17 Mar 2016 07:00
17 March 2016
Altona Energy plc
("Altona" or the "Company")
Proposal for a Share Option Scheme
Altona (AIM:ANR) announces that a circular (the "Circular"), containing details of a proposed new share option scheme to be introduced by the Company (the "Scheme"), will be posted to Altona shareholders today.
Under the proposed Scheme, options to subscribe for ordinary shares in the Company will be granted to directors as follows:
Director | Number of options |
|
|
Qinfu Zhang | 5 million |
|
|
Phillip Sutherland | 2 million |
|
|
Nicholas Lyth | 5 million |
Under the proposed Scheme, the options vest in two equal tranches with the first tranche vesting on the first anniversary after the date of grant and the balance vesting on the second anniversary of the date of grant. The exercise price is 1.5p per share and the exercise period is five years from the date of grant. If shareholders approve the Scheme, all existing share options granted to directors or employees of the Company will be cancelled or will have lapsed unexercised.
The Circular contains the notice of general meeting to be held at 12.00 p.m. on 1 April 2016 at the offices of Leander PR, Adam House, 7-10 Adam Street, London, WC2N 6AA, at which shareholder approval for the proposed Scheme, and an amendment to the Company's articles of association to allow any director to participate in this, or other share option schemes in the future, will be sought.
A copy of the Circular will be made available on the Company's website www.altonaenergy.com
Enquiries
Altona Energy plc Qinfu Zhang, Executive Chairman
| +44 (0)7555 679 245
|
Leander (Financial PR) Christian Taylor- Wilkinson
| +44 (0)7795 168 157 |
Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes (Corporate Broking)
| +44 (0)20 7382 1100 |