Faroe Petroleum PLC Notification of Directors' interests (8085G)
August 10 2016 - 5:35AM
UK Regulatory
TIDMFPM
RNS Number : 8085G
Faroe Petroleum PLC
10 August 2016
10 August 2016
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Notification of Directors' interests
Faroe Petroleum Incentive Plan
On 9 August 2016, the Remuneration Committee of the Company
approved an annual award under the Faroe Petroleum Incentive Plan
("FPIP") to the Executive Directors by way of grant of nil-cost
options ("Options") over ordinary shares of 10p each in the Company
("Ordinary Shares") as detailed below:
FPIP Annual Awards
Director Role Number of Ordinary
Shares
subject to the Option
================= ================= =======================
Graham Stewart Chief Executive 1,395,287
================= ================= =======================
Chief Operating
Helge Hammer Officer 831,235
================= ================= =======================
Chief Financial
Jonathan Cooper Officer 753,752
================= ================= =======================
The actual number of Options which the recipients could receive
under the FPIP ranges from zero to 100% subject to the achievement
of certain performance targets. For the purposes of disclosure and
maintenance of certain statutory records, the number of Options is
taken to be 100% of the number of Options awarded, as detailed
above.
Performance will be measured at the end of a three year
performance period against two equally weighted performance
conditions, namely one half absolute Total Shareholder Return
("TSR"), and one half relative TSR. Awards granted to the
recipients will be required to be held for an additional two year
holding period after the three year performance period before they
vest.
Total Holdings
Following these transactions the Executive Directors hold the
following Ordinary Shares together with options over the same
(including Matching Shares) exercisable at various prices up to
127.5 pence, as follows:
Director No of Ordinary No. of options over
Shares ordinary shares
of 10p each of 10p each
==================== =============== ====================
Graham Stewart* 1,025,278 6,624,015
==================== =============== ====================
Helge Hammer** 544,481 3,762,048
==================== =============== ====================
Jonathan Cooper*** 200,957 2,965,225
==================== =============== ====================
*On 24 July 2016 304,400 FPIP Nil-Cost options and 51,223 Faroe
Petroleum Co-Investment Plan Matching shares lapsed
** On 24 July 2016 188,561 FPIP Nil-Cost options and 52,208
Faroe Petroleum Co-Investment Plan Matching shares lapsed
*** On 24 July 2016 123,475 FPIP Nil-Cost options and 51,223
Faroe Petroleum Co-Investment Plan Matching shares lapsed
For further information please contact:
Faroe Petroleum plc Tel: +44 1224 650 920
Graham Stewart, CEO
Stifel Nicolaus Europe Tel: +44 20 7710 7600
Limited
Callum Stewart/Ashton
Clanfield
RBC Capital Markets Tel: +44 20 7653 4000
Matthew Coakes/ Daniel
Conti/Roland Symonds
FTI Consulting Tel: +44 20 7831 3113
Edward Westropp/Tom Hufton
The notification set out below is provided in accordance with
the requirements of the EU Market Abuse Regulation.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Graham Stewart
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Executive
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil-cost 1,395,287
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 1,395,287
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Helge Hammer
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Operating
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil-cost 831,235
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 831,235
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
1 Details of PDMR/person closely associated
with them ('PCA')
--- -----------------------------------------------------
a) Name Jonathan Cooper
--- ------------------ ---------------------------------
2 Reason for the notification
--- -----------------------------------------------------
a) Position/status Director and Chief Financial
Officer
--- -------------------- -------------------------------
b) Initial Initial notification
notification
/Amendment
--- -------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- -----------------------------------------------------
a) Name Faroe Petroleum plc
--- -------------------- -------------------------------
b) LEI 213800RE18GVZGNYB270
--- -------------------- -------------------------------
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 Nil-cost options over ordinary
of the financial shares
instrument,
type of
instrument
Identification GB0033032904
code
--- -------------------- -------------------------------
b) Nature of Award of stock options
the transaction
--- -------------------- -------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil-cost 753,752
---------- ----------
--- -------------------- -------------------------------
d) Aggregated
information
- Aggregated 753,752
volume
- Price Nil-cost
--- -------------------- -------------------------------
e) Date of 9 August 2016
the transaction
--- -------------------- -------------------------------
f) Place of XLON
the transaction
--- -------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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