Awarding of Restricted Stock

9 Mar 2006 08:51

Urals Energy Public Company Limited09 March 2006 Urals Energy Public Company Limited ('Urals Energy' or the 'Company') Petrosakh Exploration Drilling and Operational Update and Corporate Update Awards of Restricted Stock to Senior Managers and Directors Urals Energy announces that on 7 February 2006, the Remuneration Committeeconfirmed awards of restricted stock to certain senior managers and directors ofthe Company and its subsidiaries, as detailed in the table below: Director No. of SharesViatchislav V. Rovneiko 252,340William R. Thomas 229,185Leonid Y. Dyachenko 211,110Gueorgui N. Ramzaitsev 37,530Charles J. Pitman 37,530 In addition, a total of 794,030 shares have been awarded to six key officers ofthe Company. The awards of stock are fully restricted at the outset so that no recipient'shares are vested until the earliest of January 1, 2007, assuming the person isstill associated with the Company, and thereafter the vesting periods vary butgenerally are spread over three years. The awards were made pursuant to the authority granted to the RemunerationCommittee and in line with the stated intention to grant no more than 5% of thetotal outstanding shares of the Company pursuant to an incentive programme to beadopted by the Directors and the Remuneration Committee. 9 March 2006 Pelham PRJames Henderson 020 7743 6673Gavin Davis 020 7743 6677 This information is provided by RNS The company news service from the London Stock Exchange