Altona Energy Regulatory News (ANR)

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:

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 

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