06.04.2023 15:00:03

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 Companys 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

  1. Grant of nil-cost options under the Companys Performance Share Plan
  2. Grant of nil-cost options under the Companys Deferred Bonus Plan

 

c)

Price(s) and volumes(s)

  1. Nil cost

652,155

  1. Nil cost

33,368

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 Companys 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 Companys 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 dAncona

+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

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