23 May 2014 10:00
Embargoed: 10.00a.m. 23 May 2014
Zoltav Resources Inc.
("Zoltav" or the "Company")
Amendment of Directors' Options
On 27 July 2012 Zoltav, the CIS focused oil and gas company, announced that share options had been awarded to certain directors of the Company, exercisable into new ordinary shares of US$0.01 in the Company at an exercise price equivalent to 20 pence per share. The Company announces that the expiration date of these share options has been extended from 30 October 2015 to 30 October 2017.
As at the date of this announcement the following share options have been granted to the Directors and are outstanding:
| Number of Ordinary Shares under option | Exercise Period | Exercise Price |
Name of Director |
|
|
|
Symon Drake-Brockman* | 1,250,000 | 31 October 2012 - 30 October 2017 | £0.20 |
Stephen Lowden | 500,000 | 31 October 2012 - 30 October 2017 | £0.20 |
*Symon Drake-Brockman's options are held by the trustee of the Boris Trust, of which Symon Drake-Brockman is the sole beneficiary.
Contacts:
Zoltav Resources Inc. | Tel. +44 (0)20 7016 9570 |
Symon Drake-Brockman, Executive Chairman | (via Vigo Communications) |
Shore Capital (Nomad and Broker) | Tel. +44 (0)20 7408 4090 |
Pascal Keane or Toby Gibbs (Corporate Finance) | |
Jerry Keen (Corporate Broking) | |
Vigo Communications | Tel. +44 (0)20 7016 9570 |
Patrick d'Ancona or Ben Simons | |
About Zoltav
Zoltav is an oil and gas exploration and development company building a portfolio of assets in the CIS. Zoltav has a 100 per cent. interest in the Koltogor Licence located in the Khantiy-Mansisk Autonomous Okrug of Western Siberia. The Koltogor Licence contains the Koltogor oil discovery with probable reserves of 73,531,000 barrels of oil. Zoltav is engaged in an appraisal programme of the Koltogor oil field with a view to developing the field for commercial oil production.
In parallel with its operations at Koltogor, Zoltav continues to review other oil and gas acquisition opportunities across the CIS, with a particular emphasis on the Russian Federation.
For further information on Zoltav or to sign up for the news alert service visit: www.zoltav.com