Last checked at 26 Oct 2012 12:21
26 October 2012
Sound Oil plc
("Sound Oil" or "the Company")
Grant of Options
The Company announces that on 26 October 2012 options over a total of 13,000,000 new ordinary shares of the Company were granted to the following directors (the "Options"), following their new appointments:
Director | Position | Number of Options granted |
Andrew Hockey | Non-executive Chairman | 3,000,000 |
James Parsons | Chief Executive Officer | 10,000,000 |
The Options have an exercise price of 1.65 pence per share, approximating to 0.5 pence above the closing mid-market price of the Company's shares on 25 October 2012. One third of the Options are immediately exercisable, one third after twelve months and the final third after twenty-four months, with all Options lapsing after four years from the date of grant.
For further information please contact:
Sound Oil James Parsons, Chief Executive Officer
| j.parsons@soundoil.co.uk
|
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones
| Tel: +44 (0)20 7131 4000 |
Westhouse Securities - Broker Antonio Bossi Jonathan Haines
| Tel: +44 (0)20 7601 61005 |
Buchanan Tim Thompson Helen Chan Tom Hufton
| Tel: +44 (0)20 7466 5000
|