Grant of Options

RNS Number : 8276D
Sound Oil PLC
29 March 2011
 

For immediate release

29 March 2011

 

Sound Oil PLC

("Sound Oil" or "the Company")

 

Grant of Options

 

The Company announces that on 28 March 2011 options over a total of 9,500,000 new ordinary shares of the Company were granted to the following directors (the "Options"), as part of the Company's share option programme for senior staff after the successful acquisition of Consul Oil & Gas.

The Options have an exercise price of 5.6 pence per share, approximating to the closing mid-market price of the Company's shares on 25 March 2011. The Options are exercisable for five years from the date of grant, after which the Options will lapse, and the exercise of the Options is not conditional.

 

Director

Position

Number of Options granted

Gerry Orbell

Chairman

7,500,000

Ilham Habibie

Non-executive director

1,000,000

Michael Nobbs

Non-executive director

1,000,000

 

 

In addition to the Options above, the above directors hold the below interests in the share capital of the Company. No other Options have been granted.

Director

Ordinary shares held

Ilham Habibie

147,288,696

Gerry Orbell

12,241,418

Michael Nobbs

1,945,545

 

 

For further information please contact:

Sound Oil

Gerald Orbell, Chief Executive

Tony Heath, Finance Director

 

Tel: +44 (0)1372 371010

Tel: +44 (0)1372 371010

 

 

Buchanan Communications

Tim Thompson

Ben Romney

Chris McMahon

                                                                       

Tel: +44 (0)207 466 5000

 

 

 

 

finnCap

Sarah Wharry

Henrik Persson

Tel:  +44 (0)207 600 1658

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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