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19 Dec 2008 14:50
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For Immediate Release |
19 DecemberΒ 2008 |
GLOBAL ENERGY DEVELOPMENT PLC
SHARE OPTION GRANT
Global Energy DevelopmentΒ PLCΒ (the "Company") announces that onΒ 11 DecemberΒ 2008Β (the "GrantΒ Date")Β options overΒ 710,000 ordinary shares of 1 pence in the CompanyΒ ("Ordinary Shares")Β were grantedΒ under the Company's Employee Share Option SchemeΒ to Directors and senior management employees of the CompanyΒ (the "Grantees")Β as follows:
Directors:
|
Name |
Position |
Shares under optionΒ granted |
|
Mr.Β Mikel Faulkner |
Executive Chairman |
160,000 |
|
Mr. Stephen Voss |
Vice ChairmanΒ and Operations Director |
160,000 |
|
Lord FreemanΒ |
Non-executive Director |
50,000 |
|
Mr.Β David Quint |
Non-executive Director |
50,000 |
|
Mr.Β Alan Henderson |
Non-executive Director |
50,000 |
Senior Management:
|
Name |
Position |
Shares under optionΒ granted |
|
Mr.Β Elmer Johnston |
Compliance director |
80,000 |
|
Mr.Β Bruce Bottger |
Finance director |
80,000 |
|
Ms. Catherine Miles |
Company SecretaryΒ and Business Development director |
80,000 |
The options were granted at nil cost and each have an exercise price ofΒ 70Β pence, this beingΒ greater thanΒ the average closing mid-market price per ordinary share for the five business days preceding theΒ GrantΒ Date, which was 67.5 pence.
The options granted vest over a period of three years, with one third vesting on each anniversary of the grant. Once vested the share options may be exercised through to the tenth anniversary of theΒ GrantΒ Date unless theΒ Grantee ceases being an employee of the Company, in which instance the options expire two calendar years after the date the individual ceases to be an employee of the Company.
Following theΒ grant of these options,Β the Company hasΒ 5,285,196Β shares under option andΒ theΒ above named Directors'Β and senior managers'Β interests inΒ the share capital of the Company areΒ as follows:
Directors:
|
Name |
Ordinary Shares |
Shares under option |
|
Mr.Β Mikel Faulkner |
178,000 |
1,890,000 |
|
Mr. Stephen Voss |
24,349 |
1,200,000 |
|
Lord FreemanΒ |
5,000 |
140,000 |
|
Mr.Β David Quint |
47,428 |
150,000 |
|
Mr.Β Alan Henderson |
9,421 |
180,000 |
Senior Management:
|
Name |
Ordinary Shares |
Shares under optionΒ |
|
Mr.Β Elmer Johnston |
- |
290,196 |
|
Mr.Β Bruce Bottger |
- |
180,000 |
|
Ms. Catherine Miles |
- |
380,000 |
For further information
|
Global Energy Development PLC |
+ 44 (0)20 7763 7177 |
|
Catherine Miles, Company Secretary |
|
|
Teathers |
+ 44 (0)20 7426 9000 |
|
Tom Hulme |
|
|
Sebastian Jones |
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