Amerisur Resources PLC Long Term Incentive Plan Awards (8421L)
April 23 2018 - 12:29PM
UK Regulatory
TIDMAMER
RNS Number : 8421L
Amerisur Resources PLC
23 April 2018
23 April 2018
Amerisur Resources Plc ("Amerisur" or the "Company")
Long Term Incentive Plan ("LTIP") Awards
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil
and gas producer and explorer focused on South America, announces
that on 20 April 2018 it granted awards under the Long Term
Incentive Plan adopted in 2011, to all staff and two executive
Directors in respect of a total of 12,954,642 ordinary shares (the
"Awards"), representing 1.1% of the issued share capital.
Name Awards Vesting Total options following
date this grant
--------------- ----------- -------- ------------------------
April
Staff 6,300,000 2021 18,000,000
--------------- ----------- -------- ------------------------
April
John Wardle 5,484,028 2021 16,696,028
--------------- ----------- -------- ------------------------
April
Nick Harrison 1,170,614 2021 5,170,614
--------------- ----------- -------- ------------------------
Total 12,954,642 39,866,642
--------------- ----------- -------- ------------------------
It is the aim of the Remuneration Committee to reward key
employees on a basis which is aligned to the performance of the
Company and as such a significant portion of remuneration is based
on performance. In line with this strategy, and as outlined on page
50 of Amerisur's annual report, the shares awarded to John Wardle,
CEO, and Nick Harrison, CFO, are subject to a two-year holding
period after the three-year performance period. The awards will be
subject to claw back and malus provisions.
In relation to the awards to directors, half of the Awards are
subject to an absolute total shareholder return performance
condition whereby 30% of this portion will vest if 10% compound
annual returns are achieved, measured at the end of the three-year
performance period and 100% will vest if 20% compound annual
returns are achieved, with straight line vesting between these
points. The base price for the share price growth is 16.61p being
the average market price for the 3 trading days prior to the grant
(calculated as the average volume weighted average price (VWAP)
over the period).
Half of the Awards to directors are subject to a comparative
total shareholder return performance condition whereby 30% of this
portion will vest at median performance, measured against the
comparator group at the end of the three-year performance period
and 100% will vest at upper quartile performance, with straight
line vesting between these points.
Stephen Foss, Independent Director and Chairman of the
Remuneration Committee said:
"The Long Term Incentive Plan links incentives to performance,
aligning the Amerisur staff and executive with the interests of
shareholders, who I would like to thank for their continued
support."
Ends
Enquiries:
Billy Clegg/Georgia Edmonds Tel: +44 (0)203
757 4980
Camarco
Callum Stewart/Ashton Clanfield/Nicholas Tel: +44 (0)20
Rhodes 7710 7600
Stifel Nicolaus Europe Limited
Chris Sim/George Price Tel: +44 (0)207
597 4000
Investec
Darrell Uden/Marcus Jackson Tel: +44 (0)207
653 4000
RBC Capital Markets
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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