Gulf Keystone Petroleum Ltd. 2016 Value Creation Plan (1520O)
May 15 2018 - 6:33AM
UK Regulatory
TIDMGKP
RNS Number : 1520O
Gulf Keystone Petroleum Ltd.
15 May 2018
Gulf Keystone Petroleum Limited (LSE: GKP)
("Gulf Keystone" or the "Company")
2016 Value Creation Plan
Notification of Transactions of Directors/Persons Discharging
Managerial Responsibility and Connected Persons in accordance with
MAR 19(3).
The Company announces that on 14 May 2018 the following Nil Cost
Options to acquire common shares of $1.00 each ("Shares") under the
Gulf Keystone Petroleum Limited 2016 Value Creation Plan (the
"VCP") have been granted to the following persons discharging
managerial responsibilities ("PDMRs"). This grant is pursuant to
and in accordance with the terms and conditions of the Conditional
Awards made to them under the VCP on 12 December 2016:-
PDMR Position Number of Shares
over which Nil
Cost Option was
granted*
------------------ ----------------- -----------------
Chief Executive
Jón Ferrier Officer 1,681,839
------------------ ----------------- -----------------
Chief Financial
Sami Zouari Officer 1,681,839
------------------ ----------------- -----------------
*The number of Shares over which the Nil Cost Option was granted
has been calculated by reference to the 30-day average share price
following the announcement of the Company's results for the
financial year ending on 31 December 2017 of $2.346(GBP1.693)
(rounded to three decimal places).
The Nil Cost Option is subject to the rules of the VCP and will
normally vest depending on performance against Total Shareholder
Return targets. As defined under the rules of the VCP, up to 50% of
the number of Shares granted under the Nil Cost Option will
normally vest following the Measurement Date for the financial year
ending on 31 December 2019, 50% of the remainder of the number of
Shares granted under the Nil Cost Option will normally vest
following the Measurement Date for the financial year ending on 31
December 2020 with up to the remainder of the number of Shares
granted under the Nil Cost Option vesting following the Measurement
Date for the financial year ending on 31 December 2021.
The last date for exercise shall normally be the tenth
anniversary of the Conditional Award date (12 December 2016). No
dividend or dividend equivalents are payable in respect of the Nil
Cost Option in accordance with the rules of the VCP.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the Market Abuse Regulation:
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Jón Ferrier
--- -------------------------------------------------------- -------------------------------------------------------
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 Gulf Keystone Petroleum Limited
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
--- -------------------------------------------------------- -------------------------------------------------------
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 Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone
Petroleum Limited 2016 Value Creation Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 1,681,839
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,681,839
Nil
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 14 May 2018
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- -------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Sami Zouari
--- -------------------------------------------------------- -------------------------------------------------------
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 Gulf Keystone Petroleum Limited
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800QTAQOSSTNTPO15
--- -------------------------------------------------------- -------------------------------------------------------
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 Common shares of $1.00 each in Gulf Keystone Petroleum
instrument Limited
Identification code ISIN: BMG4209G2077
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of nil cost award under the Gulf Keystone
Petroleum Limited 2016 Value Creation Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 1,681,839
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,681,839
Nil consideration
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 14 May 2018
--- -------------------------------------------------------- -------------------------------------------------------
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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