Issue of Shares and Options

RNS Number : 5585Y

Petroneft Resources PLC

23 December 2010

 



PetroNeft Resources plc

Issue of Shares

As detailed in the 2009 annual report certain directors have elected to receive a portion of their remuneration in shares. On 23 December 2010 shares were issued to the following directors in respect of each of the four quarters ending 30 September 2010.

Director	Number of shares issued	Total number of shares held	% of entire issued share capital
Paul Dowling	14,052	206,583	0.05%
Thomas Hickey	28,669	1,726,283	0.42%
Total	42,721

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 5 January 2011.

Issue of Options

On 15 December 2010, 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 14 December 2010 which was STG£0.66. The options will only vest once certain time and total shareholder return conditions have been met. The earliest any of the options can vest is 15 December 2012.

Director	Number of Options issued	Total number of Options held
David Golder	120,000	735,000
Dennis Francis	330,000	1,870,000
Paul Dowling	280,000	1,135,000
David Sanders	280,000	1,720,000
Gerard Fagan	150,000	150,000
Thomas Hickey	100,000	443,000
Vakha Sobraliev	80,000	635,000
Total	1,190,000	5,458,000

For further information please contact:

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

 

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