Amendment to Prior Disclosure on Director Options

RNS Number : 3309Z

Lekoil Limited

31 August 2018

 

31 August 2018

Lekoil Limited

("LEKOIL" or the "Company")

Amendment to Prior Disclosure on Director Options

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces a correction to the number of existing options it reported as outstanding under the Long Term Incentive Plan for the CEO and CFO, and the Non-Executive Director Share Plan for the Non-Executive Directors, prior to the grant of new options, as announced on 9 August 2018.  The number of options granted remains unchanged:

Director	Position	Options granted (as per 9 August announcement)	Existing options (corrected figures)	Total options (corrected figures)
Olalekan Akinyanmi	Chief Executive Officer	2,500,000	13,723,000	16,223,000
Lisa Mitchell	Chief Financial Officer	1,500,000	1,500,000	3,000,000
Samuel Adegboyega	Non-executive Chairman	100,000	1,050,000	1,150,000
Aisha Oyebode	Non-executive Director	100,000	487,500	587,500
John Van Der Welle	Non-executive Director	100,000	487,500	587,500
Hezekiah Adesola Oyinlola	Non-executive Director	100,000	300,000	400,000
Gregory Eckersley	Non-executive Director	100,000	1,462,500	1,562,500
Tom Schmitt	Non-executive Director	100,000	-	100,000

The awards of options under the Long Term Incentive Plan for members of the senior management team that the Company has designated as persons discharging managerial responsibilities ("PDMRs") as previously announced, remain unchanged, as do all other figures reported in the 9 August 2018 announcement.

For further information, please visit www.lekoil.com or contact:

LEKOIL Limited Alfred Castaneda, Investor Relations Lisa Mitchell, Chief Financial Officer	[phone]
Strand Hanson Limited (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone] / [phone]
BMO Capital Markets (Joint Broker) Jeremy Low / Neil Haycock / Thomas Rider	[phone]
Numis Securities (Joint Broker) John Prior / Ben Stoop	[phone]
Tavistock (Financial PR) Simon Hudson / Barney Hayward / Charles Vivian	[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

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