22 Nov 2013 07:43
22 November 2013
FORTUNE OIL PLC
("Fortune Oil" or "the Company")
Directors' shares vested in the EBT
On 20 June 2013 certain awards under the Company's long term incentive plan came to their third anniversary. On the third anniversary the beneficiary of the award has the right to exercise his or her option and receive delivery of the ordinary shares or carry them forward in the Company's Employee Benefit Trust (EBT). Tee Kiam Poon and Li Ching, two directors of the Company, were on this date unable to exercise their option as the Company was in a close period. The Company now being in an open period, they have decided to exercise their options.
The following table details the individual ordinary share interest movements as a result of these decisions made today.
Directors
| No. of shares vested in EBT | Performance Period 2009/2012
Exercise period | Decision |
TEE Kiam Poon | 1,199,580 | 13 October 2012 -12 October 2019
| Remove from the EBT and certificate in his name |
LI Ching
| 1,659,840 | 24 June 2012 - 23 June 2019 | Remove from the EBT and certificate in her name |
Performance Period 2010/2013
Exercise period | |||
TEE Kiam Poon | 834,784 | 18 June 2013 - 17 June 2020 | Remove from the EBT and certificate in his name |
LI Ching
| 662,088 | 18 June 2013 - 17 June 2020 | Remove from the EBT and certificate in her name |
Resulting interests in Ordinary Shares
Following these decisions and taking into account the effects of the decisions taken which will become effective when their names are recorded on to the Company's share register each relevant director now has the following interest in Ordinary Shares in the Company:
Number of ordinary shares held in the Company | Percentageof issued class | Number of shares vested fully and held in the EBT including additional shares, where applicable | Percentage of issued class held in EBT | Total number of unvested shares held in the EBT | Percentage of issued class held in EBT | |
Directors | ||||||
TEE Kiam Poon | 2,034,364 | 0.07% | 0 | 0 | 1,724,977 | 0.07% |
LI Ching | 23,091,152 | 0.89% | 0 | 0 | 2,183,585 | 0.84% |
Enquiries:
Fortune Oil PLC
Bill Mok, Chief Financial Officer Tel: 00 852 2583 3120 (Hong Kong)
Pelham Bell Pottinger
Archie Berens Tel: (+44/0) 7802 442486