Share Option Grant

26 Jun 2007 11:46

Global Energy Development PLC26 June 2007 For Immediate Release 26 June 2007 GLOBAL ENERGY DEVELOPMENT PLC SHARE OPTION GRANT Global Energy Development PLC (the "Company") announces that on 13 June 2007(the "grant date") under the Company's Share Option Scheme an aggregate of200,000 options to subscribe for ordinary shares of 1 pence in the Company ("Ordinary Shares") were granted to three senior management employees of theCompany as follows: Name Position Options granted Ms. Jennifer Hance director of Finance 50,000Ms. Catherine Miles Company Secretary & 50,000 Head of Corporate DevelopmentMr. Francisco Suarez director of Exploitation 100,000 The options were granted at nil cost and each have an exercise price of 85.7pence, this being equal to the average closing mid-market price per ordinaryshare for the five business days preceding the grant date. The options granted vest over a period of three years, with one third vesting oneach anniversary of the grant. Once vested the share options may be exercisedthrough to the tenth anniversary of the grant date unless the grantee ceasesbeing an employee of the Company, in which instance the options expire twocalendar years after the date the individual ceases to be an employee of theCompany. Following the grant of these options, the above named senior managementemployees' interests in the share capital of the Company is as follows: Name Ordinary Shares Options Ms. Jennifer Hance 880 200,000Ms. Catherine Miles - 225,000Mr. Francisco Suarez - 325,000 This notification is made in accordance with DR 3.1.4R(1)(a) of the DisclosureRules. For further information Global Energy Development PLC + 44 (0)20 7763 7177Catherine Miles, Company Secretarywww.globalenergyplc.com This information is provided by RNS The company news service from the London Stock Exchange