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18 Dec 2009 17:10
๏ปฟ
18ย Decemberย 2009
Solo Oil Plc
("Solo" or "the Company")
Issue of Options
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Solo Oil Plc announces that it hasย issuedย options over a total ofย 185ย million new ordinary shares of 0.01pย eachย in the Companyย at anย exercise priceย of 1p per share (compared to the latest mid market price on AIM of 0.5 p). These optionsย will only vest if theย proposedย Likonde-1 well, which is the subject of the Company's recently announced farm-in,ย encountersย "hydrocarbons".ย The options will expire on 21 December 2012.
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The options for the Directors have been issued as follows:
|
Name
|
Options issued
|
Existing options
|
Ordinary shares
|
Total
|
% of issued share capital
|
|
D. Lenigas
|
75,000,000
|
2,500,000
|
2,850,000
|
80,350,000
|
3.86%
|
|
K. Morzaria
|
10,000,000
|
750,000
|
711,428
|
11,461,428
|
0.55%
|
|
S. Barblett
|
10,000,000
|
1,250,000
|
600,000
|
11,850,000
|
0.56%
|
|
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For further enquiries:
|
Solo Oilย PLC |
ย |
|
David Lenigas/Kiran Morzaria |
+44 (0) 20 7016 5100 |
|
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|
Beaumontย Cornish - Nominated Adviserย |
ย |
|
Rolandย Cornish |
+44 (0) 20 7628 3396 |
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