Sign In
23 May 2016 15:31
23 May 2016
Amerisur Resources Plc ("Amerisur" or the "Company")
Long Term Incentive Plan ("LTIP") Awards
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, announces that on 20 May 2016 it granted awards under the Long Term Incentive Plan adopted in 2011, to all staff and Directors in respect of a total of 11,300,000 ordinary shares (the "Awards"), representing 0.9% of the issued share capital.
Name | Awards | Vesting date | Total options following this grant |
Staff | 5,000,000 | May 2019 | 12,876,141 |
John Wardle | 4,200,000 | May 2019 | 24,340,000 |
Giles Clarke | 1,100,000 | May 2019 | 9,900,000 |
Nick Harrison | 1,000,000 | May 2019 | 9,800,000 |
Total | 11,300,000 | 56,916,141 |
Half of the Awards are subject to an absolute total shareholder return performance condition whereby 30% of this portion will vest if 10% compound annual returns are achieved, measured at the end of the three-year performance period and 100% will vest if 20% compound annual returns are achieved, with straight line vesting between these points. The base price for the share price growth is 27.5p being the average of closing price for the 3 calendar days prior to grant.
Half of the Awards are subject to a comparative total shareholder return performance condition whereby 30% of this portion will vest at median performance, measured against the comparator group at the end of the three-year performance period and 100% will vest at upper quartile performance, with straight line vesting between these points.
The Company consulted with major shareholders prior to making this award. This award follows the passing of the Company's remuneration report at its Annual General Meeting earlier this month.
Stephen Foss, Senior Independent Director and Chairman of the Remuneration Committee said:
"I would like to thank shareholders for their engagement on this process."
Ends
ENQUIRIES:
Billy Clegg/Georgia Mann | Tel: +44 (0)203 757 4980 |
Camarco
| |
Callum Stewart/Ashton Clanfield Stifel Nicolaus Europe Limited | Tel: +44 (0)20 7710 7600 |
Chris Sim/George Price | Tel: +44 (0)207 597 4000 |
Investec | |
Darrell Uden/Daniel Conti | Tel: +44 (0)207 653 4000 |
RBC Capital Markets |
Follow the stocks
