22 Oct 2010 16:00
22 October 2010
FORTUNE OIL PLC
("Fortune Oil" or "the Company")
Awards of shares in the Senior Executive Incentive Plan 2009 ("the Plan") to Director for performance period 1 June 2009 - 31 May 2010
The Board of Fortune Oil is pleased to announce that under the Company's Senior Executive Incentive Plan the Director/PDMR has today been awarded the conditional right to receive the following number of ordinary shares of 1p each ("Ordinary Shares") in the capital of the Company.
The right to receive these shares is conditional inter alia upon the individual remaining an employee of the Group for a period of at least two years from the date of this award.
The award requires no payment by the recipient. The award was made based upon the notional bonus awarded in October 2009 and a price of 8.10 pence per ordinary shares, which was the market price at close of business on 13 October 2010 the first anniversary of the original award.
Name No. of ordinary shares
TEE Kiam Poon (Director/PDMR) 1,199,580
These Ordinary Shares are currently held in the Company's Employee Benefit Trust (the "EBT" or "Trust") for Companies Act purposes, the Director of the Company is deemed to have a beneficial interest in shares held by the Trust. As a result, Mr Tee has the interest in shares in the Company:
| Director | No. of shares held in the Company | Percentage of issued class | No. of shares vested fully and held in the EBT | No. of shares unvested and held in the EBT | Total percentage of issued class |
| TEE Kiam Poon | 1,199,580 | 0.606% | Nil | 1,199,580 | 0.606% |
This notification is made in accordance with DTR 3.14R (1) of the Disclosure and Transparency Rules.
Enquiries:
Fortune Oil PLC
Tee Kiam Poon, Chief Executive Tel: 00 852 2583 3125 (Hong Kong)
Premal Shah, Chief Financial Officer Tel: 00 852 2583 3120 (Hong Kong)
Pelham Bell Pottinger
Archie Berens/Zoe Sanders Tel: 020 7861 3112
FTO.L (FTO)