Picture of Seplat Energy logo

SEPL Seplat Energy News Story

0.000.00%
gb flag iconLast trade - 00:00
EnergyAdventurousMid CapSuper Stock

REG - Seplat Energy PLC - Share Awards granted under 2024 LTIP

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240530:nRSd4553Qa&default-theme=true

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)

 

 

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 contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHSDSSASELSEII

Recent news on Seplat Energy

See all news