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: [phone] Tel: [phone]
Buchanan Communications Tim Thompson Ben Romney Chris McMahon	Tel: [phone]
finnCap Sarah Wharry Henrik Persson	Tel:  [phone]

 

END

 

 

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