Award of Options

RNS Number : 2602R

Lekoil Limited

08 December 2016

 

8 December 2016

Lekoil Limited

("Lekoil" or the "Company")

Award of Options

Lekoil (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company has made the following awards of options over ordinary shares of par value US$0.00005 each in the capital of the Company to Directors under the Long Term Incentive Plan for the CEO and the Non-Executive Director Share Plan for the Non-Executive Directors, which were approved by shareholders at the Company's AGM held on 8 August 2016:

Director	Position	Options granted	Existing options	Total options
Olalekan Akinyanmi	Chief Executive Officer	2,600,000	8,623,000	11,223,000
Samuel Adegboyega	Non-executive Chairman	100,000	850,000	950,000
Gregory Eckersley	Non-executive Director	100,000	1,262,500	1,362,500
Aisha Oyebode	Non-executive Director	100,000	287,500	387,500
John Van Der Welle	Non-executive Director	100,000	287,500	387,500
H. Adesola Oyinlola	Non-executive Director	100,000	100,000	200,000

All options issued under this award are being issued with an exercise price of 21.13p. 

The Directors currently have the following interests in ordinary shares in addition to the options set out above:

Director	Position	Number of shares	% of issued share capital
Olalekan Akinyanmi	Chief Executive Officer	41,868,293	8.6%
Samuel Adegboyega	Non-executive Chairman	1,160,000	0.2%
Gregory Eckersley	Non-executive Director	2,903,050	0.5%
Aisha Oyebode	Non-executive Director	256,250	0.1%
John Van Der Welle	Non-executive Director	-	-%
H. Adesola Oyinlola	Non-executive Director	632,431	0.1%

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

LEKOIL Limited Alfred Castaneda, Investor Relations Hamilton Esi, Corporate Communications	[phone] [phone]
Strand Hanson Limited (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer	[phone]
Mirabaud Securities LLP (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone] / [phone]
BMO Capital Markets (Joint Broker) Vicary Gibbs / Neil Haycock / Thomas Rider	[phone]
Tavistock (Financial PR) Simon Hudson / Barney Hayward / Merlin Marr-Johnson	[phone]

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