Premier Oil PLC Director/PDMR Shareholding (6075R)
30 Junio 2020 - 12:00PM
UK Regulatory
TIDMPMO
RNS Number : 6075R
Premier Oil PLC
30 June 2020
Premier Oil plc
(the 'Company' or 'Premier')
Grant of Deferred Bonus Awards in
relation to the year ended 31 December 2019
As set out in the Company's Annual Report for the year ended 31
December 2019, annual bonuses in relation to 2019 performance were
approved by the Remuneration Committee in March 2020 and, in line
with the Company's Remuneration Policy, an element of the annual
bonus is deferred into shares for three years for Executive
Directors and other key employees. However, due to the uncertain
outlook caused by COVID-19 and the fall in the Company's share
price at that time, the Remuneration Committee took the decision to
delay the grant of the Deferred Bonus Awards (the "Awards") from
its normal timetable following the publication of its Full Year
Results, until a more appropriate time.
Following a recovery in commodity markets over recent weeks,
reflected in the recovery in the share price, and the approval of
the Company's Remuneration Report at the Company's AGM on 25 June
2020, the Remuneration Committee concluded that it is now
appropriate to make the Awards to all eligible employees in
accordance with the Company's Remuneration Policy.
The Awards have been granted in the form of contingent share
awards over ordinary shares in the Company and will normally vest
three years from the date of award. In line with corporate
governance best practice the Committee will also take into account
corporate performance and the shareholder experience with regard to
the vesting of these Awards.
As a result of the above, Awards were granted to the Executive
Directors named below in relation to 2019 annual bonuses above 50%
of salary. The Awards were calculated by reference to the average
of the mid-market closing prices over the five dealing days
preceding the date of award, being GBP0.51184.
Director Shares awarded Award price Date of award
Tony Durrant 311,269 GBP0.51184 25 June 2020
--------------- ------------ --------------
Richard Rose 193,517 GBP0.51184 25 June 2020
--------------- ------------ --------------
Rachel Rickard
Premier Oil plc
+44 (0)20 7824 1067
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 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 instrument Ordinary shares of 12.5 pence each
Identification code
GB00B43G0577
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Grant of Deferred Bonus Awards.
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 311,269
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information - Aggregated volume 311,269
- Price GBP0.00
------------------
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 2020-06-25
------------------------------------------------------------ -----------------------------------
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 instrument Ordinary shares of 12.5 pence each
Identification code
GB00B43G0577
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Grant of Deferred Bonus Awards.
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 193,517
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information - Aggregated volume 193,517
- Price GBP0.00
------------------
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 2020-06-25
------------------------------------------------------------ -----------------------------------
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
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END
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