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19 May 2011 07:00
Lansdowne Oil & Gas plc
("Lansdowne" or the "Company")
Grant of share options
19 May 2011
Lansdowne announces that it has granted a total of 1,950,000 share options to directors as follows under the Company's unapproved share option plan (the "Plan"):
SAR Boldy | Chief Executive | 1,000,000 |
E Brown | Business Development Director | 400,000 |
CG Moar | Finance Director | 250,000 |
J Greenall | Chairman | 100,000 |
Viscount Torrington | Non Executive Director | 100,000 |
SR Bertram | Non Executive Director | 100,000 |
The options have an exercise price of 25p per share, a premium of 5.5p per share to the closing mid-market price on 18 May 2011, and may be exercised in whole or part between 19 May 2014 and 18 May 2021 provided that certain performance targets are met. These option grants (other than those granted to E Brown) are granted subject to certain minor amendments to the rules of the Plan being approved by shareholders at the Company's forthcoming Annual General Meeting to be convened for 14 June 2011.
Following these option grants, the total holdings of the directors concerned are as follows:
Ordinary Shares | % of Issued Share Capital |
Options | ||
SAR Boldy | 52,660 | 0.06 | 1,400,000 | |
E Brown | 3,743,768 | 4.59 | 800,000 | |
CG Moar | - | - | 350,000 | |
J Greenall | 85,380 | 0.10 | 100,000 | |
Viscount Torrington | 105,580 | 0.13 | 100,000 | |
SR Bertram | 141,314 | 0.17 | 100,000 |
For further information contact:
Lansdowne Oil & Gas plc +44 1224 748480
Chris Moar - Finance Director
finnCap +44 207 220 0567
Sarah Wharry - Corporate Finance
www.lansdowneoilandgas.com
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