Empyrean Energy PLC Option Amendment (9346H)

TIDMEME

RNS Number : 9346H

Empyrean Energy PLC

13 June 2017

Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas

13 June 2017

Empyrean Energy PLC ('Empyrean' or 'the Company')

Option Amendment

Empyrean confirms that, on 12 June 2017, the Board approved the amendments to the terms of the outstanding options (the "Options") in respect of 45,000,000 ordinary shares of 0.2p each in the Company ("Ordinary Shares") in accordance with the terms of the agreement entered into between the Company and Macquarie Bank Limited, the original option holder, in respect of the Options on 30 May 2012 (the "Option Agreement"). The Option Agreement provides for adjustments to the option price in the event of a pro rata issue of shares (other than a bonus issue). Accordingly, as a result of the open offer originally announced 4 April 2017, the amended terms of the Options are set out below:

 
 Number of    Original    Exercise Price   Expiry Date 
  Options      Exercise 
               Price 
 15,000,000   2.1 pence   2.0 pence        19 July 2017 
 15,000,000   4.1 pence   4.0 pence        25 March 2018 
 15,000,000   2.1 pence   2.0 pence        26 July 2019

As announced on 13 March 2017, the Options are currently owned by Apnea Holdings Pty Ltd ("Apnea"), a company which is wholly-owned by Tom Kelly, CEO of Empyrean.

**ENDS**

 
  Empyrean Energy plc 
   Tom Kelly               Tel: +61 8 9481 0389 
 
 
   Cenkos Securities plc 
   Neil McDonald           Tel: +44 (0) 131 220 
                            9771 
   Beth McKiernan          Tel: +44 (0) 131 220 
                            9778 
   Nick Tulloch            Tel: +44 (0) 131 220 
                            9772 
 
 
   St Brides Partners Ltd 
   Lottie Brocklehurst     Tel: +44 (0) 20 7236 
                            1177 
   Olivia Vita             Tel: +44 (0) 20 7236 
                            1177

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCVXLBFDQFEBBX

(END) Dow Jones Newswires

June 13, 2017 05:00 ET (09:00 GMT)

Empyrean Energy (LSE:EME)
Historical Stock Chart
From Aug 2024 to Sep 2024