Grant of Options

RNS Number : 6537P

Sound Oil PLC

26 October 2012

 



26 October 2012

Sound Oil plc

("Sound Oil" or "the Company")

Grant of Options

The Company announces that on 26 October 2012 options over a total of 13,000,000 new ordinary shares of the Company were granted to the following directors (the "Options"), following their new appointments:

Director	Position	Number of Options granted
Andrew Hockey	Non-executive Chairman	3,000,000
James Parsons	Chief Executive Officer	10,000,000

The Options have an exercise price of 1.65 pence per share, approximating to 0.5 pence above the closing mid-market price of the Company's shares on 25 October 2012. One third of the Options are immediately exercisable, one third after twelve months and the final third after twenty-four months, with all Options lapsing after four years from the date of grant.

For further information please contact:

Sound Oil James Parsons, Chief Executive Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones	Tel: [phone]
Westhouse Securities - Broker Antonio Bossi Jonathan Haines	Tel: [phone]
Buchanan Tim Thompson Helen Chan Tom Hufton	Tel: [phone]

 

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