Harbour Energy PLC — Director's Dealing 2019

Mar 15, 2019

National Storage Mechanism | Additional information

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RNS Number : 0761T

Premier Oil PLC

15 March 2019

Premier Oil plc

(the 'Company' or 'Premier')

Vesting of Awards under the Company's 2009 Long Term Incentive Plan ("2009 LTIP")

Premier announces that the Remuneration Committee of the Company has approved the vesting of Equity Pool Awards and Performance Share Awards (the "Awards") granted on 1 January 2016 pursuant to the Company's 2009 LTIP.

The performance criteria for the Awards were based on the growth in the Company's market capitalization and total shareholder return relative to a comparator group of companies over the performance period. 50% of the shares vesting from the Awards are subject to a mandatory deferral period of three years and are not eligible for a Matching Share Award.

Details of these Awards and their performance conditions are set out in the Directors' Remuneration Report within the 2016 Annual Report and Financial Statements. Information on the calculation of final vesting levels for the Awards, in accordance with the performance conditions, will be set out in the Company's 2018 Annual Report and Financial Statements. 

The tax liabilities arising on the release of the first 50% of the Awards were settled by withholding a sufficient number of shares to cover these liabilities. The net number of shares were then released to participants as indicated below. The final column in this table shows the second 50% of the Awards that have been granted as Deferred Awards subject to a three-year deferral period.

	Gross number of shares released on 14 March 2019	Shares withheld to cover tax liabilities	Net number of shares released on 14 March 2019	Shares subject to a three year deferral period
Robin Allan	168,285	79,093	89,192	168,285
Tony Durrant	294,850	138,579	156,271	294,849
Richard Rose	151,499	71,204	80,295	151,499

Daniel Rose

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)   Shares withheld to cover tax liabilities following the vesting of Awards under the 2009 LTIP;

(ii)  Net shares released following the vesting of Awards under the 2009 LTIP; and

(iii) Grant of Deferred Share Awards under the 2009 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)     £0.00 (ii)    £0.00 (iii)  £0.00	138,579 156,271 294,849

d)

Aggregated information

-	Aggregated volume
-	Price

589,699

£0.00

e)

Date of the transaction

2019-03-14

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)           Shares withheld to cover tax liabilities following the vesting of Awards under the 2009 LTIP;

(ii)          Net shares released following the vesting of Awards under the 2009 LTIP; and

(iii)         Grant of Deferred Share Awards under the 2009 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)           £0.00 (ii)          £0.00 (iii)         £0.00	79,093 89,192 168,285

d)

Aggregated information

-	Aggregated volume
-	Price

336,570

£0.00

e)

Date of the transaction

2019-03-14

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)           Shares withheld to cover tax liabilities following the vesting of Awards under the 2009 LTIP;

(ii)          Net shares released following the vesting of Awards under the 2009 LTIP; and

(iii)         Grant of Deferred Share Awards under the 2009 LTIP.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
(i)     £0.00 (ii)    £0.00 (iii)   £0.00	71,204 80,295 151,499

d)

Aggregated information

-	Aggregated volume
-	Price

302,998

£0.00

e)

Date of the transaction

2019-03-14

f)

Place of the transaction

Outside a trading venue

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 or visit www.rns.com.

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