GED Global Energy

    RNS Number : 5067K
  Global Energy Development PLC
  19 December 2008
   

 For Immediate Release  19 December 2008



    GLOBAL ENERGY DEVELOPMENT PLC

    SHARE OPTION GRANT

    Global Energy Development PLC (the "Company") announces that on 11 December 2008 (the "Grant Date") options over 710,000 ordinary shares
of 1 pence in the Company ("Ordinary Shares") were granted under the Company's Employee Share Option Scheme to Directors and senior
management employees of the Company (the "Grantees") as follows:

    Directors:

 Name                Position                      Shares under option granted

 Mr. Mikel Faulkner  Executive Chairman            160,000
 Mr. Stephen Voss    Vice Chairman and Operations  160,000
                     Director
 Lord Freeman        Non-executive Director        50,000
 Mr. David Quint     Non-executive Director        50,000
 Mr. Alan Henderson  Non-executive Director        50,000

    Senior Management:

 Name                 Position                     Shares under option granted

 Mr. Elmer Johnston   Compliance director          80,000
 Mr. Bruce Bottger    Finance director             80,000
 Ms. Catherine Miles  Company Secretary and        80,000
                      Business Development
                      director


    The options were granted at nil cost and each have an exercise price of 70 pence, this being greater than the average closing mid-market
price per ordinary share for the five business days preceding the Grant Date, which was 67.5 pence.

    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 Company has 5,285,196 shares under option and the above named Directors' and senior managers'
interests in the share capital of the Company are as follows:


    Directors:

 Name                Ordinary Shares  Shares under option

 Mr. Mikel Faulkner  178,000          1,890,000
 Mr. Stephen Voss    24,349           1,200,000
 Lord Freeman        5,000            140,000
 Mr. David Quint     47,428           150,000
 Mr. Alan Henderson  9,421            180,000

    Senior Management:

 Name                 Ordinary Shares  Shares under option 

 Mr. Elmer Johnston   -                290,196
 Mr. Bruce Bottger    -                180,000
 Ms. Catherine Miles  -                380,000


    For further information

 Global Energy Development PLC       + 44 (0)20 7763 7177
 Catherine Miles, Company Secretary

 Teathers                            + 44 (0)20 7426 9000
 Tom Hulme
 Sebastian Jones


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