Holding(s) in Company

RNS Number : 3278O

Alkane Energy PLC

15 September 2011

 



15 September 2011

Alkane Energy plc

("Alkane" or "the Company")

Award of Performance Shares

Alkane Energy plc announces that on 15 September 2011 performance shares were awarded under the Alkane Energy plc Employee Performance Share Plan to the following directors:

	Share options holding prior to the award	Performance shares awarded	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	2,097,382	620,625	2,718,007	2.73%
Steve Goalby, Finance Director	376,303	486,375	862,678	0.87%

The 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 2014 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 20p 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 2010 to certain levels in the year ended 31 December 2013.  In respect of both conditions shares will be vested in proportion to the level of achievement.

Neil O'Brien's current shareholding is 749,000 ordinary shares of 0.5p each, representing approximately 0.75% of the existing issued share capital.

Steve Goalby's current shareholding is 700,717 ordinary shares of 0.5p each, representing approximately 0.70% of the existing issued share capital.

Enquiries:

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

 

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