Sign In
23 Jan 2009 15:47
ο»Ώ
Regulatory PressΒ Release
Afren PLCΒ
23Β January 2009
Afren plc ('Afren' or 'the Company')
Award of Options
The Company announces thatΒ the Board of DirectorsΒ haveΒ approved the following share optionΒ awardΒ over ordinary shares of 1p each ("Ordinary Shares") in the CompanyΒ under the Afren plc Share Option Scheme:
|
Director |
Number of Share Options AwardedΒ 23rdΒ January 2009 |
Total Number of Director's Options following this notification |
|
Osman Shahenshah |
3,000,000 |
7,400,000 |
|
Shahid Ullah |
1,500,000 |
1,500,000 |
|
Egbert Imomoh |
750,000 |
3,500,000 |
|
Constantine Ogunbiyi |
1,250,000 |
3,250,000 |
Β
The optionsΒ have an exercise price of 23.25 pence and will vest according to the schedule below
20% after 1 year;
20% after 2 years; and
60% after 3 yearsΒ
once a closing share price of a 40 per cent premium above the exercise price is achieved for a three month period,Β from the date of award forΒ 10Β years.
EnquiriesΒ
Β
Β
Β + 44Β 20Β 7451Β 9700Β
Β
Follow the stocks
