NOTIFICATION OF TRANSACTIONS
OF PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES
Seplat Energy PLC ("Seplat"
or "Company")
Share Awards granted under
the Seplat Energy PLC 2024 Long Term Incentive Plan
("LTIP")
Lagos and London - 30th May 2024:
The following awards ("LTIP Awards") over ordinary
shares of Seplat were granted under the LTIP to Executive Directors
of the Company on 28 May 2024
(the "Award Date") as set out below using the
average share price over the 5-day period prior to the date of
grant. For the avoidance of doubt, the LTIP awards are
granted in respect of the 2024 financial year.
Vesting of the LTIP Awards is
dependent on the achievement of stretching relative and absolute
Total Shareholder Return ("TSR") performance targets, an overall
assessment of corporate performance through an underpin and
continued employment over a three-year performance period which
began on 1 January 2024. The LTIP Awards will be subject to a
two-year post vesting holding period. Full details of the
vesting conditions of these LTIP Awards will be set out in the
Company's 2024 Annual Report.
|
Name
|
Position
|
Total Number of Shares over
which the award is granted*
|
|
Roger Brown
|
Chief Executive Officer
|
1,567,196
|
|
Samson Ezugworie
|
Chief Operations Officer
|
908,876
|
|
Eleanor Adaralegbe
|
Chief Financial Officer
|
663,178
|
*In line with the 2024 Directors'
Remuneration Policy, the number of shares awarded was calculated by
dividing the monetary value of the salary multiple relevant for
each Executive Director by the grant price, which equals the
five-day average share price prior to the date on which the LTIP
Awards were granted (£1.660)
The Remuneration Committee retains
discretion to make adjustments to the LTIP Awards vesting level and
amounts payable resulting from the application of the performance
measures if it considers that the outcomes are not a fair and
accurate reflection of corporate performance.
On 28 May 2024 (the Award date), the
Company also granted the following awards ("Deferred Share Awards")
in respect of the 2023 Annual Performance Bonus over Shares under
the LTIP to Executive Directors of the Company as set out below.
Under the Directors' Remuneration Policy approved by
shareholders at Seplat's 11th Annual General Meeting,
25% of the executive directors' annual performance bonus relating
to the 2023 financial year is deferred into an award over shares
and the shares will normally vest and be released on 31 December
2025 (two years following the end of the performance year in
respect of which the Deferred Share Award is granted) subject to
continued employment in line with the LTIP rules.
|
Name
|
Position
|
Total Number of Shares over
which the award is granted**
|
|
Roger Brown
|
Chief Executive Officer
|
253,543
|
|
Samson Ezugworie
|
Chief Operations Officer
|
102,384
|
**The number of Shares awarded was
calculated by reference to Seplat's closing share price on 29
December 2023 of £1.24 in line with the approved remuneration
policy.
No consideration was paid for the
above Awards and no consideration is due on the vesting of the
Awards.
The information set out below is
provided in accordance with the requirements of Article 19(3) of
the EU Market Abuse Regulation No 596/2014.
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
FOR: SEPLAT ENERGY PLC
Details of duly authorised officer of issuer responsible for
making notification:
Edith Onwuchekwa, Director,
Legal/Company Secretary +234 (0) 1 277 0400
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Roger Brown
|
|
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
|
Seplat Energy PLC
|
|
b)
|
LEI
|
029200711C4S4CB2E982
|
|
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
Identification code
|
Ordinary shares of Seplat Energy
PLC
NGSEPLAT0008
|
|
b)
|
Nature of the transaction
|
Grant of:
(a) 2024 LTIP Award;
(b) Deferred Share Award in respect
of 2023 Annual Bonus
all under Seplat Energy PLC 2024
Long Term Incentive Plan.
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
Transaction(s)
|
|
(a)
|
Nil
|
1,567,196
|
2024
LTIP
|
|
(b)
|
Nil
|
253,543
|
2023 DB
Shares
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
1,820,739 ordinary shares
Nil consideration
|
|
e)
|
Date of the transaction
|
28 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Samson Ezugworie
|
|
2
|
Reason for the notification
|
|
a)
|
Position / status
|
Chief Operations Officer
|
|
b)
|
Initial notification /
Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Seplat Energy PLC
|
|
b)
|
LEI
|
029200711C4S4CB2E982
|
|
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
Identification code
|
Ordinary shares of Seplat Energy
PLC
NGSEPLAT0008
|
|
b)
|
Nature of the transaction
|
Grant of:
(a) 2024 LTIP Award;
(b) Deferred Share Award in respect
of 2023 Annual Bonus
all under Seplat Energy PLC 2024
Long Term Incentive Plan.
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
Transaction(s)
|
|
(a)
|
Nil
|
908,876
|
2024
LTIP
|
|
(b)
|
Nil
|
102,384
|
2023 DB
Shares
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
1,011,260 ordinary shares
Nil consideration
|
|
e)
|
Date of the transaction
|
28 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Eleanor Adaralegbe
|
|
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
|
Seplat Energy PLC
|
|
b)
|
LEI
|
029200711C4S4CB2E982
|
|
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
Identification code
|
Ordinary shares of Seplat Energy
PLC
NGSEPLAT0008
|
|
b)
|
Nature of the transaction
|
Grant of 2024 LTIP Award under Seplat Energy PLC
2024 Long Term Incentive Plan.
|
|
c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
(a)
|
Nil
|
663,178
|
|
(b)
|
|
|
|
|
d)
|
Aggregated information
|
-
|
Aggregated volume
|
|
-
|
Price
|
|
663,178 ordinary shares
Nil consideration
|
|
e)
|
Date of the transaction
|
28 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Enquiries:
|
Seplat Energy PLC
|
|
Eleanor Adaralegbe - Chief Financial
Officer
Edith Onwuchekwa - Company
Secretary
Chioma Afe - External
Affairs
James Thompson - Investor
Relations
Nwamaka Iloh - Company
Secretariat
|
+234 1 277 0400 Ext 1110
+234 1 277 0444 Ext 1108
|
|
FTI
Consulting
|
|
Ben Brewerton / Chris
Laing
|
+44 (0) 203 727 1000
seplat@fticonsulting.com
|