19 June 2017
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Director Share Purchases and Awards and Relinquishment under Long Term Incentive Plan
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region, makes the following announcements in relation to Director dealings and the Long Term Incentive Plan 2013 (the "LTIP"):
Director Dealings
The Company announces that on 16 June 2017 a total of 1,229,197 ordinary shares of £0.01 each in the Company ("Shares") were purchased by certain Directors as follows:
Director |
Price (pence) |
Number of shares purchased |
Total number of shares held following purchases |
% of issued share capital following purchases |
Sam Moody (CEO) |
£0.2048 |
246,898 |
2,319,211 |
0.51 |
David McManus (Chairman) |
£0.2048 |
366,149 |
498,952 |
0.11 |
Stewart MacDonald (CFO) |
£0.2048 |
122,050 |
240,881 |
0.05 |
John Martin (Non-Executive Director) |
£0.20125 |
250,000 |
341,600 |
0.07 |
John Summers (Non-Executive Director) |
£0.2048 |
244,100 |
244,100 |
0.05 |
Set out below is the information required by Article 19(3) of the EU Market Abuse Regulation No 596/2014 in relation to the acquisition of Shares by certain Directors in their capacity as persons discharging managerial responsibilities (PDMRs):
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Samuel Moody |
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 |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Acquisition of Shares |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: £0.2048 Volume: 246,898 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 246,898 Price: £50,564.71 |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
London Stock Exchange (XLON) |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
David McManus |
2 |
Reason for the notification |
a) |
Position/status |
Chairman |
b) |
Initial notification/Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Acquisition of Shares |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: £0.2048 Volume: 366,149 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 366,149 Price: £74,987.32 |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
London Stock Exchange (XLON) |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Stewart MacDonald |
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 |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Acquisition of Shares |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: £0.2048 Volume: 122,050 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 122,050 Price: £24,995.84 |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
London Stock Exchange (XLON) |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
John Martin |
2 |
Reason for the notification |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification/Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Acquisition of Shares |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: £0.20125 Volume: 250,000 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 250,000 Price: £50,312.50 |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
London Stock Exchange (XLON) |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
John Summers |
2 |
Reason for the notification |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification/Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Acquisition of Shares |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: £0.2048 Volume: 244,100 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 244,100 Price: £49,991.68 |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
London Stock Exchange (XLON) |
LTIP Awards
The Company announces that on 16 June 2017 certain Directors were granted awards in the form of options to acquire Shares under the Company's LTIP which has been operated annually since its approval by shareholders at the 2013 Annual General Meeting.
Details of the awards are shown below:
Name |
Number of options under award |
Sam Moody (CEO) |
1,900,000 |
Stewart MacDonald (CFO) |
1,800,000 |
The awards are structured as nil-cost options and, subject to meeting specific performance criteria as outlined below, will normally vest three years after the date of grant.
The percentage of awards which will vest will be dependent on total shareholder return measured against a peer group of companies over a three year period ending 31 May 2020. Performance measurement for these awards will be based on the Company's average share price over the 90 day dealing period to 31 May 2017 measured against the average share price for the 90 day dealing period to 31 May 2020. No awards will vest in the event that the Company's total shareholder return is below the median of its peer group over the three year measurement period. In the event that the awards vest, the vested awards will normally remain exercisable for a period of seven years subject to the rules of the LTIP regarding leavers.
Set out below is the information required by Article 19(3) of the EU Market Abuse Regulation No 596/2014 in relation to the award of options over Shares to certain Directors under the Company's LTIP:
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Samuel Moody |
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 |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Award of options over Ordinary Shares of 1 pence each |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: Nil Volume: 1,900,000 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 1,900,000 Price: Nil |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Stewart MacDonald |
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 |
Rockhopper Exploration plc |
b) |
LEI |
213800IPXW6XRLVCL581 |
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 |
Ordinary Shares of 1 pence each GB00BOFVQX23 |
b) |
Nature of the transaction |
Award of options over Ordinary Shares of 1 pence each |
c) |
Price(s) and volume(s) |
Date of transaction: 16 June 2017 Price: Nil Volume: 1,800,000 |
d) |
Aggregated information |
Date of transaction: 16 June 2017 Aggregated volume: 1,800,000 Price: Nil |
e) |
Date of the transaction |
16 June 2017 |
f) |
Place of the transaction |
Outside a trading venue |
Relinquishment of LTIP Awards
The Company announces that on 15 June 2017 Fiona MacAulay, COO, relinquished a total of 3,559,191 unvested LTIP awards.
A summary of the LTIP is included in the 2013 AGM notice which can be found on the Company's website and in the 2016 Annual Report.
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7830 9700
Sam Moody - Chief Executive
Stewart MacDonald - Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
James Asensio
Vigo Communications
Tel: 020 7830 9700
Patrick d'Ancona
Ben Simons
