Seplat Energy PLC Director/PDMR Shareholding (7681Z)
17 Mayo 2023 - 7:57AM
UK Regulatory
TIDMSEPL
RNS Number : 7681Z
Seplat Energy PLC
17 May 2023
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
Seplat Energy PLC ("Seplat" or "Company")
Share Awards granted under the Seplat Energy PLC 2014 Long Term
Incentive Plan ("LTIP")
Lagos and London - 17 May 2023: The following awards ("LTIP
Awards") over ordinary shares of 0.5 Naira each ("Shares") of
Seplat were granted under the LTIP to Executive Directors of the
Company on 16 May 2023 (the "Award Date") as set out below using
the average share price over the 5-day period prior to the date of
grant. For the avoidance of doubt, the LTIP awards are granted in
respect of the 2023 financial year.
Vesting of the LTIP Awards is dependent on the achievement of
stretching relative and absolute Total Shareholder Return ("TSR")
performance targets, an overall assessment of corporate performance
through an underpin and continued employment over a three-year
performance period which began on 1 January 2023. The LTIP Awards
will be subject to a two-year post vesting holding period. Full
details of the vesting conditions of these LTIP Awards will be set
out in the Company's 2023 Annual Report.
Name Position Total Number of Shares
over which the award
is granted*
Roger Brown Chief Executive Officer 2,779,181
-------------------------- -----------------------
Emeka Onwuka Chief Financial Officer 1,575,125
-------------------------- -----------------------
Samson Ezugworie Chief Operations Officer 1,509,650
-------------------------- -----------------------
*In line with the Directors' Remuneration Policy, the number of
shares awarded was calculated by dividing the monetary value of the
salary multiple relevant for each Executive Director by the grant
price, which equals the five-day average share price prior to the
date on which the LTIP Awards were granted (GBP0.974)
The Remuneration Committee retains discretion to make
adjustments to the LTIP Awards vesting level and amounts payable
resulting from the application of the performance measures if it
considers that the outcomes are not a fair and accurate reflection
of corporate performance.
On 16 May 2023 (the Award date), the Company also granted the
following awards ("Deferred Share Awards") in respect of the 2022
Annual Performance Bonus over Shares under the LTIP to Executive
Directors of the Company as set out below. Under the Directors'
Remuneration Policy approved by shareholders at Seplat's 2021
Annual General Meeting, 25% of the executive directors' annual
performance bonus relating to the 2022 financial year is deferred
into an award over shares and the shares will normally vest and be
released on 31 December 2024 (two years following the end of the
performance year in respect of which the Deferred Share Award is
granted) subject to continued employment in line with the LTIP
rules.
Name Position Total Number of Shares
over which the award
is granted**
Roger Brown Chief Executive Officer 182,142
-------------------------- -----------------------
Emeka Onwuka Chief Financial Officer 95,124
-------------------------- -----------------------
Samson Ezugworie Chief Operations Officer 41,224
-------------------------- -----------------------
**The number of Shares awarded was calculated by reference to
Seplat's closing share price on 31 December 2022 of GBP1.05 in line
with the approved remuneration policy.
No consideration was paid for the above Awards and no
consideration is due on the vesting of the Awards.
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.
Signed:
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Roger Brown
---------------------------------------------- ----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position / status Chief Executive Officer
---------------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/ Amendment
---------------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Seplat Energy 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 Ordinary shares of Seplat Energy PLC
financial instrument, of 0.5 Naira each
type of instrument
Identification code
NGSEPLAT0008
---------------------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of:
(a) nil-cost option in respect of the
2023 LTIP Award;
(b) Deferred Share Award in respect of
2022 Annual Bonus
all under Seplat Energy PLC 2014 Long
Term Incentive Plan.
---------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s) Volume(s)
(a) Nil 2,779,181 2023 LTIP
--------- ---------- --------------
(b) Nil 182,142 2022 Deferred
Shares
--------- ---------- --------------
---------------------------------------------- ----------------------------------------------
d) Aggregated information - Aggregated volume
- Price 2,961,323 ordinary shares of 0.5 Naira
------------------ each
Nil consideration
---------------------------------------------- ----------------------------------------------
e) Date of the transaction 16 May 2023
---------------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Emeka Onwuka
---------------------------------------------- ----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position / status Chief Financial Officer
---------------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/ Amendment
---------------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Seplat Energy 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 Ordinary shares of Seplat Energy PLC
financial instrument, of 0.5 Naira each
type of instrument
Identification code
NGSEPLAT0008
---------------------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of:
(a) nil-cost option in respect of the
2023 LTIP Award;
(b) Deferred Share Award in respect of
2022 Annual Bonus
all under Seplat Energy PLC 2014 Long
Term Incentive Plan.
---------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s) Volume(s)
(a) Nil 1,575,125 2023 LTIP
--------- ---------- --------------
(b) Nil 95,124 2022 Deferred
Shares
--------- ---------- --------------
---------------------------------------------- ----------------------------------------------
d) Aggregated information - Aggregated volume
- Price 1,670,249 ordinary shares of 0.5 Naira
------------------ each
Nil consideration
---------------------------------------------- ----------------------------------------------
e) Date of the transaction 16 May 2023
---------------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Samson Ezugwuorie
---------------------------------------------- ----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position / status Chief Operations Officer
---------------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/ Amendment
---------------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Seplat Energy 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 Ordinary shares of Seplat Energy PLC
financial instrument, of 0.5 Naira each
type of instrument
Identification code
NGSEPLAT0008
---------------------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of:
(a) nil-cost option in respect of the
2023 LTIP Award;
(b) Deferred Share Award in respect of
2022 Annual Bonus
all under Seplat Energy PLC 2014 Long
Term Incentive Plan.
---------------------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s) Volume(s)
(a) Nil 1,509,650 2023 LTIP
--------- ---------- --------------
(b) Nil 41,224 2022 Deferred
Shares
--------- ---------- --------------
---------------------------------------------- ----------------------------------------------
d) Aggregated information - Aggregated volume
- Price 1,550,874 ordinary shares of 0.5 Naira
------------------ each
Nil consideration
---------------------------------------------- ----------------------------------------------
e) Date of the transaction 16 May 2023
---------------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------------------------- ----------------------------------------------
Enquiries:
Seplat Energy PLC
Edith Onwuchekwa, Company +234 1 277 0400 Ext
Secretary 1110
Ngozi Osuzoka (Company secretariat) +234 1 277 0444 Ext
1108
--------------------------
FTI Consulting
--------------------------
Ben Brewerton / Sara Powell +44 (0) 203 727 1000
/ James Styles seplat@fticonsulting.com
--------------------------
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END
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May 17, 2023 08:57 ET (12:57 GMT)
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