Issue of options

RNS Number : 8567D

Petroneft Resources PLC

09 December 2009

 

9 December 2009

PetroNeft Resources plc

Issue of Options 

On 8 December 2009, options over ordinary shares of nominal value €0.01 ('Options') were awarded to directors of the Company in accordance with the Company's share option scheme. The exercise price of these options is the closing price of the ordinary shares of the Company on the AIM market of the London Stock Exchange on 8 December 2009 which was STG£0.1925. The options will only vest once certain time and total shareholder return conditions have been met. 

Director	Number of Options issued	Total number of Options held
David Golder	120,000	615,000
Dennis Francis	330,000	1,540,000
Paul Dowling	280,000	855,000
David Sanders	280,000	1,440,000
Thomas Hickey	100,000	453,000
Vakha Sobraliev	80,000	555,000
Total	1,190,000	5,458,000

Issue of Shares

As detailed in the 2008 annual report certain directors have elected to receive a portion of their 2008 and 2009 remuneration in shares. On 9 December 2009 shares were issued in respect of all periods up to 30 September 2009. 

Director	Number of shares issued	Total number of shares held	% of entire issued share capital
Dennis Francis	161,371	22,570,416	6.45%
Paul Dowling	144,531	192,531	0.06%
David Sanders	110,433	2,213,235	0.63%
Thomas Hickey	52,557	1,587,614	0.45%
Total	468,892	26,563,796

Application will be made to the London Stock Exchange and the Irish Stock Exchange for the above Shares to be admitted to trading on AIM and IEX, with Admission expected to occur on 15 December 2009.

For further information please contact:

Dennis Francis, CEO, PetroNeft Resources plc	[phone]
Paul Dowling, CFO, PetroNeft Resources plc	[phone]
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)	[phone]

 

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