26 Jun 2008 16:20
26 June 2008
FORTUNE OIL PLC ("Fortune Oil"or the "Company")
Awards under Long Term Incentive Plan (LTIP) to Directors
The Board of Fortune Oil is pleased to announce that under the Company's LTIP the following Directors have today been awarded the conditional right to receive the following numbers of ordinary shares of 1p each ("Ordinary Shares") in the capital of the Company.
The right to receive these shares is conditional inter alia upon the individual remaining an employee of the Group for a period of at least two years from the date of this award.
The LTIP awards require no payment by the individual recipients.
Awards were made based upon the notional bonus awarded in June 2007 and a price of 11.75 pence per ordinary shares, which was the market price at close of business on 25 June 2008.
| Name | Number of Ordinary Shares | |
| 1. LI Ching | 311,925 | |
| 2. John PEXTON | 271,668 | |
| 3. GONG Min | 169,804 | |
| 4. TIAN Jun | 173,370 | |
| 5 YE Qing | 169,804 |
These Ordinary Shares are currently held in the Company's Employee Benefit Trust (the "Trust") for Companies Act purposes, the Directors of the Company are deemed to have a beneficial interest in shares held by the Trust.
Directors' shareholding
As a result of the above awards, the interests in shares of the following Directors in the Company have increased to the following:
| Name | Number of shares held in the Company | Percentage of issued class | Number of Shares unvested and held in the Trust from previous awards | Number of Shares unvested and held in the Trust from this award | Number of shares including unvested shares, held in the Trust | Total Percentage of issued class |
| 1. LI Ching | 18,983,775 | 1.034 % | 1,291,139 | 311,925 | 20,586,839 | 1.121% |
| 2. John PEXTON | 489,557 | 0.027% | 1,087,419 | 271,668 | 1,848,644 | 0.101% |
| 3. GONG Min | 57,466 | 0.003% | 507,228 | 169,804 | 734,498 | 0.040% |
| 4. TIAN Jun | 68,966 | 0.004% | 949,503 | 173,370 | 1,191,839 | 0.065% |
| 5. YE Qing | 57,466 | 0.003% | 507,228 | 169,804 | 734,498 | 0.040% |
These notifications are made in accordance with DTR 3.14R(1) of the Disclosure Rules and Transparency Rules.
Enquiries:
Fortune Oil PLC
John Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong)
Pelham Public Relations
Archie Berens Tel: 020 7743 6670 or 07802 442 486
Robert Koh Tel: 020 3170 7444