Last checked at 24 Mar 2016 15:01
24 March 2016
Sound Energy plc
("Sound Energy" or the "Company")
Issue of Options and Director's Dealing
Sound Energy, the European/Mediterranean focused upstream gas company, announces that on 23 March 2016 it issued of a total of 9,050,000 options to subscribe for new ordinary shares in the Company at a price of 16 pence per ordinary share (the "Options").
The Options will vest on 23 March 2019 and will be exercisable thereafter at any time until 23 March 2021. The Options will vest subject to the pre-determined performance criteria that if the price per ordinary share in the Company increases over the three-year vesting period by 15%, 10%, or 5% on a compounded annualised basis then all, two-thirds, or one-third of the Options respectively will vest.
James Parsons, the Company's Chief Executive Officer and a director of the Company, has been issued with 3,000,000 of the Options.
For further information please contact:
Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon Alexandra Roper
| Tel: +44 (0)20 7830 9700 |
Sound Energy James Parsons, Chief Executive Officer
| j.parsons@soundenergyplc.com
|
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes
| Tel: +44 (0)20 7131 4000 |
Cantor Fitzgerald Europe - Broker Sarah Wharry David Porter
| Tel: +44 (0)20 7894 8896 |