Conversion of Aurelian Options

RNS Number : 5529A

San Leon Energy PLC

21 March 2013

 



21 March 2013

San Leon Energy PLC 

("San Leon" or "the Company")

Conversion of Aurelian options

San Leon announces that in connection with the recommended merger pursuant to which San Leon acquired Aurelian Oil & Gas plc ("Aurelian"), the Company has completed the process of exchange of the outstanding Aurelian options, which have been cancelled, into new San Leon options which have now been granted as follows:

Aurelian Scheme	No. of new San Leon options	Exercise prices	Vesting dates	Expiry dates
USOP	6,534,602	€0.05 - £0.473	8/12/11 - 1/1/14	7/12/13 - 1/1/16
STIP (2010)	78,282	€0.05	1/1/14	31/12/20
LTIP (2011)	11,414,931	£0.12	16/11/14	15/11/18
STIP (2011)	1,298,354	€0.05	16/11/14	15/11/18
LTIP (2012)	26,011,685	£0.0727	25/1/15	24/1/18
STIP (2012)	5,036,619	€0.05	7/12/15	6/12/18
Other options	1,460,106	£0.131 - £0.623	11/2/14 - 3/10/14	15/11/18

No new San Leon options were granted to Directors in this process, and the total number of San Leon options outstanding is now 164,849,549 (8.8% of existing issued shares). For reference, Directors' existing option holdings are now as follows:

Director	No. options	Date of grant	Expiry date	Exercise price	Vesting criteria
Oisin Fanning	2,500,000	5/2/9	4/2/16	£0.11
	5,000,000	26/7/10	25/7/10	£0.35	1
	250,000	30/12/10	29/12/17	£0.25
	3,500,000	14/2/11	13/2/18	£0.35	2
	250,000	15/11/11	14/11/18	£0.11
	2,750,000	15/11/11	14/11/18	£0.11
	5,500,000	15/11/11	14/11/18	€0.05	3
	3,500,000	21/3/12	20/3/19	£0.13
	5,500,000	7/7/12	6/7/19	€0.05	4
Paul Sullivan	2,000,000	5/2/9	4/2/16	£0.11
	5,000,000	26/7/10	25/7/10	£0.35	1
	250,000	30/12/10	29/12/17	£0.25
	2,500,000	14/2/11	13/2/18	£0.35	2
	250,000	15/11/11	14/11/18	£0.11
	2,750,000	15/11/11	14/11/18	£0.11
	4,000,000	15/11/11	14/11/18	€0.05	3
	3,000,000	21/3/12	20/3/19	£0.13
	4,000,000	7/7/12	6/7/19	€0.05	4
John Buggenhagen	1,000,000	Pre-appointment	4/2/16	£0.11
	1,000,000	Pre-appointment	4/2/17	£0.11
	1,000,000	Pre-appointment	4/2/18	£0.11
	5,000,000	Pre-appointment	25/7/17	£0.17
	250,000	30/12/10	29/12/17	£0.25
	2,000,000	14/2/11	13/2/18	£0.35	2
	250,000	15/11/11	14/11/18	£0.11
	4,000,000	15/11/11	14/11/18	€0.05	3
	2,500,000	21/3/12	20/3/19	£0.13
	4,000,000	7/7/12	6/7/19	€0.05	4
Raymond King	1,000,000	Pre-Admission	22/9/15	€0.05
	1,000,000	5/2/9	4/2/16	£0.11
	250,000	30/12/10	29/12/17	£0.25
	250,000	15/11/11	14/11/18	£0.11
	1,500,000	21/3/12	20/3/19	£0.13
Daniel Martin	1,000,000	Pre-appointment	25/7/17	£0.17
	250,000	30/12/10	29/12/17	£0.25
	250,000	15/11/11	14/11/18	£0.11
Jeremy Boak	1,000,000	Pre-appointment	6/7/15	£0.11
	500,000	5/2/9	4/2/16	£0.11
	250,000	30/12/10	29/12/17	£0.25
	250,000	15/11/11	14/11/18	£0.11
Con Casey	None

Vesting criteria:

1.         Share price to exceed 100p for 30 days

2.         Share price to exceed  120p for 30 days

3.         Achieve production target of 500 barrels of oil equivalent/day

4.         Achieve production target of greater than 501 barrels of oil equivalent/day

For further information contact:

San Leon Energy Plc	Tel: [phone]
Oisin Fanning, Executive Chairman
John Buggenhagen, Exploration Director
Westhouse Securities (Nominated Advisor)	Tel: [phone]
Richard Johnson
Antonio Bossi
Macquarie Capital (Europe) Limited	Tel: [phone]
John Dwyer
Fox Davies Capital	Tel: [phone]
Daniel Fox-Davies
Richard Hail
FirstEnergy Capital LLP	Tel: [phone]
Hugh R. Sanderson
David van Erp
College Hill Associates	Tel: [phone]
David Simonson
Rupert Trefgarne
Alexandra Roper

www.sanleonenergy.com

 

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