Serica Energy PLC Long Term Incentive Plan Awards
24 Mai 2024 - 10:00AM
RNS Regulatory News
RNS Number : 7201P
Serica Energy PLC
24 May 2024
Serica Energy
plc
("Serica" or "the
Company")
Long Term Incentive Plan
Awards
London, 24 May 2024 - Serica
Energy plc (AIM: SQZ) announces that the Company has granted
nil-cost options over a total of 1,291,130 ordinary shares of
US$0.10 each (representing approximately 0.3% of the Company's
issued share capital) in accordance with the rules of the Serica
Energy plc 2017 Long Term Incentive Plan ("LTIP"). The total awards
above include a nil-cost option over a total of 274,574 ordinary
shares of US$0.10 each to the Company's Chief Financial Officer as
set out in the table below. The awards are subject to performance
vesting criteria that are designed to incentivise performance that
delivers value for all shareholders.
The performance vesting criteria
include sliding scale measures of share price performance (35%
weighting) and of relative total shareholder return performance
(35% weighting), in each case, in respect of a three year period
ending at the end of April 2027; together with annual emissions
intensity targets (30% weighting) in respect of 2024, 2025 and
2026. For the awards to vest in full, the 90 day end average share
price must be at least equal to 400p, the Company's relative total
shareholder return performance must be at least upper quartile
relative performance (relative to a comparator group of companies)
and an emissions intensity target (relating to CO2e per
barrel of oil equivalent from the Group's entire producing
portfolio of assets) met in respect of each of 2024, 2025 and
2026.
The awards have a normal vesting of
date of 23 May 2027 and are subject to a continued service
condition save in the case of good leavers.
Director / PDMR
|
Position
|
Number of shares awarded
|
Martin Copeland
|
Chief Financial Officer
|
274,574
|
The notifications below, made in
accordance with the requirements of the Market Abuse Regulation,
provide further detail.
NOTIFICATION AND PUBLIC DISCLOSURE
OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
|
Details of the person discharging
managerial responsibilities / person closely associated
|
a)
|
Name
|
Martin Copeland
|
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
|
Serica Energy plc
|
b)
|
LEI
|
213800EZZOKA815VC426
|
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 US$0.10 per share
par value
|
|
Identification code
|
GB00B0CY5V57
|
b)
|
Nature of the transaction
|
Award of options under the
LTIP
|
c)
|
Price(s) and volumes(s)
|
Price(s)
|
Volume(s)
|
N/A
|
274,574
|
d)
|
Aggregated information
|
N/A (single transaction)
|
|
Aggregated volume
|
|
|
Price
|
|
e)
|
Date of the transaction
|
23 May 2024
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Enquiries:
Serica Energy plc
|
+44
(0)20 7390 0230
|
David Latin (Chairman and Interim
CEO) / Martin Copeland (CFO) / Stephen Lambert (VP Legal and
External Relations)
|
|
|
|
Peel
Hunt (Nomad & Joint Broker)
|
+44
(0)20 7418 8900
|
Richard Crichton / David McKeown /
Georgia Langoulant
|
|
|
|
Jefferies (Joint Broker)
|
+44
(0)20 7029 8000
|
Sam Barnett / Will Soutar
|
|
|
|
Vigo
Consulting (PR Advisor)
|
+44
(0)20 7390 0230
|
Patrick d'Ancona / Finlay
Thomson
|
serica@vigoconsulting.com
|
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END
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