Harbour Energy PLC — Director's Dealing 2017

Apr 18, 2017

National Storage Mechanism | Additional information

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RNS Number : 5123C

Premier Oil PLC

18 April 2017

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

Premier Oil plc (the "Company") hereby notifies the market of the following transactions of which it has been notified under Article 19.1 of the EU Market Abuse Regulation ("MAR").

Grant of Performance Share Awards and Equity Pool Awards

Performance Share Awards and Equity Pool Awards (the "Awards") were granted to the Executive Directors named below on 12 April 2017 under the Company's 2009 Long Term Incentive Plan (the "2009 LTIP"). The Awards were approved in principle by the Remuneration Committee on 25 August 2016 with the grant of the Awards being postponed due to dealing restrictions as a result of the ongoing refinancing of the Group's debt.

The Awards will only vest if certain performance conditions are met. Details of these performance conditions are set out in the Directors' Remuneration Report within the 2016 Annual Report and Financial Statements. 

The earliest vesting date for the Awards is 1 January 2019. 50% of any shares vesting from the Awards will be subject to a mandatory deferral period of three years and will not be eligible for a discretionary Matching Share Award.

Grant of Deferred Bonus Awards

Deferred Bonus Awards were granted to the Executive Directors named below on 12 April 2017 in relation to 2016 annual bonus payments above 50% of salary. The Deferred Bonus Awards vest three years from the date of grant.

Andy Gibb

Group General Counsel/Company Secretary

Premier Oil plc

+44 (0)20 7730 1111

The information set out below is provided in accordance with the requirements of Article 19(3) of MAR.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Tony Durrant

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

Premier Oil plc

b)

LEI

213800YPC42DYBKVPF97

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 12.5 pence each

GB00B43G0577

b)

Nature of the transaction

(i)   An award of 6.00 Equity Pool Participation Points (6% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and

(ii)  A Deferred Bonus Award in relation to the 2016 annual bonus payment.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)  Nil (ii) Nil	567,864 142,574

d)

Aggregated information

-	Aggregated volume
-	Price

710,438

Nil

e)

Date of the transaction

2017-04-12

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Robin Allan

2

Reason for the notification

a)

Position/status

Director, North Sea and Exploration

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Premier Oil plc

b)

LEI

213800YPC42DYBKVPF97

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 12.5 pence each

GB00B43G0577

b)

Nature of the transaction

(i)  An award of 4.25 Equity Pool Participation Points (4.25% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and

(ii)       A Deferred Bonus Award in relation to the 2016 annual bonus payment.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)  Nil (ii) Nil	294,203 77,357

d)

Aggregated information

-	Aggregated volume
-	Price

371,560

Nil

e)

Date of the transaction

2017-04-12

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Rose

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Premier Oil plc

b)

LEI

213800YPC42DYBKVPF97

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 12.5 pence each

GB00B43G0577

b)

Nature of the transaction

(i)    An award of 4.25 Equity Pool Participation Points (4.25% of the total Equity Pool) and Performance Share Awards under the 2009 LTIP; and

(ii)   A Deferred Bonus Award in relation to the 2016 annual bonus payment.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)  Nil (ii) Nil	249,500 72,437

d)

Aggregated information

-	Aggregated volume
-	Price

321,937

Nil

e)

Date of the transaction

2017-04-12

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

END

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