Grant of Share Options

RNS Number : 6696S

Bahamas Petroleum Company PLC

26 September 2014

 



26 September 2014

Bahamas Petroleum Company plc

("Bahamas Petroleum", "BPC" or the "Company")

Grant of Share Options

Bahamas Petroleum, the oil and gas exploration company with offshore licence permits in The Commonwealth of The Bahamas, announces that, on 25 September 2014, the remuneration committee of the Company approved the grant of options over ordinary shares of 0.002 pence each in the share capital of the Company ("Ordinary Shares") to the Non-Executive Chairman of the Company (the "Options"), William ("Bill") Schrader, as follows:

Bill Schrader, a Non-Executive Chairman of the Company, has been awarded 2,000,000 share options.  The Options expire on 24 September 2019 and will become exercisable once the share price of the Company reaches 18.75 pence.  The Options are exercisable at a price of 7.4 pence.

Following the grant of options on 25 September 2014, Bill is interested in 250,000 Ordinary Shares and 2,000,000 Options. There are now in total 63,500,000 options over Ordinary Shares outstanding, representing 5.2% per cent of the shares currently in issue.

- Ends -

For further information, please contact:

Bahamas Petroleum Company plc Simon Potter, Chief Executive Officer	Tel: [phone]
Strand Hanson Limited - Nomad Rory Murphy / James Spinney	Tel: [phone]
FTI Consulting Edward Westropp / Alex Beagley / Shannon Brushe	Tel: [phone]

 

END

 

 

RDSQKPDDABKDNCB