Centamin PLC Announces Director/PDMR Shareholding
Rhea-AI Summary
Centamin PLC has announced director/PDMR shareholding changes under its Remuneration Policy and Incentive Plan. Performance-based awards of ordinary shares were granted to key executives:
- CEO Martin Horgan: 751,200 shares
- CFO Ross Jerrard: 599,700 shares
- Country Manager (Egypt) Amr Hassouna: 384,500 shares
These awards are subject to performance conditions and will partially or fully vest after three years on September 11, 2027, followed by a two-year holding period. The plan aims to align executive remuneration with shareholder interests and long-term company performance. Recipients must typically be employed by Centamin at the time of vesting.
Positive
- Alignment of executive compensation with shareholder interests and long-term company performance
- Implementation of performance-based share awards for key executives
- Three-year vesting period followed by a two-year holding period, promoting long-term commitment
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CELTF gained 4.12%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PERTH, AUSTRALIA / ACCESSWIRE / September 12, 2024 / ("Centamin" or "the Company") (LSE:CEY)(TSX:CEE)
DIRECTOR/PDMR SHAREHOLDING
Under the shareholder approved Remuneration Policy and Centamin Incentive Plan ("Plan"), which aims to align Executive remuneration with that of the shareholders and long-term performance of the Company, contingent awards over ordinary shares of nil par value in the Company were made to the following Directors and Persons Discharging Managerial Responsibility ("PDMR").
Subject to clear performance conditions, the awards to the following participants will partially or fully vest after three years, on 11 September 2027 and are subject to a further two-year holding period. In the normal course, the Plan participants are required to be an employee of the Company at the time of vest.
For more details on the Plan, please refer to the Remuneration Report within the 2023 Annual Report and Accounts, available on the Company's website (https://www.centamin.com/annual-report-2023/).
Name | Director/PDMR | Number of Plan Awards |
Martin Horgan | Director (CEO) | 751,200 |
Ross Jerrard | Director (CFO) | 599,700 |
Amr Hassouna | PDMR (Country Manager) | 384,500 |
DIRECTOR/PDMR NOTIFICATIONS
In accordance with the requirements of Article 19 of the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European (Withdrawal Act 2028), the Company makes the below notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
This announcement contains ongoing regulated information.
FOR MORE INFORMATION please visit the website www.centamin.com or contact:
Centamin plc Michael Stoner, Head of Corporate | FTI Consulting Ben Brewerton / Sara Powell / Nick Hennis |
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 | Martin Horgan | |
2 | Reason for the notification | ||
a) | Position/status | Director - 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 | Centamin plc | |
b) | LEI | LEI 213800PDI9G7OUKLPV84 | |
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 ISIN JE00B5TT1872 | |
b) | Nature of the transaction | Grant of performance share awards under the terms of the Centamin Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 751,200 | ||
d) | Aggregated information Aggregated volume Price | 751,200 CEY shares Nil | |
e) | Date of the transaction | 2024-09-11 | |
f) | Place of the transaction | Outside a trading venue | |
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 | Ross Jerrard | |
2 | Reason for the notification | ||
a) | Position/status | Director - 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 | Centamin plc | |
b) | LEI | LEI 213800PDI9G7OUKLPV84 | |
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 ISIN JE00B5TT1872 | |
b) | Nature of the transaction | Grant of performance share awards under the terms of the Centamin Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 599,700 | ||
d) | Aggregated information Aggregated volume Price | 599,700 CEY shares Nil | |
e) | Date of the transaction | 2024-09-11 | |
f) | Place of the transaction | Outside a trading venue | |
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 | Amr Hassouna | |
2 | Reason for the notification | ||
a) | Position/status | PDMR - Country Manager (Egypt) | |
b) | Initial notification/Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Centamin plc | |
b) | LEI | LEI 213800PDI9G7OUKLPV84 | |
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 ISIN JE00B5TT1872 | |
b) | Nature of the transaction | Grant of performance share awards under the terms of the Centamin Incentive Plan | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil | 384,500 | ||
d) | Aggregated information Aggregated volume Price | 384,500 CEY shares Nil | |
e) | Date of the transaction | 2024-09-11 | |
f) | Place of the transaction | Outside a trading venue | |
-END
LEI: 213800PDI9G7OUKLPV84
Company No: 109180
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SOURCE: Centamin PLC
View the original press release on accesswire.com
FAQ
How many performance-based shares were awarded to Centamin's CEO Martin Horgan?
When will the Centamin Incentive Plan awards vest for the executives?
What is the purpose of Centamin's Remuneration Policy and Incentive Plan?
How long is the holding period for Centamin's performance-based share awards after vesting?
