15 Nov 2010 07:00
15 November 2010
Grant of Options to a Director under Sterling's Long Term Incentive Plan
Sterling Energy Plc ("Sterling" or the "Company") announces the following grant of options:
Upon his appointment as a non-executive director, and pursuant to the rules of the Non-executive Directors LTIP scheme approved by shareholders on 22 December 2009, Mr. Malcolm Pattinson has been granted 125,000 options over ordinary shares of 40p each in the Company ("Ordinary Shares") with an exercise price of 40p per Ordinary Share, for nil consideration.
Prior to this award Mr. Pattinson held an interest in 12,810 Ordinary Shares representing 0.01 per cent. of the issued share capital of the Company.
In total, there are 7,800,203 options over Ordinary Shares in issue representing 3.5% of the issued share capital of the Company.
For further information contact:
Sterling Energy Plc (+44 20 7405 4133)
Alastair Beardsall, Executive Chairman
Angus MacAskill, Chief Executive Officer
Web site: www.sterlingenergyplc.com
Evolution Securities (+44 20 7071 4300)
Rob Collins
Chris Sim