HKN Energy

The Problem

A rapidly growing E&P entity, drilling in Iraqi Kurdistan. Planning to IPO in London, however is a US incorporation, with all executives based in Texas. Subject to FTSE250 governance rules upon listing.

HKN Energy
How we helped?

Rem.n developed public company compensation structure to cover executive and non-executive roles, appropriate post IPO. We selected two bespoke peer groups: UK/European; US (North Texas base with International operations) for market comparison analysis.

Design Work

Rem.n reviewed IPO considerations, providing an overview of governance requirements for listing in London. We set out market practice for the FTSE 250 and other peers, to assist in understanding the typical market standards.

Challenges/Complex requirements

UK vs US pay norms – both mix, quantum, expectations and micro elements of design (e.g. tax) differ drastically. Private into public issues – corporate governance, tax etc.

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