Award of Share Options

RNS Number : 1172Q

Nostra Terra Oil & Gas Company PLC

04 June 2018

 

4 June 2018

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Award of Share Options

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company, is pleased to announce an award of share options  to certain directors, employees and consultants over ordinary shares in the Company of 0.1 pence each ("Ordinary Shares"). The award has been designed to only reward improved share price performance over the short and long term.

Accordingly, the Board has approved the grant of an additional 11,500,000 new share options over Ordinary Shares ("New Share Options") with an exercise price of 5 pence ("Exercise Price"). The Exercise Price of the New Share Options represents a 30 per cent. premium to the closing mid-market price of an Ordinary Share on 1 June 2018.  

The New Share Options for the Board will only vest once the share price reaches 8 pence per Ordinary Share for 10 consecutive trading days, a 108 per cent premium to the closing mid-market price of an Ordinary Share on 1 June 2018. The New Share Options for employees and consultants will vest one year from the date of the award.

Details of the share options awarded to the Board (the "Director Options") are set out below:

Ewen Ainsworth (Non-Executive Chairman)                           2,000,000

Matt Lofgran (CEO)                                                                 6,000,000

John Stafford (Non-Executive Director)                                  1,500,000

Following the issue of the Director Options, Ewen Ainsworth, Matt Lofgran, and John Stafford, are interested in 4,000,000 options, 12,800,000 options, and 2,250,000 share options over Ordinary Shares, respectively. In addition, as previously disclosed, Mr Ainsworth is interested in 1,000,000 warrants exercisable at 8.77 pence per Ordinary Share (as adjusted for the 2016 share consolidation). Of these warrants 333,333 are held directly and 666,667 are held by Discovery Energy Limited, a company controlled by Mr Ainsworth.

Matt Lofgran and Ewen Ainsworth have interests in the Company of 5,975,976 Ordinary Shares and 3,079,267 Ordinary Shares (921,886 of which are held by Mr Ainsworth directly and 2,157,381 by Discovery Energy Limited), respectively.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO			[phone]
Strand Hanson Limited (Nominated Adviser and Joint Broker)			[phone]
Rory Murphy / Ritchie Balmer / Jack Botros
Smaller Company Capital Limited (Joint Broker)			[phone]
Rupert Williams / Jeremy Woodgate

 

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