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20 Aug 2014 07:00
Fastnet Oil & Gas plc
("Fastnet" or the "Company")
Grant of options
20 August 2014
The Company announces that options over a total of up to 5,000,000 new ordinary shares of 3.8 pence each in the Company ("Options") have today been awarded to Will Holland, Chief Financial Officer. The Options have an exercise price of 14 pence per ordinary share.
The Options vest in four tranches over the period to 1 May 2016 and lapse 2 years after vesting. The Options may only be exercised during the 2 year window if, during that period, the share price exceeds a specific performance target (as set out in the table below).
Options | Exercise Price | Vesting Date | Lapse date | Share Price Target |
1,000,000 | 14p | 1/10/2014 | 1/10/2016 | 17.5p |
1,500,000 | 14p | 1/5/2015 | 1/5/2017 | 21p |
1,500,000 | 14p | 1/11/2015 | 1/11/2017 | 24.5p |
1,000,000 | 14p | 1/5/2016 | 1/5/2018 | 31.5p |
Will Holland currently does not have an interest in the ordinary shares of the Company.
For further information please contact:
Fastnet Oil & Gas plc Cathal Friel, Chairman Paul Griffiths, Managing Director | +353 (1) 644 0007 |
Shore Capital Nomad Bidhi Bhoma, Edward Mansfield
Corporate Broking Jerry Keen | +44 (0) 20 7408 4090 |
GMP Securities Europe LLP (Joint Broker) Rob Collins, Emily Morris, Liz Williamson |
+44 (20) 7467 2800
|
Davy (ESM Adviser & Joint Broker) John Frain, Anthony Farrell |
+353 (1) 679 6363 |
Bell Pottinger Philip Dennis, Rollo Crichton-Stuart, Jimmy Lea |
+44 (0) 0203 772 2734
|
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