Notification of Transactions by Persons Discharging Management
Responsibility (‘PDMRs').
Director/PDMR Shareholding
EnQuest PLC (the “Company”)
20 April 2011
Pursuant to the Company's obligations under Disclosure and Transparency
Rule 3.1.4, the Company hereby notifies that the Company's Remuneration
Committee granted the following awards to Directors and PDMRs of
Ordinary Shares of £0.05 each in the Company (the “Shares”) under the
EnQuest Performance Share Plan ("PSP") and the EnQuest Deferred Bonus
Share Plan ("DBSP") on 19 April 2011.
Awards granted to Directors and PDMRs on 19 April 2011 under the PSP and
DBSP were as follows:-
Director/PDMR PSP Award 19 April 2011 Total number of shares held
under the PSP following the Award DBSP Award 19 April 2011 Total
number of shares held under the DBSP following the Award
Amjad Bseisu 583,090 0
0 0
Nigel Hares 443,148 0
0 0
Jonathan Swinney 324,975 0
0 0
Paul Lindop 23,000 0
0 75,594
Craig Matthew 21,000 0
40,022 40,022
On 19 April 2011, the PSP Awards granted to Directors and PDMRs were
made in the form of nil-cost options (as permitted under the rules of
the PSP) and will vest 100% on the third anniversary of the date of
grant (19 April 2014), subject to the achievement of performance targets
and continued employment with the EnQuest Group, each being exercisable
up to the tenth anniversary of the date of grant.
In addition, Company employees (below Executive Director level) were
invited under the rules of the DBSP to invest 25% of gross 2010
performance pay in the DBSP. On 19 April 2011, Matching Awards were
granted over an equal number of shares that were acquired by the DBSP
participants. Shares awarded under the DBSP vest on the first, second
and third anniversaries of the date of grant in tranches of 1/3rd
respectively, subject to each of their continuing employment with the
EnQuest group. If participants and their connected persons hold Shares
outside the PSP andDBSP (or any other Company share incentive scheme),
separate announcements are made under the Disclosure and Transparency
Rules as required.
Contact for enquiries:
EnQuest PLC
Paul Waters
Company Secretary
020 7925 4900
Notification of Transactions by Persons Discharging Management Responsibility (‘PDMRs').
| Source: EnQuest PLC
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