24 Dec 2015 10:11
24 December 2015
Lekoil Limited
("Lekoil" or the "Company")
Award of Options
Lekoil (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company has made the following awards of options over ordinary shares of -par -value US$0.00005 each -in -the -capital- of the -Company to Directors under the Long Term Incentive Plan for the CEO and the Non-Executive Director Share Plan for the Non-Executive Directors:
Director | Position | Options granted | Existing options | Total options |
Olalekan Akinyanmi | Chief Executive Officer | 3,143,000 | 5,480,000 | 8,623,000 |
Samuel Adegboyega | Non-executive Chairman | 100,000 | 750,000 | 850,000 |
Gregory Eckersley | Non-executive Director | 100,000 | 1,162,500 | 1,262,500 |
Aisha Oyebode | Non-executive Director | 100,000 | 187,500 | 287,500 |
John Van Der Welle | Non-executive Director | 100,000 | 187,500 | 287,500 |
H. Adesola Oyinlola | Non-executive Director | 100,000 | - | 100,000 |
In 2013, some of the Non-Executive Directors were issued options with an exercise price of 49p in accordance with the Executive Stock Incentive Plan. The above award of options was to occur in June 2015, however the Company was in a close period at that time. All options issued under this award are being issued with an exercise price of 40p.
The Directors currently have the following interests in ordinary shares in addition to the options set out above:
Director | Position | Number of shares | % of issued share capital |
Olalekan Akinyanmi | Chief Executive Officer | 41,868,293 | 8.6% |
Samuel Adegboyega | Non-executive Chairman | 1,160,000 | 0.2% |
Gregory Eckersley | Non-executive Director | 2,848,050 | 0.6% |
Aisha Oyebode | Non-executive Director | 256,250 | 0.1% |
John Van Der Welle | Non-executive Director | - | - |
H. Adesola Oyinlola | Non-executive Director | 632,431 | 0.1% |
For further information, please visit www.lekoil.com or contact:
Lekoil Limited Hamilton Esi, Corporate Communications
| +44 20 7920 3150
|
Strand Hanson Limited (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer
| +44 20 7409 3494
|
BMO Capital Markets Limited (Joint Broker) Rupert Newall / Neil Haycock / Thomas Rider
| +44 20 7236 1010 |
Mirabaud Securities LLP (Joint Broker) Peter Krens / Edward Haig-Thomas
| +44 20 7878 3362 +44 20 7878 3447 |
Tavistock (Financial PR) Simon Hudson / Ed Portman / Merlin Marr-Johnson | +44 20 7920 3150
|
-ends-
LEK.L (LEK)