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Genel Energy
Declaration of Voting Results & Voting Rights Announcements • Jun 23, 2020
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Declaration of Voting Results & Voting Rights Announcements
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National Storage Mechanism | Additional information
Genel Energy PLC (GENL)
Genel Energy PLC: Director/PDMR Shareholding
23-Jun-2020 / 12:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
23 June 2020
Genel Energy plc
('the Company')
2020 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities ('PDMRs')
Pursuant to the notification obligations under EU Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the Performance Share Plan ('PSP') and Restricted Share Plan ('RSP') on 22 June 2020 to the PDMRs set out below.
In addition, the Executive Directors elected to defer a proportion of their annual 2019 cash bonus into Company shares. Deferred bonus share awards were 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.
PSP awards granted to PDMRs in the UK were made in the form of nil-cost options, which become exercisable following the end of a three-year performance period, subject to the satisfaction of performance targets. Options are then exercisable until the tenth anniversary of the date of grant.
PSP awards granted to PDMRs in Turkey were made in the form of a nil-cost conditional share award and will be transferred following the end of a three-year performance period, subject to the satisfaction of performance targets.
The PSP performance period will run from 3 April 2020 to 2 April 2023.
RSP awards granted to PDMRs in the UK were made in the form of nil-cost options and become exercisable in three tranches; 25% on 3 April 2021, 25% on 3 April 2022 and 50% on 3 April 2023.
Following vesting, shares granted under the PSP and RSP are subject to the Company's retention policy under which Executive Committee members are required to retain shares for an additional two years.
The PSP awards are as follows:
| Name | No. of shares subject to PSP Award | Total number of shares over which options/awards are held following notification |
| Bill Higgs | 642,042 | 1,783,333 |
| Esa Ikaheimonen | 534,441 | 2,459,486 |
| Michael Adams | 242,280 | 660,062 |
| Pars Kutay | 351,027 | 1,702,182 |
| Paul Weir | 234,926 | 314,102 |
RSP award:
| Name | No. of shares subject to RSP Award | Total number of shares over which options/awards are held following notification |
| Paul Weir | 79,176 | 314,102 |
Deferred Bonus Share awards:
| Name | No. of shares subject to Deferred Bonus Share Award | Total number of shares over which options/awards are held following notification |
| Bill Higgs | 63,436 | 1,783,333 |
| Esa Ikaheimonen | 153,912 | 2,459,486 |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Bill Higgs |
| 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 Company's Performance Share Plan 2. Grant of nil-cost options as Deferred Bonus Share awards |
| c) | Price(s) and volumes(s) | 1. Nil cost 642,042 2. Nil cost 63,436 |
| d) | Aggregated information -Aggregated volume -Price |
705,478 Nil |
| e) | Date of the transaction | 22 June 2020 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Esa Ikaheimonen |
| 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 | 1. Grant of nil-cost options under the Company's Performance Share Plan 2. Grant of nil-cost options as Deferred Bonus Share awards |
| c) | Price(s) and volumes(s) | 1. Nil cost 534,441 2. Nil cost 153,912 |
| d) | Aggregated information -Aggregated volume -Price |
688,353 Nil |
| e) | Date of the transaction | 22 June 2020 |
| 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 242,280 shares |
| d) | Aggregated information -Aggregated volume -Price |
242,280 Nil |
| e) | Date of the transaction | 22 June 2020 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Pars Kutay |
| 2 | Reason for Notification | |
| a) | Position/status | Head of Government & Public Affairs |
| 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 a nil-cost contingent share award under the Company's performance share plan |
| c) | Price(s) and volumes(s) | Nil cost 351,027 shares |
| d) | Aggregated information -Aggregated volume -Price |
351,027 Nil |
| e) | Date of the transaction | 22 June 2020 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Paul Weir |
| 2 | Reason for Notification | |
| a) | Position/status | Chief Operating Officer |
| 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 Company's Performance Share Plan 2. Grant of nil-cost options under the Company's Restricted Share Plan |
| c) | Price(s) and volumes(s) | 3. Nil cost 234,926 4. Nil cost 79,176 s |
| d) | Aggregated information -Aggregated volume -Price |
314,102 Nil |
| e) | Date of the transaction | 22 June 2020 |
| 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 Communications Patrick d'Ancona |
+44 20 7830 9700 |
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 Taq Taq and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.
| ISIN: | JE00B55Q3P39 |
| Category Code: | DSH |
| TIDM: | GENL |
| LEI Code: | 549300IVCJDWC3LR8F94 |
| Sequence No.: | 71453 |
| EQS News ID: | 1076529 |
| End of Announcement | EQS News Service |