Last checked at 26 May 2017 14:18
UK Oil & Gas Investments PLC
("UKOG" or the "Company")
Grant of Stock Options to Directors, Employees and Consultants.
UK Oil & Gas Investments PLC (London AIM and NEX: UKOG) announces that it has granted incentive stock options to directors, employees and consultants of the Company. The stock options were granted on the 25 May 2017 over a total 120 million common shares representing 3.52% of the issued share capital of the Company at an exercise price of 1.15 pence representing an 25% premium to the closing price on 25 May 2017. Of the 120 miilion stock options 45 million were issued to contractors and consultants whom are currently engaged on the Broadford Bridge operations. The remaining stock options were issued to directors and senior management. The stocks options vest immediately and expire on the 24 May 2022. Following this award of options, the total number of shares under option to Directors and Management is 160,000,000 representing 4.69% of the Company's issued share capital.
The allocation of stock options to Persons Discharging Managerial Responsibilites was as follows:
Director | Position | New Options Issued | Total Options Held | Current Shareholding in UKOG | Current Shareholding as a percentage of Curent Issued Share Capital |
Stephen Sanderson | CEO & Director | 25,000,000 | 85,000,000 | - | - |
Matt Cartwright | COO | 20,000,000 | 40,000,000 | 500,000 | 0.01% |
Kiran Morzaira | Finance Director | 20,000,000 | 25,000,000 | 4,508,178 | 0.13% |
Allen Howard | Non-Executive Director | 10,000,000 | 10,000,000 | - | - |
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 243450
WH Ireland (Nominated Adviser and Broker)
James Joyce / James Bavister Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Nick Tulloch / Neil McDonald Tel: 0131 220 6939
Square 1 Consulting (Public Relations)
Brian Alexander / David Bick Tel: 020 7929 5599