Grants of conditional share awards under performance share plan
Notification of transactions by directors/persons discharging managerial responsibilities

20 January 2017

Urals Energy PCL ("Urals Energy" or the "Company")
Grants of conditional share awards under performance share plan
Notification of transactions by directors/persons discharging managerial responsibilities

Further to the announcements made on 11 October 2016 and 10 November 2016, the board (the "Board") of Urals Energy PCL (AIM: UEN), the independent exploration and production company with operations in Russia, announces the granting of conditional share awards ("Conditional Share Awards") over a total of 13,127,193 new ordinary shares of US$0.0063 each in the capital of the Company (the "Performance Shares"), pursuant to the Company's performance share plan (the "Performance Share Plan"). 

Grants of Conditional Share Awards have been made to a total of seven employees, including members of the Company's Board and certain key employees within the Group's subsidiaries. In aggregate, the Performance Shares represent 5.2 per cent of the Company's current issued ordinary share capital. For the time being, the Board intends to retain the balance of a further 4.9 per cent of the Company's current issued ordinary share capital, which is approved under the Performance Share Plan.

The Conditional Share Awards will only vest once the Board has determined that certain key performance indicators ("KPIs") allocated to the individuals have been achieved. The KPIs in all cases relate to performance in the underlying operations and developments achieved by the Group over the three years. The Board has rejected linking the KPIs to the share price of the Company in absolute terms or relative to its peers, as the Board believes that this can be influenced by the outcome of multiple factors, many of which are not fair reflections of the performance of the individuals.

Mr Leonid Dyachenko, Chief Executive Officer has been granted 3,844,947 Conditional Share Awards. Mr Sergey Uzornikov, Chief Financial Officer has been granted 1,201,546 Conditional Share Awards. Mr Andrew Shrager, Chairman, has been granted 1,201,546 Conditional Share Awards. Mr Stephen Buscher, Non-Executive Director, has been granted 631,115 Conditional Share Awards. In addition Conditional Share Awards have been made to the non-Board employees set out below:

Name of Participant Date of Grant Role Number of Conditional
Share Awards granted
Mr Sergey Kononov 19 January 2017 President of the Management
company Urals Energy LLC
3,844,947
Mr Anton Babak 19 January 2017 Vice President Exploration & Production 1,201,546
Mr Vasily Nikoluk 19 January 2017 Vice President Geology 1,201,546

The Company's Performance Share Plan was approved by shareholders on 10 November 2016. Further details of the Performance Share Plan can be found in the Company's announcement of 11 October 2016. The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below and gives further details on the Conditional Share Award grants for directors and persons discharging managerial responsibilities.

Andrew Shrager, Chairman, commented: "As recently announced, we believe that the time is right to start making preparations for a significant step up in the development of our reserves, both those long held and those resulting from our recent acquisitions and new licence awards. It is important therefore that we have strong incentives for our key managers to ensure that we can fulfil our plans effectively".

 

For further information, please contact:

Urals Energy Public Company Limited
Andrew Shrager, Chairman
Leonid Dyachenko, Interim Chief Executive Officer
Tel: +7 495 795 0300, www.uralsenergy.com

Allenby Capital Limited, Nominated Adviser and Broker
Nick Naylor / Alex Brearley
Tel: +44 (0) 20 3328 5656, www.allenbycapital.com

 

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 Leonid Dyachenko
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 Urals Energy Public Company Limited
b) LEI Not available
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 US$0.0063 in Urals Energy Public Company Limited. Identification code (ISIN) for Urals Energy Public Company Limited ordinary shares: CY0000111027
b) Nature of the transaction Grant of nil cost Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares at a future release date under the Company's Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
0.00 3,844,947 Conditional Share Awards
d) Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above. 3,844,947 Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares for no cost at a future release date were granted.
e) Date of the transaction 19 January 2017
f) Place of the transaction Outside of trading venue - grant of Conditional Share Awards

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Sergey Uzornikov
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 Urals Energy Public Company Limited
b) LEI Not available
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 US$0.0063 in Urals Energy Public Company Limited. Identification code (ISIN) for Urals Energy Public Company Limited ordinary shares: CY0000111027
b) Nature of the transaction Grant of nil cost Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares at a future release date under the Company's Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
0.00 1,201,546 Conditional Share Awards
d) Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above. 1,201,546 Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares for no cost at a future release date were granted.
e) Date of the transaction 19 January 2017
f) Place of the transaction Outside of trading venue - grant of Conditional Share Awards

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Andrew Shrager
2 Reason for the notification
a) Position/status Director - Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Urals Energy Public Company Limited
b) LEI Not available
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 US$0.0063 in Urals Energy Public Company Limited. Identification code (ISIN) for Urals Energy Public Company Limited ordinary shares: CY0000111027
b) Nature of the transaction Grant of nil cost Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares at a future release date under the Company's Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
0.00 1,201,546 Conditional Share Awards
d) Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above. 1,201,546 Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares for no cost at a future release date were granted.
e) Date of the transaction 19 January 2017
f) Place of the transaction Outside of trading venue - grant of Conditional Share Awards

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Stephen Buscher
2 Reason for the notification
a) Position/status Director - 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 Urals Energy Public Company Limited
b) LEI Not available
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 US$0.0063 in Urals Energy Public Company Limited. Identification code (ISIN) for Urals Energy Public Company Limited ordinary shares: CY0000111027
b) Nature of the transaction Grant of nil cost Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares at a future release date under the Company's Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
0.00 631,115 Conditional Share Awards
d) Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above. 631,115 Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares for no cost at a future release date were granted.
e) Date of the transaction 19 January 2017
f) Place of the transaction Outside of trading venue - grant of Conditional Share Awards

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Sergey Kononov
2 Reason for the notification
a) Position/status President of Urals Energy LLC
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Urals Energy Public Company Limited
b) LEI Not available
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 US$0.0063 in Urals Energy Public Company Limited. Identification code (ISIN) for Urals Energy Public Company Limited ordinary shares: CY0000111027
b) Nature of the transaction Grant of nil cost Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares at a future release date under the Company's Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
0.00 3,844,947 Conditional Share Awards
d) Aggregated information
- Aggregated volume
- Price
Single transaction as in 4 c) above. 3,844,947 Conditional Share Awards to acquire Urals Energy Public Company Limited new ordinary shares for no cost at a future release date were granted.
e) Date of the transaction 19 January 2017
f) Place of the transaction Outside of trading venue - grant of Conditional Share Awards

 

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