Rockhopper Exploration plc Director/PDMR Shareholding (0663K)
April 13 2015 - 10:15AM
UK Regulatory
TIDMRKH
RNS Number : 0663K
Rockhopper Exploration plc
13 April 2015
13 April 2015
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Exercise of Share Options, Allotment of Shares and Awards under
Long Term Incentive Plan
Rockhopper Exploration plc (AIM: RKH), the oil and gas
exploration and production company with interests in the North
Falkland Basin and the Greater Mediterranean region makes the
following announcements in relation to the Unapproved Employee
Share Option Scheme (the "ESOS") and the Long Term Incentive Plan
2013 (the "LTIP"):
Exercises of option and allotment of shares
The Company has been notified of the following exercises of
option on 10(th) April 2015 pursuant to the ESOS:
Name Number of shares Exercise price
subject to per share
option
---------------- ----------------- ---------------
Sam Moody (CEO) 1,500,000 42 pence
---------------- ----------------- ---------------
Pierre Jungels 1,500,000 42 pence
(Chairman)
---------------- ----------------- ---------------
The Company has also been notified of an exercise of option on
10(th) April 2015 by an ex-director in respect of 525,000 shares at
an exercise price of 42 pence per share.
All of the exercised options were due to expire in August 2015
and the optionholders have elected to exercise in one of the few
remaining open periods prior to their expiry.
Mr Moody elected to sell 1,236,472 shares and Dr Jungels elected
to sell 1,222,827 shares to discharge the cost of exercise and any
tax and national insurance obligations. On 13(th) April 2015, these
shares were purchased by the Rockhopper Employee Benefit Trust (the
"EBT"), which was established in 2013 for the purpose of holding
shares to satisfy future exercises of options and vesting of awards
under the LTIP. The 2,459,299 shares are being acquired by the EBT
by way of an off market purchase at a price of 63.25 pence being
the closing share price on the date prior to exercise. The
remaining shares have been retained by Mr Moody and Dr Jungels who
now hold:
Name Number of Number of % of issued
shares retained shares held share capital
following held
exercise
---------------- ----------------- ------------- ---------------
Sam Moody 263,528 2,013,553 0.68
---------------- ----------------- ------------- ---------------
Pierre Jungels 277,173 1,394,817 0.47
---------------- ----------------- ------------- ---------------
The EBT also purchased 434,565 shares from the ex-director at a
price of 63.25 pence per share, the proceeds of which were used to
satisfy his tax and national insurance obligations.
Application has been made for the admission of 3,525,000 new
ordinary shares of 1p each ("New Ordinary Shares") to trading on
AIM pursuant to the exercise of share options. The New Ordinary
Shares will rank pari passu in all respects with the existing
ordinary shares of the Company.
Following the issue of the New Ordinary Shares, the issued share
capital will comprise 296,451,305 ordinary shares.
The New Ordinary Shares are due to be admitted to trading on AIM
on 17 April 2015.
LTIP awards
The Company announces that on 13 April 2015 certain Directors
were granted awards in the form of options to acquire the number of
Shares in the capital of the Company under the Company's Long Term
Incentive Plan (LTIP) which has been operated annually since its
approval by shareholders at the 2013 Annual General Meeting.
Details of the awards are shown below:
Name Number of options under
award
------------------------- ------------------------
Sam Moody (CEO) 855,354
------------------------- ------------------------
Stewart MacDonald (CFO) 701,575
------------------------- ------------------------
Fiona MacAulay (COO) 750,591
------------------------- ------------------------
The awards are structured as nil-cost options and will normally
vest on 31 March 2018 subject to each director's continued
employment. The percentage of awards which will vest will be
dependent on total shareholder return measured against a peer group
of companies over a three year period ending 31 March 2018.
Performance measurement for these awards will be based on the
Company's average share price over the 90 day dealing period to 31
March 2015 measured against the 90 day dealing period to 31 March
2018. Once vested the awards will normally remain exercisable for a
period of seven years subject to the rules of the LTIP regarding
leavers.
A summary of the LTIP is included in the 2013 AGM notice which
can be found on the Company's website.
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7016 9571
Jan Davies - Company Secretary
Canaccord Genuity Limited (NOMAD and Joint Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSLLFLESFIVLIE
Rockhopper Exploration (LSE:RKH)
Historical Stock Chart
From Apr 2024 to May 2024
Rockhopper Exploration (LSE:RKH)
Historical Stock Chart
From May 2023 to May 2024