Gulf Keystone Petroleum Ltd. 2016 Value Creation Plan (7556X)
01 Mai 2019 - 12:33PM
UK Regulatory
TIDMGKP
RNS Number : 7556X
Gulf Keystone Petroleum Ltd.
01 May 2019
1 May 2019
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 30 April 2019 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*
Jón Ferrier Chief Executive Officer 2,087,756
------------------------- -----------------------
Sami Zouari Chief Financial Officer 1,565,817
------------------------- -----------------------
*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 2018 of $3.315 (GBP2.563).
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.
Under the VCP rules, the aggregate value of nil cost options
granted at all Measurement Dates is subject to an overall cap. This
cap has been attained and so no further awards of nil cost options
will be made under the VCP henceforth. Furthermore, Mr. Ferrier and
Mr. Zouari will not be eligible for any awards under the Company's
Long Term Incentive Plan until after the Measurement Date for the
financial year ending on 31 December 2021.
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 2,087,756
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 2,087,756
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 April 2019
-------------------------------------------------------- -------------------------------------------------------
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 1,565,817
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information- Aggregated volume
- Price 1,565,817
Nil consideration
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 April 2019
-------------------------------------------------------- -------------------------------------------------------
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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