16 Jul 2008 09:44
| For Immediate Release | 16 July 2008 |
GLOBAL ENERGY DEVELOPMENT PLC
SHARE OPTION GRANT
Global Energy Development PLC (the "Company") announces that on 15 July 2008 (the "grant date") options over 100,000 ordinary shares of 1 pence in the Company ("Ordinary Shares") were granted under the Company's Employee Share Option Scheme to Bruce Bottger, a senior management employee who holds the position of director of Finance.
The options were granted at nil cost and each have an exercise price of 113.3 pence, this being equal to the average closing mid-market price per ordinary share for the five business days preceding the grant date.
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 the grant date unless the 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 the grant of these options, Bruce Bottger's interests in the share capital of the Company is as follows:
| Name | Ordinary Shares | Shares under option |
| Mr. Bruce Bottger | - | 100,000 |
For further information
| Global Energy Development PLC | + 44 (0)20 7763 7177 |
| Catherine Miles, Company Secretary | www.globalenergyplc.com |