4 Jun 2014 07:00
04 June 2014
ELAND OIL & GAS PLC
("Eland" or the "Company")
Directors Dealings and Issue of Options
Eland Oil & Gas PLC (AIM: ELA) announces the following Directors' dealings and issue of share options.
Directors Dealings
The Company received the notification on 3 June 2014 that Mr Ian Leslie Blair, Chief Executive Officer, and Mr George Maxwell, Chief Financial Officer, purchased a total of 80,000 and 20,000 ordinary shares in the Company respectively.
Mr Blair's shares were purchased at an average price of 109.3 pence per share. Following this notification the total beneficial holding of shares by Mr Blair and his connected persons is now 680,349 ordinary shares, representing 0.48% of the Company's total issued share capital.
Mr Maxwell's shares were purchased at an average price of 109.9 pence per share. Following this notification the total beneficial holding of shares by Mr Maxwell and his connected persons is now 420,000 ordinary shares, representing 0.30% of the Company's total issued share capital.
Issue of Options
As part of the issue of incentive share options to management of the Company ("New Options"), the Company has granted 500,000 New Options to Directors.
The New Options are exercisable at a price of 115.5p per share and expire 10 years from the date of issue. Vesting conditions are minimum 3 years from 29 May 2014 and a share price performance of above 165.5p per share. The following amounts of New Options have been granted to the Directors:
Name | New Options granted | Total options held |
Mr Ian Leslie Blair | 250,000 | 4,267,905 |
Mr George Maxwell | 250,000 | 3,765,667 |
For further information:
Eland Oil & Gas PLC (+44 (0) 207 016 3180)
Les Blair, CEO
George Maxwell, CFO
Edward Cozens, IR
Canaccord Genuity Limited (+44 (0) 207 523 8000)
Henry Fitzgerald-O'Connor
Peter Stewart
FirstEnergy Capital LLP (+44 (0) 207 448 0200)
Majid Shafiq
Khalid Ahmed
Citigate Dewe Rogerson (+44 (0) 207 638 9571)
Martin Jackson
Shabnam Bashir