1 Jun 2012 07:00
Lansdowne Oil & Gas plc
("Lansdowne" or the "Company")
Grant of share options
1 June 2012
Lansdowne announces that it has granted a total of 1,090,000 share options to directors as follows under the Company's unapproved share option plan (the "Plan"):
SAR Boldy | Chief Executive | 600,000 |
E Brown | Business Development Director | 240,000 |
CG Moar | Finance Director | 50,000 |
J Greenall | Chairman | 50,000 |
SG Lampe | Non Executive Director | 50,000 |
Viscount Torrington | Non Executive Director | 50,000 |
SR Bertram | Non Executive Director | 50,000 |
The options have an exercise price of 36.5 p per share, being the closing mid-market price on 31 May 2012, and may be exercised in whole or part between 1 June 2015 and 31 May 2022 provided that certain performance targets are met. These option grants (other than those granted to SAR Boldy and E Brown) are granted subject to requisite authority being approved by shareholders at the Company's forthcoming Annual General Meeting convened for 26 June 2012.
Following these option grants, the total holdings of the directors concerned are as follows:
Ordinary Shares | % of Issued Share Capital |
Options | ||
SAR Boldy | 52,660 | 0.04 | 1,600,000 | |
E Brown | 3,743,768 | 3.06 | 640,000 | |
CG Moar | - | - | 300,000 | |
J Greenall | 85,380 | 0.07 | 150,000 | |
SG Lampe* | 36,401,552 | 29.75 | 50,000 | |
Viscount Torrington | 105,580 | 0.09 | 150,000 | |
SR Bertram | 141,314 | 0.12 | 150,000 |
*SG Lampe has a non-beneficial interest in shares held by LC Capital Master Fund Limited and Lampe Conway and Co. LLC. S Lampe is managing member of Lampe Conway & Co. LLC, the investment manager of LC Capital Master Fund Limited.
For further information contact:
Lansdowne Oil & Gas plc +44 1224 748480
Chris Moar - Finance Director
finnCap +44 207 220 0567
Sarah Wharry - Corporate Finance
www.lansdowneoilandgas.com
Lansdowne Oil (LOGP)