Grant of Options

RNS Number : 1441W

Sterling Energy PLC

15 November 2010

 



15 November 2010

Grant of Options to a Director under Sterling's Long Term Incentive Plan

Sterling Energy Plc ("Sterling" or the "Company") announces the following grant of options:

Upon his appointment as a non-executive director, and pursuant to the rules of the Non-executive Directors LTIP scheme approved by shareholders on 22 December 2009, Mr. Malcolm Pattinson has been granted 125,000 options over ordinary shares of 40p each in the Company ("Ordinary Shares") with an exercise price of 40p per Ordinary Share, for nil consideration.

Prior to this award Mr. Pattinson held an interest in 12,810 Ordinary Shares representing 0.01 per cent. of the issued share capital of the Company.

In total, there are 7,800,203 options over Ordinary Shares in issue representing 3.5% of the issued share capital of the Company.

For further information contact:

Sterling Energy Plc ([phone])

Alastair Beardsall, Executive Chairman

Angus MacAskill, Chief Executive Officer

Web site: www.sterlingenergyplc.com

Evolution Securities ([phone])

Rob Collins

Chris Sim

 

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