12 Oct 2012 11:30
FORTUNE OIL PLC
("Fortune Oil" or "the Company")
Vesting of shares in the Senior Executive Incentive Plan (the "Plan") for the performance period 1 June 2009 - 31 May 2010 following the third anniversary of the grant in October 2009
Mr TEE Kiam Poon, a director of the Company, was awarded in October 2010 a no cost option over 1,199,580 ordinary shares in the Plan, subject to the Company's Long Term Incentive Plan Rules, after the one year personal performance period (1 June 2009 - 31 May 2010) based on the notional bonus granted in October 2009.
The award vests on Saturday, 13 October 2012, being 3 years following the date of the grant of the notional bonus and becomes capable of exercise without condition. The ordinary shares over which the option is exercisable are currently held in the Company's Employee Benefit Trust and the option has an exercise period as below.
Director | No. of shares | Exercise period |
TEE Kiam Poon | 1,199,580 | 13 October 2012 - 12 October 2019 |
The resulting interest in ordinary shares in the Company is:
| Number of shares held in the Company
| Percentage of issued class | Number of Shares vested fully and held in the EBT | Percentage of issued class held in EBT | Number of Shares unvested and held in the EBT | Total number of unvested Shares held in the EBT | Percentage of issued class held in EBT |
TEE Kiam Poon | 0 | 0 | 1,199,580 | 0.06% | 1,854,374 | 1,854,374 | 0.093% |
This notification is made in accordance with DTR 3.14R(1) (c) of the Disclosure and Transparency Rules.
Enquiries:
Fortune Oil PLC | |
Tee Kiam Poon, Chief Executive | Tel: 00 852 2583 3125 (Hong Kong) |
Bill Mok, Chief Financial Officer | Tel: 00 852 2583 3120 |
Pelham Bell Pottinger | |
Archie Berens | Tel: 020 7861 3112 |
FTO.L (FTO)