9 Dec 2009 14:47
9 December 2009
PetroNeft Resources plc
Issue of Options
On 8 December 2009, options over ordinary shares of nominal value €0.01 ('Options') were awarded to directors of the Company in accordance with the Company's share option scheme. The exercise price of these options is the closing price of the ordinary shares of the Company on the AIM market of the London Stock Exchange on 8 December 2009 which was STG£0.1925. The options will only vest once certain time and total shareholder return conditions have been met.
| Director | Number of Options issued | Total number of Options held |
| David Golder | 120,000 | 615,000 |
| Dennis Francis | 330,000 | 1,540,000 |
| Paul Dowling | 280,000 | 855,000 |
| David Sanders | 280,000 | 1,440,000 |
| Thomas Hickey | 100,000 | 453,000 |
| Vakha Sobraliev | 80,000 | 555,000 |
| Total | 1,190,000 | 5,458,000 |
Issue of Shares
As detailed in the 2008 annual report certain directors have elected to receive a portion of their 2008 and 2009 remuneration in shares. On 9 December 2009 shares were issued in respect of all periods up to 30 September 2009.
| Director | Number of shares issued | Total number of shares held | % of entire issued share capital |
| Dennis Francis | 161,371 | 22,570,416 | 6.45% |
| Paul Dowling | 144,531 | 192,531 | 0.06% |
| David Sanders | 110,433 | 2,213,235 | 0.63% |
| Thomas Hickey | 52,557 | 1,587,614 | 0.45% |
| Total | 468,892 | 26,563,796 |
Application will be made to the London Stock Exchange and the Irish Stock Exchange for the above Shares to be admitted to trading on AIM and IEX, with Admission expected to occur on 15 December 2009.
For further information please contact:
| Dennis Francis, CEO, PetroNeft Resources plc | +353 1 443 3720 |
| Paul Dowling, CFO, PetroNeft Resources plc | +353 1 443 3720 |
| John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker) | +353 1 679 6363 |