Award of Options

RNS Number : 5379J

Lekoil Limited

29 June 2017

 

29 June 2017

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 CFO 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	2,500,000	11,223,000	13,723,000
Bruce Burrows	Chief Financial Officer	1,500,000	-	1,500,000
Samuel Adegboyega	Non-executive Chairman	100,000	950,000	1,050,000
Aisha Oyebode	Non-executive Director	100,000	387,500	487,500
John Van Der Welle	Non-executive Director	100,000	387,500	487,500
H. Adesola Oyinlola	Non-executive Director	100,000	200,000	300,000
Gregory Eckersley	Non-executive Director	100,000	1,362,500	1,462,500

All options issued under these awards are being issued with an exercise price of 15.92p, being the .

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	39,332,551	7.3
Bruce Burrows	Chief Financial Officer	-	-
Samuel Adegboyega	Non-executive Chairman	1,160,000	0.2
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
Gregory Eckersley	Non-executive Director	2,953,050	0.5

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)

Jeremy Low / Neil Haycock / Thomas Rider

[phone]

Tavistock (Financial PR)

Simon Hudson / Barney Hayward

[phone]

-ends-

 

END

 

 

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