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Pin to quick picksPetro Matad Regulatory News (MATD)

Share Price Information for Petro Matad (MATD)

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Directors' Dealing

21 Jul 2015 07:00

RNS Number : 5744T
Petro Matad Limited
21 July 2015
 

 

21 July 2015

 

Petro Matad Limited

("Petro Matad" or the "Company")

 

Directors' Dealing

Further to the Company's announcement of 7 May 2014, the current non-executive directors of Petro Matad Limited, the AIM quoted Mongolian oil explorer, have again agreed that for the six months from 1 October 2014 to 31 March 2015, a period when the Company was significantly cash constrained, they have continued to forego their usual director fees and in lieu of cash will receive conditional share awards under the Company's existing long term equity plan, thus creating further savings for the Company. The delay in award of the conditional share awards until the current time is as a result of the Company being in successive closed periods since October 2014. Following completion of the Company's farm-out to BG Group plc, the non-executive directors will be paid their directors' fees from 1 April 2015 onwards.

 

The conditional share awards vest immediately and participants have until 31 March 2016 to exercise these awards for an exercise price of US$0.01 per Petro Matad ordinary share. An aggregate of 1,993,520 conditional share awards were awarded to the non-executive directors of the Company on 20 July 2015, as set out below.

 

 

 

Director

Number of Conditional Share Awards awarded in lieu of fees

Oyungerel Janchiv

498,380

Enkhmaa Davaanyam

498.380

Philip Vingoe

498.380

Ridvan Karpuz

498.380

 

 

 

About Petro Matad Limited

 

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

 

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

 

 

Further Information:

 

Petro Matad Limited

John Henriksen, CFO

+976 11 331099

 

NOMAD and Broker

Westhouse Securities Limited

Alastair Stratton / Martin Davison

+44 (0)20 7601 6100

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSSEUFASFISEEW
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