LTIP Conditional Share Awards

RNS Number : 7894E

Petro Matad Limited

14 February 2018

 

14 February 2018

Petro Matad Limited ("Petro Matad" or the "Company")

Awards of Conditional Share Awards

The Company notifies that on 13 February 2018 grants of 5,507,533 conditional share awards ("CSAs") under the Company's Long-Term Equity Incentive Plan ("LTIP") were approved to be made to certain Directors and employees. The CSAs have been granted as an element of Director compensation, as well as to partially compensate for the reductions in salaries and fees implemented by the Company in late 2016 as part of its strategy to preserve cash.

The CSAs will vest immediately and participants have until 13 February 2019 to exercise these awards for an exercise price of US$0.01 per Petro Matad ordinary share.  Awards have been made to the following Directors of the Company:

Director	Conditional Share Awards
Enkhmaa Davaanyam	500,000
Oyungerel Janchiv	77,284
Timothy Bushell	500,000
John Henriksen	500,000
Michael Buck	1,000,000

For more information, please contact:

Petro Matad Limited
Mike Buck, CEO	[phone] / [phone]
NOMAD and Joint Broker Stockdale Securities Limited	[phone]
Richard Johnson / El Hanan Lee
Joint Broker Stifel Nicolaus Europe Limited	[phone]
Callum Stewart/Nicholas Rhodes/Ashton Clanfield
Communications Advisory Firm FTI Consulting	[phone]
Edward Westropp

About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

 

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