5 Jan 2016 12:00
5th January 2016
Eland Oil & Gas PLC
("Eland" or the "Company")
Issue of Options
Eland Oil & Gas PLC (AIM:ELA), the oil and gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, announces today that as part of its management incentivisation scheme, the Company will, today, grant to Directors options over 1,200,000 shares as set out below:
Name | Options granted | Total options held |
Mr George Maxwell | 500,000 | 4,265,667 |
Mr Russell Harvey | 500,000 | 500,000 |
Mr Louis Castro | 200,000 | 330,000 |
The Options, which, in the ordinary course, vest over three years, are exercisable at a price of 28.50 pence per share and expire 10 years from the date of issue.
For further information:
Eland Oil & Gas PLC | +44 (0) 207 016 3180 |
George Maxwell, CEO | |
Louis Castro, CFO | |
Edward Cozens, IR | |
Canaccord Genuity Limited | +44 (0) 207 523 8000 |
Henry Fitzgerald-O'Connor | |
Wei Loon Yap |