Share Option Grant
June 26 2007 - 7:46AM
UK Regulatory
RNS Number:0282Z
Global Energy Development PLC
26 June 2007
For Immediate Release 26 June 2007
GLOBAL ENERGY DEVELOPMENT PLC
SHARE OPTION GRANT
Global Energy Development PLC (the "Company") announces that on 13 June 2007
(the "grant date") under the Company's Share Option Scheme an aggregate of
200,000 options to subscribe for ordinary shares of 1 pence in the Company ("
Ordinary Shares") were granted to three senior management employees of the
Company as follows:
Name Position Options granted
Ms. Jennifer Hance director of Finance 50,000
Ms. Catherine Miles Company Secretary & 50,000
Head of Corporate Development
Mr. Francisco Suarez director of Exploitation 100,000
The options were granted at nil cost and each have an exercise price of 85.7
pence, this being equal to the average closing mid-market price per ordinary
share for the five business days preceding the grant date.
The options granted vest over a period of three years, with one third vesting on
each anniversary of the grant. Once vested the share options may be exercised
through to the tenth anniversary of the grant date unless the grantee ceases
being an employee of the Company, in which instance the options expire two
calendar years after the date the individual ceases to be an employee of the
Company.
Following the grant of these options, the above named senior management
employees' interests in the share capital of the Company is as follows:
Name Ordinary Shares Options
Ms. Jennifer Hance 880 200,000
Ms. Catherine Miles - 225,000
Mr. Francisco Suarez - 325,000
This notification is made in accordance with DR 3.1.4R(1)(a) of the Disclosure
Rules.
For further information
Global Energy Development PLC + 44 (0)20 7763 7177
Catherine Miles, Company Secretary
www.globalenergyplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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