Source - RNS
RNS Number : 9710K
Borders & Southern Petroleum plc
27 September 2016
 

27 September 2016

 

Borders & Southern Petroleum plc

("Borders & Southern" or "the Company")

 

Grant of Options

 

Borders & Southern Petroleum announces that its Remuneration Committee has granted Non-Executive Director, Nigel Hurst-Brown, options over 1,000,000 ordinary shares in the Company, under the Company's Discretionary Share Option scheme.

 

The share options, awarded on 27th September 2016, have an exercise price of 1.8 pence per Ordinary Share (being the closing price of the Ordinary Share on the dealing day immediately proceeding the date of grant). Options granted are not exercisable for a period of three years from date of grant and may then be exercised for a period of seven years thereafter.

 

Following the award of options, Nigel Hurst Brown's total interest is as follows:

 


Ordinary Shares

Option Shares

Nigel Hurst-Brown

1,530,000

1,250,000 options

 

The current issued share capital of the Company is 484,098,404 ordinary shares.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the transaction described above.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nigel Hurst-Brown

2

Reason for notification

a)

Position / status

Non-Executive Director

b)

Initial notification / amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Borders & Southern Petroleum plc

b)

LEI

(Pending)

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

Share options over ordinary shares of 1 pence each in Borders & Southern Petroleum plc


Identification code

ISIN: GB00B08F4599

b)

Nature of the transaction

Grant of share options under the Borders & Southern Petroleum plc Discretionary Share Option scheme, described above

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

1.8 pence

1,000,000

d)

Aggregated information

N/A

e)

Date of the transaction

2016-09-27

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

 

For further information please visit www.bordersandsouthern.com or contact:

 

Howard Obee

Adam James / Atholl Tweedie

Borders & Southern Petroleum plc

Panmure Gordon (UK) Limited

Tel: 020 7661 9348

Tel: 020 7886 2500



Simon Hudson


Tavistock


Tel: 020 7920 3150


 

Notes:

Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% interest in three Production Licences in the South Falkland Basin covering an area of nearly 10,000 square kilometres. The Company has acquired 2,862 km of 2D seismic, 2,517 square kilometres of 3D seismic and drilled two exploration wells, making a gas condensate discovery (Darwin) with its first well. Management's previously reported un-risked base case (P50) resource estimate for the combined Darwin East and Darwin West structures, incorporating all proven and potential reservoirs, is 354 million barrels of recoverable condensate.

 

-ends-


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