Director/PDMR Shareholding

RNS Number : 5840C

Alkane Energy PLC

02 May 2012

 

2 May 2012

Alkane Energy plc

("Alkane" or "the Company")

Award of Performance Shares and Grant of SAYE Share Options

Alkane Energy plc announces that on 2 May 2012, performance shares were awarded under the Alkane Energy plc Employee Performance Share Plan and share options were granted under the Alkane Energy plc Sharesave Scheme, to the following directors:

	Share options and performance shares held prior to the award	Performance shares awarded under the Employee Performance Share Plan	Share options granted under the Sharesave Scheme	Share options and performance shares held after the award	Share options and performance shares held as % of issued share capital
Neil O'Brien, Chief Executive Officer	2,718,007	568,233	52,023	3,338,263	3.31%
Steve Goalby, Finance Director	862,678	445,300	52,023	1,360,001	1.35%

The performance share awards are in respect of ordinary shares of 0.5p each, with a subscription price of 0.5p per share, and are exercisable on 31 March 2015 subject to performance conditions.  The conditions are that a maximum of 50% of the award will vest if the Company's share price increases from a base of 22.5p to certain levels on the vesting date, and a maximum of 50% of the award will vest if the Company's adjusted profit per share increases from that reported in the year ended 31 December 2011 to certain levels in the year ended 31 December 2014.  In respect of both conditions shares will be vested in proportion to the level of achievement.

Under the Sharesave Scheme a total of 455,718 options over ordinary shares of 0.5p each were granted on 2 May 2012 with a contract start date of 1 June 2012. The maturity date under this grant is 1 June 2015, and the option price, which was set in accordance with HMRC rules for approved sharesave plans, is 17.3p. The allocation of share options was made available to all Group employees, and amounted to 0.45% of the Company's issued share capital.

Neil O'Brien's current shareholding is 749,000 ordinary shares of 0.5p each, representing approximately 0.74% of the existing issued share capital.

Steve Goalby's current shareholding is 700,717 ordinary shares of 0.5p each, representing approximately 0.69% of the existing issued share capital.

Enquiries:

Alkane Energy plc Neil O'Brien/Steve Goalby	Tel: [phone]
Altium Adrian Reed	Tel: [phone]

 

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