Issue of Options

RNS Number : 4177S

Petroneft Resources PLC

30 November 2012

 

PetroNeft Resources plc (the "Company")

Issue of Options

On 29 November 2012, options over ordinary shares of nominal value €0.01 ('Options') were awarded to directors of the Company in accordance with the Company's share option scheme. The exercise price of these options is 6.5p per share. The options will vest 33.3% on the first, second and third anniversary of the grant of Award, subject to a vesting criterion of the common shares trading at or above 8.5p for a 10 day period. The earliest any of the options can vest is 29 November 2013.

Director	Number of Options issued		Total number of Options held
David Golder		130,000		865,000
Dennis Francis		475,000		2,345,000
Paul Dowling		406,250		1,541,250
David Sanders		406,250		1,246,250
Gerard Fagan		110,000		260,000
Thomas Hickey		110,000		553,000
Vakha Sobraliev		110,000		765,000
Total		1,747,500		7,575,500

For further information please contact:

Paul Dowling, CFO, PetroNeft Resources plc	[phone]
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)	[phone]

 

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