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30 Oct 2014 07:10
AIM: NTOG
30 October 2014
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Grant of Performance-Related Options
On 29 October 2014, the Board of Nostra Terra, the AIM quoted oil and gas company with a growing portfolio of assets in production and development in the USA, agreed, in accordance with the Company's ongoing director incentivisation scheme, to award 90,000,000 performance-related options ("Options") to the Directors.
The total numbers of Options granted to each of Matt Lofgran (Chief Executive Officer), Alden McCall (Chief Operating Officer) and Stephen Oakes (Non-Executive Director), together with the vesting conditions, are as follows:
No. of Options granted and vesting conditions | Total number of Options granted | |||
(A) | (B) | (C) | ||
Matt Lofgran | 15,000,000 | 10,000,000 | 15,000,000 | 40,000,000 |
Alden McCall | 15,000,000 | 10,000,000 | 15,000,000 | 40,000,000 |
Stephen Oakes | 3,750,000 | 2,500,000 | 3,750,000 | 10,000,000 |
The Options granted pursuant to vesting condition:
(A) shall vest immediately upon grant;
(B) shall vest subject to certain performance criteria relating to the spudding of a well on the Company's White Buffalo project; and
(C) shall vest subject to the Company's mid-market share price closing at 1.0p or above for a minimum of ten consecutive business days.
All of the Options are exercisable at 0.4 pence per share and, subject to the attaching vesting conditions, are exercisable for a ten year period from the date of grant.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc
Matt Lofgran, CEO
mlofgran@ntog.co.uk Telephone: +1 480 993 8933
Northland Capital Partners Ltd
(Nominated Adviser)
Matthew Johnson / Lauren Kettle Telephone: +44 (0)20 7382 1100
Hume Capital Securities plc
(Broker)
Jon Belliss / Abigail Wayne Telephone: +44 (0)20 3693 1470
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7620
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