REG-Gulf Keystone Petroleum Ltd Director / PDMR Shareholdings
04/04/2025 07:02
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Gulf Keystone Petroleum Ltd (GKP)
Director / PDMR Shareholdings
04-Apr-2025 / 07:00 GMT/BST
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4 April 2025
Gulf Keystone Petroleum Ltd. (LSE: GKP)
(“Gulf Keystone”, “GKP”, “the Group” or “the Company”)
Director / PDMR Shareholdings
Gulf Keystone announces the following transactions by persons discharging
managerial responsibilities ("PDMR").
Long Term Incentive Plan (“LTIP”)
Mr Jon Harris, Chief Executive Officer, and Mr Gabriel Papineau-Legris, Chief
Financial Officer, exercised their vested nil-cost share options granted to
them in 2022 under the 2014 Long Term Incentive Plan ("LTIP"). Upon exercise, a
proportion of their vested awards was sold to pay the tax liability arising
upon exercise, while the remainder was retained.
Share Vested Shares Shares Average price Date
Name Position Option awards sold for retained per share of of
Scheme exercised tax sale (£) sale
2014 2
Jon Harris CEO LTIP 362,441* 170,947 191,494 1.8977 April
2025
Gabriel 2014 2
Papineau-Legris CFO LTIP 74,261 35,027 39,234 1.8977 April
2025
*On exercise, Mr Harris is entitled to an amount in shares equivalent to the
dividends paid to shareholders during the vesting period on the vested shares
(“the Dividend Equivalent”). The Dividend Equivalent amount equates to 107,785
common shares and is included in the total of 362,441.
Deferred Bonus Plan (“DBP”)
On 1 April 2022, Mr Jon Harris was awarded 60,962 awards under the Deferred
Bonus Plan (“DBP”), representing 30% of his 2022 bonus award. Under the rules
of the DBP, the awards vested on 20 March 2025. In addition, Mr Harris is
entitled to an amount equivalent to the dividends paid to shareholders during
the vesting period on the vested shares (“the Dividend Equivalent”). This
amounts to £62,697, transferred to Mr Harris in the form of shares.
All awarded shares were net settled by the Company, resulting in the number of
shares being transferred to Mr Harris on 4 April 2025 being the post-tax
amount.
Net Net amount
Share amount Dividend of shares
Name Position Option Vested of for Date of Total
Scheme awards shares Equivalent Dividend transfer number of
post amount (£) Equivalent shares
tax post tax transferred
Jon CEO DBP 60,962 32,635 62,697 16,824 4 April 49,459
Harris 2025
Market purchases were made through the Company’s Employee Benefit Trust to
satisfy all awarded LTIP and DBP shares.
Following the transactions, Mr Harris owns 351,724 common shares in the Company
representing 0.16% of the issued share capital (“ISC”), while Mr
Papineau-Legris owns 480,923 common shares in the Company representing 0.22% of
the ISC.
Enquiries:
Gulf Keystone: +44 (0) 20 7514 1400
Aaron Clark, Head of Investor Relations
& Corporate Communications 1 aclark@gulfkeystone.com
FTI Consulting +44 (0) 20 3727 1000
Ben Brewerton
2 GKP@fticonsulting.com
Nick Hennis
or visit: 3 www.gulfkeystone.com
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and
producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone
is available on its website 4 www.gulfkeystone.com
This notification is made in accordance with the Market Abuse Regulation.
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 Jon Harris
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 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
Common shares of $1.00 each in Gulf
Description of the financial Keystone Petroleum Limited
a) instrument, type of instrument
Identification code
ISIN: BMG4209G2077
1. Exercise of 362,441 Nil-cost options
b) Nature of the transaction pursuant to 2014 LTIP (2022 award)
2. Sale of 170,947 shares to cover tax
liability
Price(s) Volume(s)
0p 362,441
c) Price(s) and volume(s)
189.77p 170,947
Aggregated information Price(s) Volume(s) Total
0p 362,441 £0
- Aggregated volume
d) - Price 189.77p 170,947 £324,406.12
- Total
e) Date of the transaction 2 April 2025
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Gabriel Papineau-Legris
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 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
Common shares of $1.00 each in Gulf
Description of the financial Keystone Petroleum Limited
a) instrument, type of instrument
Identification code
ISIN: BMG4209G2077
1. Exercise of 74,261 Nil-cost options
b) Nature of the transaction pursuant to 2014 LTIP (2022 award)
2. Sale of 35,027 shares to cover tax
liability
Price(s) Volume(s)
0p 74,261
c) Price(s) and volume(s)
189.77p 35,027
Aggregated information Price(s) Volume(s) Total
0p 74,261 £0
- Aggregated volume
d) - Price 189.77p 35,027 £66,470.74
- Total
e) Date of the transaction 2 April 2025
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name Jon Harris
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 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
Common shares of $1.00 each in Gulf
Description of the financial Keystone Petroleum Limited
a) instrument, type of instrument
Identification code
ISIN: BMG4209G2077
Transfer of vested awards under the
b) Nature of the transaction Deferred Bonus Plan
Price(s) Volume(s)
0p 49,559
c) Price(s) and volume(s)
Price(s) Volume(s) Total
Aggregated information 49,459
0p £0
d) - Aggregated volume
- Price
e) Date of the transaction 4 April 2025
f) Place of the transaction London Stock Exchange
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: BMG4209G2077
Category Code: MSCM
TIDM: GKP
LEI Code: 213800QTAQOSSTNTPO15
Sequence No.: 381130
EQS News ID: 2111614
End of Announcement EQS News Service
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References
Visible links
1. mailto:aclark@gulfkeystone.com
2. mailto:GKP@fticonsulting.com
3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8d526d3701dabe9a2ff9507b71394df8&application_id=2111614&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news
4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=6965f2bb1ddcf50ad2dd09b21a93cfc7&application_id=2111614&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news
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