Grant of Options

RNS Number : 6620V

Nostra Terra Oil & Gas Company PLC

30 October 2014

 



AIM: NTOG

30 October 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Grant of Performance-Related Options

On 29 October 2014, the Board of Nostra Terra, the AIM quoted oil and gas company with a growing portfolio of assets in production and development in the USA, agreed, in accordance with the Company's ongoing director incentivisation scheme, to award 90,000,000 performance-related options ("Options") to the Directors.

The total numbers of Options granted to each of Matt Lofgran (Chief Executive Officer), Alden McCall (Chief Operating Officer) and Stephen Oakes (Non-Executive Director), together with the vesting conditions, are as follows:

	No. of Options granted and vesting conditions			Total number of Options granted
	(A)	(B)	(C)
Matt Lofgran	15,000,000	10,000,000	15,000,000	40,000,000
Alden McCall	15,000,000	10,000,000	15,000,000	40,000,000
Stephen Oakes	3,750,000	2,500,000	3,750,000	10,000,000

The Options granted pursuant to vesting condition:

(A)       shall vest immediately upon grant;

(B)       shall vest subject to certain performance criteria relating to the spudding of a well on the Company's White Buffalo project; and

(C)       shall vest subject to the Company's mid-market share price closing at 1.0p or above for a minimum of ten consecutive business days.

All of the Options are exercisable at 0.4 pence per share and, subject to the attaching vesting conditions, are exercisable for a ten year period from the date of grant.

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

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                         Telephone: [phone]

Northland Capital Partners Ltd

(Nominated Adviser) 

Matthew Johnson / Lauren Kettle                         Telephone: [phone]

Hume Capital Securities plc

(Broker)                             

Jon Belliss / Abigail Wayne                                Telephone: [phone]

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                         Telephone: [phone]

 

END

 

 

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