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Genel Energy PLC (GENL)
Genel Energy PLC: Director/PDMR Shareholding
06-Apr-2023 / 14:00 GMT/BST
6 April 2023
Genel Energy plc (the ‘Company’)
2023 Awards - Notification of Transactions by
Persons Discharging Managerial Responsibilities (‘PDMRs’)
Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the 2021 Performance Share Plan (‘PSP’) and Deferred Bonus Plan (‘DBP’) on 6 April 2023 to the PDMRs set out below.
PSP awards
PSP awards granted were made in the form of nil-cost options.
Following vesting, shares granted under the PSP are subject to the Company’s retention policy under which Executive Committee members are required to retain shares for an additional two years.
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Name
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No. of shares subject to PSP Award
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Total number of shares over which options/awards are held following notification
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Paul Weir
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652,155
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1,134,068
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Mike Adams
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279,556
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726,082
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Luke Clements
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267,227
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547,819
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DBP award
In addition, Paul Weir deferred a proportion of his CEO 2022 cash bonus into Company shares under the DBP. The DBP award was made in the form of nil-cost options that become exercisable after two years. Options are then exercisable until the tenth anniversary of the grant date.
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Name
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No. of shares subject to Deferred Bonus Share Award
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Total number of shares over which options/awards are held following notification
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Paul Weir
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33,368
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1,134,068
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Paul Weir
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2
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Reason for Notification
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a)
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Position/status
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CEO
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b)
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Initial notification / Amendment
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Initial notification
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3
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Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Genel Energy plc
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b)
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LEI
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549300IVCJDWC3LR8F94
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4
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Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Ordinary shares of 10 pence each
JE00B55Q3P39
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b)
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Nature of the transaction
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- Grant of nil-cost options under the Company’s Performance Share Plan
- Grant of nil-cost options under the Company’s Deferred Bonus Plan
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c)
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Price(s) and volumes(s)
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- Nil cost
652,155
- Nil cost
33,368
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d)
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Aggregated information
-Aggregated volume
-Price
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685,523
Nil
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e)
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Date of the transaction
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6 April 2023
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f)
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Place of the transaction
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Outside a trading venue
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Luke Clements
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2
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Reason for Notification
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a)
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Position/status
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CFO
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b)
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Initial notification / Amendment
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Initial notification
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3
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Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Genel Energy plc
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b)
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LEI
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549300IVCJDWC3LR8F94
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4
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Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Ordinary shares of 10 pence each
JE00B55Q3P39
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b)
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Nature of the transaction
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Grant of nil-cost options under the Company’s Performance Share Plan
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c)
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Price(s) and volumes(s)
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Nil cost
267,227 shares
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d)
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Aggregated information
-Aggregated volume
-Price
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267,227
Nil
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e)
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Date of the transaction
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6 April 2023
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f)
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Place of the transaction
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Outside a trading venue
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Michael Adams
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2
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Reason for Notification
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a)
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Position/status
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Technical Director
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b)
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Initial notification / Amendment
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Initial notification
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3
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Details of the issuers, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Genel Energy plc
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b)
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LEI
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549300IVCJDWC3LR8F94
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4
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Details of the transaction(s): section to be replaced for (i) each type of instrument; (ii) each type of transaction; (iii) each date (iv) each place where transaction have been conducted
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a)
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Description of the financial instrument, type of instrument
Identification code
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Ordinary shares of 10 pence each
JE00B55Q3P39
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b)
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Nature of the transaction
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Grant of nil-cost options under the Company’s Performance Share Plan
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c)
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Price(s) and volumes(s)
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Nil cost
279,556 shares
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d)
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Aggregated information
-Aggregated volume
-Price
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279,556
Nil
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e)
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Date of the transaction
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6 April 2023
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f)
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Place of the transaction
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Outside a trading venue
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-ends-
For further information please contact:
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Genel Energy
Andrew Benbow, Head of Communications
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+44 20 7659 5100
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Vigo Consulting
Patrick d’Ancona
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+44 20 7390 0230
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Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Kurdistan Region of Iraq, and a committed dividend programme that is material and sustainable. Genel continues to seek opportunities to add new resilient and cash-generative assets to its portfolio, with the goal of progressing its dividend in the long-term. For further information, please refer to www.genelenergy.com
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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