Remuneration Information • Aug 1, 2019
Remuneration Information
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RNS Number : 4374H
Rockhopper Exploration plc
01 August 2019
1 August 2019
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Grant of options under Long Term Incentive Plan
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region, announces that on 31 July 2019, certain Directors were granted awards in the form of options to acquire Rockhopper shares under the Company's Long Term Incentive Plan ("LTIP") which has been operated annually since its approval by shareholders at the 2013 Annual General Meeting. A summary of the LTIP is included in the 2013 AGM notice which can be found on the Company's website and in the 2018 Annual Report.
Details of the awards are shown below:
| Name | Number of options under award |
| Sam Moody (CEO) | 2,100,000 |
| Stewart MacDonald (CFO) | 2,100,000 |
The awards are structured as nil-cost options and, subject to meeting specific performance criteria as outlined below, will normally vest three years after the start of the performance period.
The percentage of awards which will vest will be dependent on total shareholder return measured against a peer group of 14 other oil and gas companies over a three year period ending on 31 March 2022. Performance measurement for these awards will be based on the Company's average share price over the 90 day dealing period to 31 March 2019 measured against the average share price for the 90 day dealing period to 31 March 2022. No awards will vest in the event that the Company's total shareholder return is below the median of its peer group over the three year measurement period. In the event that the awards vest, the vested awards will normally remain exercisable for a period of seven years subject to the rules of the LTIP regarding leavers.
Set out below is the information required by Article 19(3) of the EU Market Abuse Regulation No 596/2014 in relation to the award of options over Rockhopper shares to certain Directors under the Company's LTIP:
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Samuel Moody |
| 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 | Rockhopper Exploration plc |
| b) | LEI | 213800IPXW6XRLVCL581 |
| 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 Identification code |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
| b) | Nature of the transaction | Award of options over Ordinary Shares of 1 pence each |
| c) | Price(s) and volume(s) | Date of transaction: 31 July 2019 Price: Nil Volume: 2,100,000 |
| d) | Aggregated information | Date of transaction: 31 July 2019 Aggregated volume: 2,100,000 Price: Nil |
| e) | Date of the transaction | 31 July 2019 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Stewart MacDonald |
| 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 | Rockhopper Exploration plc |
| b) | LEI | 213800IPXW6XRLVCL581 |
| 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 Identification code |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
| b) | Nature of the transaction | Award of options over Ordinary Shares of 1 pence each |
| c) | Price(s) and volume(s) | Date of transaction: 31 July 2019 Price: Nil Volume: 2,100,000 |
| d) | Aggregated information | Date of transaction: 31 July 2019 Aggregated volume: 2,100,000 Price: Nil |
| e) | Date of the transaction | 31 July 2019 |
| f) | Place of the transaction | Outside a trading venue |
The Company announces that the performance period for the LTIP awards granted on 22 April 2016 to certain Directors and employees has ended and none of the awards have vested.
Enquiries:
Rockhopper Exploration plc
Jan Davies, Company Secretary
Tel. +44 (0) 20 7390 0230 (via Vigo Communications)
Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor
James Asensio
Tel. +44 (0) 20 7523 8000
Peel Hunt LLP (Joint Broker)
Richard Crichton
David McKeown
Tel. +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona
Ben Simons
Tel. +44 (0) 20 7390 0231
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 [email protected] or visit www.rns.com.
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