Grant of Deferred Bonus Awards under the Harbour Energy 2017 Long
Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
i)
£0.00
ii)
£0.00
|
939,947
143,915
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
1,083,862
£0.00
|
|
e)
|
Date of the transaction
|
2024-04-08
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name
|
Alexander Krane
|
|
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
|
Harbour Energy 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
instrument
Identification code
|
Ordinary shares of 0.002 pence each
GB00BMBVGQ36
|
|
b)
|
Nature of the transaction
|
i)
Grant of Performance Share Awards under the Harbour Energy 2017
Long Term Incentive Plan
ii)
Grant of Deferred Bonus Awards under the Harbour Energy 2017 Long
Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
i)
£0.00
ii)
£0.00
|
618,222
91,555
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
709,777
£0.00
|
|
e)
|
Date of the transaction
|
2024-04-08
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|