Premier Oil PLC Director/PDMR Shareholding (0761T)
March 15 2019 - 12:30PM
UK Regulatory
TIDMPMO
RNS Number : 0761T
Premier Oil PLC
15 March 2019
Premier Oil plc
(the 'Company' or 'Premier')
Vesting of Awards under the Company's 2009 Long Term Incentive
Plan ("2009 LTIP")
Premier announces that the Remuneration Committee of the Company
has approved the vesting of Equity Pool Awards and Performance
Share Awards (the "Awards") granted on 1 January 2016 pursuant to
the Company's 2009 LTIP.
The performance criteria for the Awards were based on the growth
in the Company's market capitalization and total shareholder return
relative to a comparator group of companies over the performance
period. 50% of the shares vesting from the Awards are subject to a
mandatory deferral period of three years and are not eligible for a
Matching Share Award.
Details of these Awards and their performance conditions are set
out in the Directors' Remuneration Report within the 2016 Annual
Report and Financial Statements. Information on the calculation of
final vesting levels for the Awards, in accordance with the
performance conditions, will be set out in the Company's 2018
Annual Report and Financial Statements.
The tax liabilities arising on the release of the first 50% of
the Awards were settled by withholding a sufficient number of
shares to cover these liabilities. The net number of shares were
then released to participants as indicated below. The final column
in this table shows the second 50% of the Awards that have been
granted as Deferred Awards subject to a three-year deferral
period.
Gross number Shares withheld Net number Shares subject
of shares released to cover tax of shares released to a three
on 14 March liabilities on 14 March year deferral
2019 2019 period
Robin Allan 168,285 79,093 89,192 168,285
-------------------- ---------------- -------------------- ---------------
Tony Durrant 294,850 138,579 156,271 294,849
-------------------- ---------------- -------------------- ---------------
Richard Rose 151,499 71,204 80,295 151,499
-------------------- ---------------- -------------------- ---------------
Daniel Rose
Premier Oil plc
+44 (0)20 7730 1111
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 2009
LTIP;
(ii) Net shares released following the vesting of
Awards under the 2009 LTIP; and
(iii) Grant of Deferred Share Awards under the 2009
LTIP.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 138,579
(ii) GBP0.00 156,271
(iii) GBP0.00 294,849
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 589,699
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Robin Allan
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status Director, North Sea and Exploration
-------------------------------------------------------- -------------------------------------------------------
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 2009
LTIP;
(ii) Net shares released following the vesting of
Awards under the 2009 LTIP; and
(iii) Grant of Deferred Share Awards under the
2009 LTIP.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 79,093
(ii) GBP0.00 89,192
(iii) GBP0.00 168,285
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 336,570
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
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 2009
LTIP;
(ii) Net shares released following the vesting of
Awards under the 2009 LTIP; and
(iii) Grant of Deferred Share Awards under the
2009 LTIP.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.00 71,204
(ii) GBP0.00 80,295
(iii) GBP0.00 151,499
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume 302,998
- Price GBP0.00
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2019-03-14
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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