Xcite Energy Limited Award of Options (4536P)
August 19 2014 - 2:00AM
UK Regulatory
TIDMXEL
RNS Number : 4536P
Xcite Energy Limited
19 August 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
TSX-V, LSE-AIM: XEL
19 August 2014
Xcite Energy Limited
("Xcite Energy" or the "Company")
Award of Options
Xcite Energy announces the award of an aggregate of 6,700,000
options to purchase ordinary shares of the Company to all members
of the Xcite Energy Resources plc management team and staff, and to
the Board of Directors.
The options were granted under the terms of the Company's Share
Option Scheme by reference to the closing price on the TSX-V of the
Company's ordinary shares on 18 August 2014 and vest immediately.
This award is made in recognition of the substantial progress made
in 2014 to re-finance the Company, the formation of the Bentley
development partner group and the work to define and de-risk the
costs and schedule for the field development plan.
All options have an exercise price of GBP0.64 (CAN$1.17) per
ordinary share and carry a term of five years from the date of
award.
Following these option awards, the Directors of the Company have
the following aggregate number of ordinary shares under option:
Option award Aggregate ordinary
now being made shares under option
------------------- ---------------- ---------------------
Timothy Jones 200,000 790,000
------------------- ---------------- ---------------------
Gregory Moroney 100,000 690,000
------------------- ---------------- ---------------------
Scott Cochlan 100,000 790,000
------------------- ---------------- ---------------------
Henry Wilson 100,000 250,000
------------------- ---------------- ---------------------
Stephen Kew 650,000 4,071,000
------------------- ---------------- ---------------------
Rupert Cole 650,000 4,071,000
------------------- ---------------- ---------------------
Andrew Fairclough 850,000 2,100,000
------------------- ---------------- ---------------------
ENQUIRIES:
+44 (0) 1483 549
Xcite Energy Limited 063
Rupert Cole / Andrew Fairclough
+44 (0) 203 100
Liberum (Joint Broker and Nomad) 2222
Clayton Bush / Tim Graham
+44 (0) 207 425
Morgan Stanley (Joint Broker) 8000
Andrew Foster
+44 (0) 207 861
Bell Pottinger 3232
Mark Antelme / Henry Lerwill
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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