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Award of Options

19 Aug 2014 07:00

RNS Number : 4536P
Xcite Energy Limited
19 August 2014
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

 

TSX-V, LSE-AIM: XEL

 

 

19 August 2014

 

Xcite Energy Limited

("Xcite Energy" or the "Company")

 

Award of Options

 

Xcite Energy announces the award of an aggregate of 6,700,000 options to purchase ordinary shares of the Company to all members of the Xcite Energy Resources plc management team and staff, and to the Board of Directors.

 

The options were granted under the terms of the Company's Share Option Scheme by reference to the closing price on the TSX-V of the Company's ordinary shares on 18 August 2014 and vest immediately. This award is made in recognition of the substantial progress made in 2014 to re-finance the Company, the formation of the Bentley development partner group and the work to define and de-risk the costs and schedule for the field development plan.

 

All options have an exercise price of £0.64 (CAN$1.17) per ordinary share and carry a term of five years from the date of award.

 

Following these option awards, the Directors of the Company have the following aggregate number of ordinary shares under option:

 

Option award now being made

Aggregate ordinary shares under option

Timothy Jones

200,000

790,000

Gregory Moroney

100,000

690,000

Scott Cochlan

100,000

790,000

Henry Wilson

100,000

250,000

Stephen Kew

650,000

4,071,000

Rupert Cole

650,000

4,071,000

Andrew Fairclough

850,000

2,100,000

 

 

 

ENQUIRIES:

 

Xcite Energy Limited

 

 

+44 (0) 1483 549 063

Rupert Cole / Andrew Fairclough

Liberum (Joint Broker and Nomad)

+44 (0) 203 100 2222

Clayton Bush / Tim Graham

Morgan Stanley (Joint Broker)

+44 (0) 207 425 8000

Andrew Foster

Bell Pottinger

+44 (0) 207 861 3232

Mark Antelme / Henry Lerwill

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEDBGDICBBBGSI
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30th Dec 20132:05 pmRNSClosing of Re-financing of Unsecured Loan Notes
17th Dec 20137:00 amRNSRe-financing of Unsecured Loan Notes
4th Dec 20137:00 amRNSRe-filing of annual financial statements
29th Nov 20137:00 amRNSResults for 3 & 9 Month Periods Ended 30 September
23rd Aug 20137:00 amRNSResults for 3 & 6 Month Periods Ended 30 June 2013
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12th Jun 20137:00 amRNSMemorandum of Understanding with AMEC
31st May 20137:00 amRNSCancellation of Rowan Rig Option
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20th May 20137:00 amRNSBentley Well Data Sale
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13th Mar 20137:00 amRNSAdvance notice of Annual General Meeting ("AGM")
30th Jan 20137:00 amRNSExtension to Maturity Date of Unsecured 14% Loan
25th Jan 20137:00 amRNSExercise of Share Options
20th Dec 20127:00 amRNSAppointment of Adviser
14th Dec 20122:34 pmRNSMessage from the CEO
7th Dec 20127:00 amRNSExercise of Share Options
20th Nov 20122:30 pmRNSHoldings in Company
9th Nov 20128:26 amRNSReplacement: Results for the Periods Ended 30 Sep
9th Nov 20127:00 amRNSResults for the Periods Ended 30 September 2012
25th Oct 20122:48 pmRNSUK 27th Offshore Licensing Round Offers
15th Oct 20127:00 amRNSSuspension of 9/3b-7 & 7Z wells
20th Sep 20127:00 amRNSSuccessful Bentley Field Pre-Production Well Test
7th Sep 20127:00 amRNSSale of Bentley Crude Oil and Flow Test Update

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