Genel Energy PLC: Director/PDMR Shareholding
Genel Energy PLC (GENL)
Genel Energy PLC: Director/PDMR Shareholding
06-Apr-2023 / 14:00 GMT/BST
6 April 2023
Genel Energy plc (the ‘Company’)
2023 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities (‘PDMRs’)
Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the 2021 Performance Share Plan (‘PSP’) and Deferred Bonus Plan (‘DBP’) on 6 April 2023 to the PDMRs set out below.
PSP awards
PSP awards granted were made in the form of nil-cost options.
Following vesting, shares granted under the PSP are subject to the Company’s retention policy under which Executive Committee members are required to retain shares for an additional two years.
Name
No. of shares subject to PSP Award
Total number of shares over which options/awards are held following notification
Paul Weir
652,155
1,134,068
Mike Adams
279,556
726,082
Luke Clements
267,227
547,819
DBP award
In addition, Paul Weir deferred a proportion of his CEO 2022 cash bonus into Company shares under the DBP. The DBP award was made in the form of nil-cost options that become exercisable after two years. Options are then exercisable until the tenth anniversary of the grant date.
Name
No. of shares subject to Deferred Bonus Share Award
Total number of shares over which options/awards are held following notification
Paul Weir
33,368
1,134,068
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Paul Weir
2
Reason for Notification
a)
Position/status
CEO
b)
Initial notification / Amendment
Initial notification
3
Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genel Energy plc
b)
LEI
549300IVCJDWC3LR8F94
4
Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 10 pence each
JE00B55Q3P39
b)
Nature of the transaction
Grant of nil-cost options under the Company’s Performance Share Plan Grant of nil-cost options under the Company’s Deferred Bonus Plan
c)
Price(s) and volumes(s)
Nil cost652,155
Nil cost33,368
d)
Aggregated information
-Aggregated volume
-Price
685,523
Nil
e)
Date of the transaction
6 April 2023
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Luke Clements
2
Reason for Notification
a)
Position/status
CFO
b)
Initial notification / Amendment
Initial notification
3
Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genel Energy plc
b)
LEI
549300IVCJDWC3LR8F94
4
Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 10 pence each
JE00B55Q3P39
b)
Nature of the transaction
Grant of nil-cost options under the Company’s Performance Share Plan
c)
Price(s) and volumes(s)
Nil cost
267,227 shares
d)
Aggregated information
-Aggregated volume
-Price
267,227
Nil
e)
Date of the transaction
6 April 2023
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Michael Adams
2
Reason for Notification
a)
Position/status
Technical Director
b)
Initial notification / Amendment
Initial notification
3
Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genel Energy plc
b)
LEI
549300IVCJDWC3LR8F94
4
Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 10 pence each
JE00B55Q3P39
b)
Nature of the transaction
Grant of nil-cost options under the Company’s Performance Share Plan
c)
Price(s) and volumes(s)
Nil cost
279,556 shares
d)
Aggregated information
-Aggregated volume
-Price
279,556
Nil
e)
Date of the transaction
6 April 2023
f)
Place of the transaction
Outside a trading venue
-ends-
For further information please contact:
Genel Energy
Andrew Benbow, Head of Communications
+44 20 7659 5100
Vigo Consulting
Patrick d’Ancona
+44 20 7390 0230
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Kurdistan Region of Iraq, and a committed dividend programme that is material and sustainable. Genel continues to seek opportunities to add new resilient and cash-generative assets to its portfolio, with the goal of progressing its dividend in the long-term. For further information, please refer to www.genelenergy.com
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
ISIN: JE00B55Q3P39, NO0010894330 Category Code: RDN TIDM: GENL LEI Code: 549300IVCJDWC3LR8F94 Sequence No.: 235610 EQS News ID: 1603385
End of Announcement EQS News Service