Star Energy Regulatory News (STAR)

3 Apr 2007 17:24

Star Energy Group PLC03 April 2007 3 April 2007 STAR ENERGY GROUP PLC GRANT OF SHARE AWARDS On 23 September 2005, the Company established the Star Energy Performance SharePlan (the "Plan"), with the first award under the Plan made on 11 October 2005.On 3 April 2007, the Remuneration Committee made awards under the Plan overordinary shares in the Company to the following executive directors (therelevant percentages of the Company's issued share capital are given in bracketsbehind the relevant figures): Name This award Total awarded under the Plan Roland Wessel 154,174 (0.17%) 290,042 (0.31%)Colin Judd 87,843 (0.09%) 166,167 (0.18%)Melvyn Horgan 70,991 (0.08%) 138,126 (0.15%)Adrian Fernando 66,689 (0.07%) 129,987 (0.14%)Roger Pearson 66,689 (0.07%) 129,987 (0.14%)Total 446,386 (0.48%) 854,309 (0.92%) Under the terms of the Plan, the number of shares awarded to a participant isdivided into two equal numbers of shares, First Tranche shares and SecondTranche shares respectively. For awards made on 3 April 2007, First Tranche shares can vest at the end of athree year performance period commencing on 1 April 2007. If the Company'stotal shareholder return is in the top quartile of companies in the FTSE SmallCap Index, the full number of First Tranche shares will be received. Forperformance between median and upper quartile, vesting will occur on astraight-line basis so that 25% of the First Tranche shares are received formedian performance and full vesting occurs for top quartile performance. Noshares will be received if the Company's total shareholder return is below themedian in that index. Receipt of the Second Tranche shares will be subject to the same conditionsother than that performance will be measured over a four year period beginningon 1 April 2007, and no shares can be received until the end of that period. Awards will normally be forfeited if the recipient leaves Group employmentbefore vesting. In addition, 103,564 shares were also awarded on 3 April 2007 under the Plan toother key managers on the same terms with the result that a total of 549,950shares (0.59%) were placed under award to all participants on 3 April 2007.Total awards under the Plan as at 3 April 2007 are 1,060,694 (1.14%). Shares are intended to be acquired by the Company's employee benefit trust bysubscription (using funding provided or procured by the Company) as and whenshares are to be transferred to participants. Bedell Trustees Limited, thetrustee of the Company's employee benefit trust, will shortly be granted anoption to acquire sufficient shares by subscription so as to be able to satisfythe awards made under the Plan from time to time. - Ends - Enquiries: Star Energy Group plc Stephen Gutteridge - ChairmanTel: 020 7782 8504 David Wertheim - Remuneration, Committee ChairmanTel: 01829 730037 Colin Judd - Finance DirectorTel: 020 7925 2121 FD Ben BrewertonTel: 020 7269 7279 This information is provided by RNS The company news service from the London Stock Exchange