Premier Oil PLC Director/PDMR Shareholding (2564C)
October 15 2020 - 12:30PM
UK Regulatory
TIDMPMO
RNS Number : 2564C
Premier Oil PLC
15 October 2020
Premier Oil plc
(the 'Company' or 'Premier')
Vesting of Awards under the Company's
2017 Long Term Incentive Plan ("2017 LTIP")
As set out in the Company's Annual Report for the year ended 31
December 2019, in March 2020 the Remuneration Committee approved
the vesting of Performance Share Awards and Restricted Share Awards
granted in 2017 under the 2017 LTIP (the "Awards"). The Awards were
in respect of a performance period that ran from 1 January 2017 to
31 December 2019, further details of which are set out in the
Directors' Remuneration Report for 2019.
The normal vesting date of the Awards was 1 September 2020;
however, the Remuneration Committee resolved at that time that the
vesting should be delayed in view of the ongoing negotiations with
the Company's creditors regarding a long term refinancing and
subsequent discussions with Chrysaor. Following the announcement on
6 October 2020 regarding the proposed merger with Chrysaor, the
Remuneration Committee has resolved that the Awards can now vest as
set out in the table below.
All of the net shares from the Awards vesting to the Directors
are subject to a two-year holding period in accordance with the
Directors' Remuneration Policy.
Gross number Gross number Shares withheld Net shares
of Performance of Restricted to cover tax released subject
Share Awards Share Awards liabilities to a two-year
vesting vesting holding period
Tony Durrant 343,986 68,969 194,090 218,865
---------------- --------------- ---------------- ------------------
Richard Rose 213,857 42,878 120,666 136,069
---------------- --------------- ---------------- ------------------
Rachel Rickard
Premier Oil plc
+44 (0)20 7824 1067
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 Ordinary shares of 12.5 pence each
instrument
Identification code GB00B43G0577
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction (i) Shares withheld to cover tax liabilities following
the vesting of Awards under the 2017
LTIP;
(ii) Net shares released following the vesting of
Awards under the 2017 LTIP; and
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 194,090
(ii) GBP0.00 218,865
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 412,955
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-13
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 12.5 pence each
instrument
Identification code
GB00B43G0577
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction (i) Shares withheld to cover tax liabilities
following the vesting of Awards under the 2017
LTIP;
(ii) Net shares released following the vesting of
Awards under the 2017 LTIP; and
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 120,666
(ii) GBP0.00 136,069
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 256,735
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-10-13
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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END
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