Source - RNS
RNS Number : 3731X
Lekoil Limited
09 August 2018
 

9 August 2018

 

Lekoil Limited

("LEKOIL" or the "Company")

 

Award of Options to Directors and PDMRs

 

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company has made the following awards of options over ordinary shares of par value US$0.00005 each in the capital of the Company ("Ordinary Shares") to Directors under the Long Term Incentive Plan for the CEO and CFO, and the Non-Executive Director Share Plan for the Non-Executive Directors:

 

Director

Options granted

Existing options

Total options

Olalekan Akinyanmi

Chief Executive Officer

2,500,000

11,223,000

13,723,000

Lisa Mitchell

Chief Financial Officer

1,500,000

1,500,000

3,000,000

Samuel Adegboyega

Non-executive Chairman

100,000

950,000

1,050,000

Aisha Oyebode

Non-executive Director

100,000

387,500

487,500

John Van Der Welle

Non-executive Director

100,000

387,500

487,500

Hezekiah Adesola Oyinlola

Non-executive Director

100,000

200,000

300,000

Gregory Eckersley

Non-executive Director

100,000

1,362,500

1,462,500

Tom Schmitt

Non-executive Director

100,000

-

100,000

 

The Company has also made awards of options over Ordinary Shares under the Long Term Incentive Plan for the following members of the senior management team that the Company has designated as persons discharging managerial responsibilities ("PDMRs"):

 

Name

Options granted

Existing options

Total options

Adeleke Adedipe

Chief Operating Officer

300,000

1,500,000

1,800,000

Samuel Olotu

Chief Technical Officer

375,000

7,325,000

7,700,000

Dotun Adejuyigbe

GM, Commercial

250,000

2,650,000

2,900,000

U. Hamilton Esi

GM, Communications

150,000

1,230,000

1,380,000

Gloria Iroegbunam

GM, Legal

200,000

2,200,000

2,400,000

Kike Fajemirokun

Head, HR and Administration

150,000

1,000,000

1,150,000

Shola Adekeye

MD, LEKGAS

200,000

600,000

800,000

 

In addition, 2,005,000 options over Ordinary Shares are being made available to other eligible employees under the Long Term Incentive Plan.

 

All options issued under these awards are being issued with an exercise price of 19.73p, being the trailing three day average closing price prior to the date of grant.  Options have a three-year vesting period from the date of award and a seven year expiry from when the options vest.

The Directors currently have the following interests in ordinary shares in addition to the options set out above:

 

Director

Position

Number of shares

% of issued share capital

Olalekan Akinyanmi

Chief Executive Officer

39,332,551

7.3

Lisa Mitchell

Chief Financial Officer

-

-

Samuel Adegboyega

Non-executive Chairman

1,160,000

0.2

Aisha Oyebode

Non-executive Director

256,250

0.1

John Van Der Welle

Non-executive Director

-

-

H. Adesola Oyinlola

Non-executive Director

632,431

0.1

Gregory Eckersley

Non-executive Director

3,003,050

0.5

Tom Schmitt

Non-executive Director

-

-

 

For further information, please visit www.lekoil.com or contact:

 

LEKOIL Limited

Alfred Castaneda, Investor Relations

Lisa Mitchell, Chief Financial Officer

 

 

+44 20 7920 3150

 

Strand Hanson Limited (Financial & Nominated Adviser)

James Harris / James Spinney / Ritchie Balmer

 

 

+44 20 7409 3494

 

Mirabaud Securities Limited (Joint Broker)

Peter Krens / Edward Haig-Thomas

 

 

+44 20 7878 3362 / +44 20 7878 3447

BMO Capital Markets (Joint Broker)

Jeremy Low / Neil Haycock / Thomas Rider

 

 

+44 20 7236 1010

Numis Securities (Joint Broker)

John Prior / Ben Stoop

 

 

+44 20 7260 1000

Tavistock (Financial PR)

Simon Hudson / Barney Hayward / Charles Vivian

 

+44 20 7920 3150

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

-ends-


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END
 
 
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