-
28 May 2025 23:11:50
- Source: Sharecast
28 May 2025
Serica Energy plc
("Serica" or "the Company")
Long Term Incentive Plan Awards
London, 28 May 2025 - Serica Energy plc (AIM: SQZ) announces that the Company has granted nil-cost options over a total of 1,703,189 ordinary shares of US$0.10 each (representing approximately 0.43% of the Company's issued share capital) in accordance with the rules of the Serica Energy plc 2017 Long Term Incentive Plan ("LTIP"). The award has been made to members of the Group's executive team and senior management.
These awards include a total of 972,315 ordinary shares of US$0.10 each for the executive directors as set out in the table below and are subject to vesting criteria that are designed to incentivise performance that delivers value for all shareholders.
The vesting criteria are based on two performance conditions a) up to a maximum of 70% of the total number of shares held under an award vest and become exercisable subject to achievement of relative TSR performance targets, measured at the end of a three-year performance period commencing on 1 May 2025; and b) up to a maximum of 30% of the total number of shares held under an award vest and become exercisable, subject to the achievement of Bruce gross emissions reduction related targets set for the last calendar year comprised within a three-year performance period commencing on 1 January 2025.
|
Director / PDMR |
Position |
Number of shares awarded |
|
Christopher Cox |
Chief Executive Officer |
624,161 |
|
Martin Copeland |
Chief Financial Officer |
348,154 |
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Christopher Cox |
|
|
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 |
Serica Energy plc |
|
|
b) |
LEI |
213800EZZOKA815VC426 |
|
|
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 |
Ordinary shares of US$0.10 per share par value |
|
|
|
Identification code |
GB00B0CY5V57 |
|
|
b) |
Nature of the transaction |
Award of options under the LTIP |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
N/A |
624,161 |
||
|
d) |
Aggregated information |
N/A (single transaction) |
|
|
|
Aggregated volume |
624,161 |
|
|
|
Price |
Nil |
|
|
e) |
Date of the transaction |
28 May 2025 |
|
|
f) |
Place of the transaction |
Outside of Trading Venue |
|
|
Details of the person discharging managerial responsibilities / person closely associated |
||
|
Name |
Martin Copeland |
|
|
Reason for the notification |
||
|
Position/status |
Chief Financial Officer |
|
|
Initial notification/Amendment |
Initial Notification |
|
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
Name |
Serica Energy plc |
|
|
LEI |
213800EZZOKA815VC426 |
|
|
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 |
||
|
Description of the financial instrument, type of instrument |
Ordinary shares of US$0.10 per share par value |
|
|
Identification code |
GB00B0CY5V57 |
|
|
Nature of the transaction |
Award of options under the LTIP |
|
|
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
N/A |
348,154 |
|
|
Aggregated information |
N/A (single transaction) |
|
|
Aggregated volume |
348,154 |
|
|
Price |
Nil |
|
|
Date of the transaction |
28 May 2025 |
|
|
Place of the transaction |
Outside of Trading Venue |
|
Enquiries:
|
Serica Energy plc Chris Cox (CEO)/Martin Copeland (CFO) Andrew Benbow (Group Investor Relations Manager) |
+44 (0)20 7390 0230 |
|
|
|
|
Peel Hunt (Nomad & Joint Broker) |
+44 (0)20 7418 8900 |
|
Richard Crichton / David McKeown/Emily Bhasin |
|
|
|
|
|
Jefferies (Joint Broker) |
+44 (0)20 7029 8000 |
|
Sam Barnett |
|
|
|
|
|
Vigo Consulting (PR Advisor) |
+44 (0)20 7390 0230 |
|
Patrick d'Ancona / Finlay Thomson |
serica@vigoconsulting.com |
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