Source - RNS
RNS Number : 5489K
Prospex Oil and Gas PLC
22 September 2016
 

Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas

22 September 2016

Prospex Oil and Gas Plc ('Prospex' or the 'Company')
Grant of Options

 

Following the successful completion of the Company's initial investment strategy, substantial progress with its major investment in Hutton Poland Limited, and the raising of two tranches of new capital, Prospex Oil and Gas Plc, the AIM quoted investment company, announces that it has today awarded a total of 19,292,349 options to members of the Board and other staff over new Ordinary Shares in the Company (the 'Options').

 

The Options awarded in three separate schemes, and represent a key component of the Company's long-term incentive plan.  A portion of the Options are exercisable immediately and the remainder are only exercisable following the closing price of the ordinary shares being at 5p or higher for 5 consecutive trading days.  Subject to this condition, all Options can be exercised at any time in the next three years.

 

The options issued to the directors and PDMR's of the Company, are set out below:

 


Options Awarded

Exercise price of 1p per share with immediate  unconditional vesting

Exercise price of 1p per share  vesting once the shares have closed at 5p or higher for 5 consecutive  trading days

Exercise price of 1.1p per share  vesting once the shares have closed at 5p or higher for 5 consecutive trading days

Total options now held

Ed Dawson

6,701,663

971,663

4,438,000

1,292,000

7,381,875

Richard Mays

3,783,614*

20,196

2,327,418

1,436,000

4,325,340

William Smith

3,783,614

20,196

2,327,418

1,436,000

4,325,340

Other personnel

5,023,458

422,154

4,601,500


6,918,910

Total

19,272,349

1,434,209

13,694,336

4,184,000

22,951,465

 

*The options awarded to Richard Mays will be held in the name of Sallork Limited, a company he owns and controls.

 

* * ENDS * *

 

For further information visit www.prospexoilandgas.com or contact the following:

 

Edward Dawson

Prospex Oil and Gas Plc

Tel: +44 (0) 207 887 1461

Katy Mitchell
Nick Prowting
Jay Ashfield

WH Ireland Limited

WH Ireland Limited

WH Ireland Limited

Tel: 0113 394 6600

Tel: +44 (0) 207 220 1658

Jon Belliss

Beaufort Securities Limited

Tel: +44 (0) 207 382 8300

Lucy Williams

Charles Goodfellow

Eran Zucker

Peterhouse Corporate Finance
Peterhouse Corporate Finance

Peterhouse Corporate Finance

Tel: +44 (0) 207 469 0932

Charlotte Page

Frank Buhagiar

St Brides Partners Ltd

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177     

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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