NAUT.L Regulatory News (NAUT)

21 Feb 2008 09:41

Global Energy Development PLC21 February 2008 For Immediate Release 21 February 2008 GLOBAL ENERGY DEVELOPMENT PLC SHARE OPTION GRANT Global Energy Development PLC (the "Company") announces that on 11 February 2008(the "grant date") options over an aggregate of 825,000 ordinary shares of 1pence in the Company ("Ordinary Shares") were granted under the Company'sEmployee Share Option Scheme to Directors and senior management employees of theCompany as follows: Directors: Name Position Shares under option Mr. Mikel Faulkner Executive Chairman 150,000Mr. Stephen Voss Vice Chairman 50,000Lord Freeman Non-executive Director 50,000Mr. David Quint Non-executive Director 50,000Mr. Alan Henderson Non-executive Director 50,000 Senior Management: Name Position Shares under option Mr. Stephen Newton Managing Director 250,000Ms. Jennifer Hance Director of Finance 75,000Mr. Francisco Suarez Director of Exploitation 75,000Ms. Catherine Miles Company Secretary & 75,000 Head of Corporate Development The options were granted at nil cost to the option holder and each have anexercise price of 100.0 pence per share, this being greater than the averageclosing mid-market price per ordinary share for the five business days precedingthe grant date, which was 82.4 pence. In normal circumstances, the options vest over a period of three years, with onethird vesting on each of the first three anniversaries of the grant date andonce vested, the share options may be exercised until the tenth anniversary ofthe grant date. Following the grant of these options, the above named Directors and seniormanagers' interests in the share capital of the Company are as follows: Directors: Name Ordinary Shares Shares under option Mr. Mikel Faulkner 155,000 1,730,000Mr. Stephen Voss 24,349 1,040,000Lord Freeman 5,000 90,000Mr. David Quint 51,428 100,000Mr. Alan Henderson 9,421 130,000 Senior Management: Name Ordinary Shares Shares under option Mr. Stephen Newton - 250,000Ms. Jennifer Hance 880 275,000Mr. Francisco Suarez - 400,000Ms. Catherine Miles - 300,000 For further information Global Energy Development PLC + 44 (0)20 7763 7177Catherine Miles, Company Secretary www.globalenergyplc.com This information is provided by RNS The company news service from the London Stock Exchange