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RNS Number : 4553Q Seplat Energy PLC 30 May 2024
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
Seplat Energy PLC ("Seplat" or "Company")
Share Awards granted under the Seplat Energy PLC 2024 Long Term Incentive Plan
("LTIP")
Lagos and London - 30(th) May 2024: The following awards ("LTIP Awards") over
ordinary shares of Seplat were granted under the LTIP to Executive Directors
of the Company on 28 May 2024 (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 2024
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
2024. 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 2024 Annual Report.
Name Position Total Number of Shares over which the award is granted*
Roger Brown Chief Executive Officer 1,567,196
Samson Ezugworie Chief Operations Officer 908,876
Eleanor Adaralegbe Chief Financial Officer 663,178
*In line with the 2024 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 (£1.660)
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 28 May 2024 (the Award date), the Company also granted the following awards
("Deferred Share Awards") in respect of the 2023 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 11(th) Annual General Meeting, 25% of the executive directors' annual
performance bonus relating to the 2023 financial year is deferred into an
award over shares and the shares will normally vest and be released on 31
December 2025 (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 253,543
Samson Ezugworie Chief Operations Officer 102,384
**The number of Shares awarded was calculated by reference to Seplat's closing
share price on 29 December 2023 of £1.24 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.
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
FOR: SEPLAT ENERGY PLC
Details of duly authorised officer of issuer responsible for making
notification:
Edith Onwuchekwa, Director, Legal/Company Secretary +234 (0) 1 277 0400
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 / Amendment Initial notification
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 financial instrument, type of instrument Ordinary shares of Seplat Energy PLC
Identification code
NGSEPLAT0008
b) Nature of the transaction Grant of:
(a) 2024 LTIP Award;
(b) Deferred Share Award in respect of 2023 Annual Bonus
all under Seplat Energy PLC 2024 Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s) Transaction(s)
(a) Nil 1,567,196 2024 LTIP
(b) Nil 253,543 2023 DB Shares
d) Aggregated information
- Aggregated volume
- Price 1,820,739 ordinary shares
Nil consideration
e) Date of the transaction 28 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
1,820,739 ordinary shares
Nil consideration
e)
Date of the transaction
28 May 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Samson Ezugworie
2 Reason for the notification
a) Position / status Chief Operations Officer
b) Initial notification / Amendment Initial notification
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 financial instrument, type of instrument Ordinary shares of Seplat Energy PLC
Identification code
NGSEPLAT0008
b) Nature of the transaction Grant of:
(a) 2024 LTIP Award;
(b) Deferred Share Award in respect of 2023 Annual Bonus
all under Seplat Energy PLC 2024 Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s) Transaction(s)
(a) Nil 908,876 2024 LTIP
(b) Nil 102,384 2023 DB Shares
d) Aggregated information
- Aggregated volume
- Price 1,011,260 ordinary shares
Nil consideration
e) Date of the transaction 28 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
1,011,260 ordinary shares
Nil consideration
e)
Date of the transaction
28 May 2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Eleanor Adaralegbe
2 Reason for the notification
a) Position / status Chief Financial Officer
b) Initial notification / Amendment Initial notification
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 financial instrument, type of instrument Ordinary shares of Seplat Energy PLC
Identification code
NGSEPLAT0008
b) Nature of the transaction Grant of 2024 LTIP Award under Seplat Energy PLC 2024 Long Term Incentive
Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
(a) Nil 663,178
(b)
d) Aggregated information
- Aggregated volume
- Price 663,178 ordinary shares
Nil consideration
e) Date of the transaction 28 May 2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
663,178 ordinary shares
Nil consideration
e)
Date of the transaction
28 May 2024
f)
Place of the transaction
Outside a trading venue
Enquiries:
Seplat Energy PLC
Eleanor Adaralegbe - Chief Financial Officer +234 1 277 0400 Ext 1110
Edith Onwuchekwa - Company Secretary
Chioma Afe - External Affairs +234 1 277 0444 Ext 1108
James Thompson - Investor Relations
Nwamaka Iloh - Company Secretariat
FTI Consulting
Ben Brewerton / Chris Laing +44 (0) 203 727 1000
seplat@fticonsulting.com (mailto:seplat@fticonsulting.com)
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