Amendment to Options

RNS Number : 7725W

Solo Oil Plc

24 November 2010

 

For Immediate Release

24 November 2010

Solo Oil plc

Amendment to Options previously issued

Further to the announcements on 24 June 2010 and 18 December 2009 in relation to the issue of 185 million options, the Board has decided, acting on the recommendation of the Remuneration Committee, to amend the exercise price relating to all these options. The exercise price relating to all of these options has been amended from 1p per share to 0.5p per share. This represents a premium of 30 per cent to the middle market price per Ordinary Share of 0.385p at the close of business on Monday 22 November 2010. All other terms relating to these options remains the same being that the options have a term of 3 years to 21 December 2012.

Solo Oil PLC David Lenigas / Kiran Morzaria		[phone]
Beaumont Cornish - Nominated Adviser Roland Cornish		[phone]

 

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