TIDMSQZ

RNS Number : 8938Y

Serica Energy PLC

17 May 2021

17 May 2021

Serica Energy plc

("Serica" or "the Company")

Long Term Incentive Plan Awards

London, 17 May 2021 - Serica Energy plc (AIM: SQZ) announces that today the Company granted nil-cost options over a total of 2,725,032 ordinary shares of US$0.10 each (representing approximately 1% of the Company's issued share capital) in accordance with the rules of the Serica Energy plc 2017 Long Term Incentive Plan ("LTIP"). The award has been made to members of the Group's executive team and senior management.

These awards include a total of 1,174,698 ordinary shares of US$0.10 each for the executive directors as set out in the table below and are subject to vesting criteria that are designed to incentivise performance that delivers value for all shareholders.

The vesting criteria are based on absolute share price performance over a three-year period and specific performance targets related to carbon emissions from operations over the same period. For the awards to vest in full, a 100% increase in average share price must be maintained for at least a six-month period together with a significant decrease in carbon emissions per barrel of oil equivalent produced.

Director / PDMR Position Number of shares awarded

   Antony Craven Walker                            Executive Chairman.          587,349 
   Mitch Flegg                                           Chief Executive Officer        587,349 

Enquiries:

 
 Serica Energy plc                                 +44 (0)20 7390 0230 
 Tony Craven Walker, Executive Chairman 
 Mitch Flegg, CEO 
 
 Peel Hunt (Nomad & Joint Broker)                  +44 (0)20 7418 8900 
 Richard Crichton / David McKeown 
 
 Jefferies (Joint Broker)                          +44 (0)20 7029 8000 
 Tony White / Will Soutar 
 
 Vigo Consulting                                   +44 (0)20 7390 0230 
 Patrick d'Ancona / Chris McMahon / Simon    serica@vigoconsulting.com 
  Woods 
 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                      Antony Craven Walker 
      ----------------------------------------  ------------------------------ 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                           Executive Chairman 
      ----------------------------------------  ------------------------------ 
 b)    Initial notification/Amendment            Initial Notification 
      ----------------------------------------  ------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                      Serica Energy plc 
      ----------------------------------------  ------------------------------ 
 b)    LEI                                       213800EZZOKA815VC426 
      ----------------------------------------  ------------------------------ 
 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              Ordinary shares of US$0.10 
        instrument, type of instrument            per share par value 
      ----------------------------------------  ------------------------------ 
       Identification code                       GB00B0CY5V57 
      ----------------------------------------  ------------------------------ 
 b)    Nature of the transaction                 Award of options under the 
                                                  LTIP 
      ----------------------------------------  ------------------------------ 
 c)    Price(s) and volumes(s)                   Price(s)        Volume(s) 
      ----------------------------------------  --------------  -------------- 
                                                           N/A   587,349 
  ------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A (single transaction) 
      ----------------------------------------  ------------------------------ 
  Aggregated volume 
 --------------------------------------------------------  ------------------- 
  Price 
 --------------------------------------------------------  ------------------- 
 e)    Date of the transaction                   17 May 2021 
      ----------------------------------------  ------------------------------ 
 f)    Place of the transaction                  London Stock Exchange, AIM 
      ----------------------------------------  ------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                      Mitch Flegg 
      ----------------------------------------  ------------------------------ 
 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                                      Serica Energy plc 
      ----------------------------------------  ------------------------------ 
 b)    LEI                                       213800EZZOKA815VC426 
      ----------------------------------------  ------------------------------ 
 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              Ordinary shares of US$0.10 
        instrument, type of instrument            per share par value 
      ----------------------------------------  ------------------------------ 
       Identification code                       GB00B0CY5V57 
      ----------------------------------------  ------------------------------ 
 b)    Nature of the transaction                 Award of options under the 
                                                  LTIP 
      ----------------------------------------  ------------------------------ 
 c)    Price(s) and volumes(s)                   Price(s)        Volume(s) 
      ----------------------------------------  --------------  -------------- 
                                                           N/A   587,349 
  ------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A (single transaction) 
      ----------------------------------------  ------------------------------ 
  Aggregated volume 
 --------------------------------------------------------  ------------------- 
  Price 
 --------------------------------------------------------  ------------------- 
 e)    Date of the transaction                   17 May 2021 
      ----------------------------------------  ------------------------------ 
 f)    Place of the transaction                  London Stock Exchange, AIM 
      ----------------------------------------  ------------------------------ 
 

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END

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(END) Dow Jones Newswires

May 17, 2021 11:11 ET (15:11 GMT)

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