Prospex Oil and Gas PLC Grant of Options (5489K)
September 22 2016 - 4:00AM
UK Regulatory
TIDMPXOG
RNS Number : 5489K
Prospex Oil and Gas PLC
22 September 2016
Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil
and Gas
22 September 2016
Prospex Oil and Gas Plc ('Prospex' or the 'Company')
Grant of Options
Following the successful completion of the Company's initial
investment strategy, substantial progress with its major investment
in Hutton Poland Limited, and the raising of two tranches of new
capital, Prospex Oil and Gas Plc, the AIM quoted investment
company, announces that it has today awarded a total of 19,292,349
options to members of the Board and other staff over new Ordinary
Shares in the Company (the 'Options').
The Options awarded in three separate schemes, and represent a
key component of the Company's long-term incentive plan. A portion
of the Options are exercisable immediately and the remainder are
only exercisable following the closing price of the ordinary shares
being at 5p or higher for 5 consecutive trading days. Subject to
this condition, all Options can be exercised at any time in the
next three years.
The options issued to the directors and PDMR's of the Company,
are set out below:
Options Exercise Exercise Exercise Total
Awarded price price of price of options
of 1p 1p per share 1.1p per now held
per share vesting once share vesting
with the shares once the
immediate have closed shares have
unconditional at 5p or closed at
vesting higher for 5p or higher
5 consecutive for 5 consecutive
trading days trading days
------------ ----------- --------------- --------------- ------------------- -----------
Ed Dawson 6,701,663 971,663 4,438,000 1,292,000 7,381,875
------------ ----------- --------------- --------------- ------------------- -----------
Richard
Mays 3,783,614* 20,196 2,327,418 1,436,000 4,325,340
------------ ----------- --------------- --------------- ------------------- -----------
William
Smith 3,783,614 20,196 2,327,418 1,436,000 4,325,340
------------ ----------- --------------- --------------- ------------------- -----------
Other
personnel 5,023,458 422,154 4,601,500 6,918,910
------------ ----------- --------------- --------------- ------------------- -----------
Total 19,272,349 1,434,209 13,694,336 4,184,000 22,951,465
------------ ----------- --------------- --------------- ------------------- -----------
*The options awarded to Richard Mays will be held in the name of
Sallork Limited, a company he owns and controls.
* * ENDS * *
For further information visit www.prospexoilandgas.com or
contact the following:
Edward Dawson Prospex Oil and Gas Tel: +44 (0) 207
Plc 887 1461
Katy Mitchell WH Ireland Limited Tel: 0113 394
Nick Prowting WH Ireland Limited 6600
Jay Ashfield WH Ireland Limited
Tel: +44 (0)
207 220 1658
Jon Belliss Beaufort Securities Tel: +44 (0) 207
Limited 382 8300
Lucy Williams Peterhouse Corporate Tel: +44 (0) 207
Charles Goodfellow Finance 469 0932
Eran Zucker Peterhouse Corporate
Finance
Peterhouse Corporate
Finance
Charlotte Page St Brides Partners Tel: +44 (0) 20
Frank Buhagiar Ltd 7236 1177
St Brides Partners
Ltd
This information is provided by RNS
The company news service from the London Stock Exchange
END
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