RNS Number : 6858D
Gulf Keystone Petroleum Ltd.
01 February 2018
 

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction.  This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

 

 

1 February 2018

 

Gulf Keystone Petroleum Limited (LSE: GKP)

("Gulf Keystone" or "the Company")

 

2014 Long Term Incentive Plan ("LTIP") Award

 

Gulf Keystone Petroleum Limited announces that pursuant to the 2014 Gulf Keystone Petroleum Long Term Incentive Plan, on 1 February 2018 awards over Common Shares ("Awards") were granted to staff and the persons discharging managerial responsibilities ("PDMRs") listed below.

 

The LTIP was approved by Gulf Keystone Petroleum Ltd shareholders at the Company's Annual General Meeting held on 17 July 2014; this is the first award made under the LTIP.

 

The Awards were made based on a price of 120.6p being the closing mid-market price of the Company on 31st January 2018.  The vesting date for Awards is 1st February 2021, being the third anniversary from the award date.  The Awards are in the form of nil cost options and vesting of them will be in accordance with performance conditions.   No consideration is payable for the grant of an Award. 

 

Performance Conditions

 

Vesting of the Awards is subject to both absolute and relative total shareholder return ("TSR") targets being met, each measure having a 50% weighting.   TSR will be measured over the period of three years from the award date.

 

Awards

 

The following PDMRs have been granted awards under the LTIP:

 

Name

Position

Number of awards

Stuart Catterall

Chief Operations Officer

207,297

Gabriel Papineau-Legris

Commercial Director

114,925

Alasdair Robinson

Legal Director & Company Secretary

 

119,403

Jane Barker

HR Director

71,642

Nadzeya Kernoha

Financial Controller

92,869

 

In addition to the above, Awards over a total of 1,180,108 shares in aggregate have also been granted under the LTIP to eligible employees who are not PDMRs.

 

Enquiries:

 

Gulf Keystone Petroleum:

+44 (0) 20 7514 1400

Jón Ferrier, CEO

 

Sami Zouari, CFO

 

 

 

 

 

Celicourt Communications:

+44(0) 20 7520 9266

Mark Antelme

Jimmy Lea

 

 

 

or visit: www.gulfkeystone.com 

 

 

 

 

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.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Gabriel Papineau-Legris

2

Reason for the notification

a)

Position/status

Commercial Director

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 instrument

 Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited

 

ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the 2014 Long Term Incentive Plan

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

nil

 114,925

d)

Aggregated information

-

Aggregated volume

-

Price

 

Single transaction as in 4 c) above. 


Nil consideration

e)

Date of the transaction

1 February 2018

f)

Place of the transaction

Outside a trading venue

 



 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Stuart Catterall

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

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 instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited

 

 

ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the 2014 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

 207,297

d)

Aggregated information

-

Aggregated volume

-

Price

 

Single transaction as in 4 c) above. 


Nil consideration

e)

Date of the transaction

1 February 2018

f)

Place of the transaction

Outside a trading venue

 



 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nadzeya Kernoha

2

Reason for the notification

a)

Position/status

Financial Controller

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 instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited

 

ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the 2014 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

 92,869

d)

Aggregated information

-

Aggregated volume

-

Price

 

Single transaction as in 4 c) above. 


Nil consideration

e)

Date of the transaction

1 February 2018

f)

Place of the transaction

Outside a trading venue

 



 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Alasdair Robinson

2

Reason for the notification

a)

Position/status

Legal Director & Company Secretary

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 instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited

 

ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the 2014 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

 119,403

d)

Aggregated information

-

Aggregated volume

-

Price

 

Single transaction as in 4 c) above. 


Nil consideration

e)

Date of the transaction

1 February 2018

f)

Place of the transaction

Outside a trading venue

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Jane Barker

2

Reason for the notification

a)

Position/status

Human Resources Director

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 instrument

 

Identification code

Common shares of $1.00 each in Gulf Keystone Petroleum Limited

 

ISIN: BMG4209G2077

b)

Nature of the transaction

Grant of nil cost award under the 2014 Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil


71,642

d)

Aggregated information

-

Aggregated volume

-

Price

 

Single transaction as in 4 c) above. 


Nil consideration

e)

Date of the transaction

1 February 2018

f)

Place of the transaction

Outside a trading venue

 



 

  

Notes to Editors:

 

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq and the operator of the Shaikan field with current production capacity of 35,000 barrels of oil per day

Further information on Gulf Keystone is available on its website www.gulfkeystone.com

 

 

Disclaimer

 

This announcement contains certain forward-looking statements.  These statements are made by the Company's Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information.  This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed.  This announcement should not be relied on by any other party or for any other purpose.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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