Share Incentive Plan and Total Voting Rights

RNS Number : 2781B

Rockhopper Exploration plc

28 February 2014

 



Date: 28 February 2014

Rockhopper Exploration plc ("Rockhopper" or the "Company")

Share Incentive Plan and Total Voting Rights

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, provides the following update regarding the Company's Share Incentive Plan ("SIP"), including the participation of certain directors.

Share Incentive Plan

The Trustee of the Rockhopper Exploration Plc SIP has on 28 February 2014 approved the issue of 52,632 Rockhopper shares under the terms of the SIP on behalf of employees and officers of the Company. The issue of shares under the SIP has been made under the Company's existing block listing entitlement.

Set out below is the Directors' participation in the SIP for the 2013/14 tax year:

Director	Number of Free Shares Awarded	Number of Partnership Shares Awarded	Number of Matching Shares Awarded	Number of Ordinary Shares held following the grant	% of issued share capital following the grant
Sam Moody	2580	1290	2580	1,549,578	0.55
Fiona MacAulay	2580	1290	2580	29,267	0.01

For the 2014/15 tax year, employees will be eligible for monthly participation in the SIP whereby they can acquire up to annual amount of £1,800 worth of Partnership Shares and will additionally be granted two Matching Shares for each Partnership Share. Any Free Share Award to be made in the 2014/15 tax year is at the discretion of the Company's Remuneration Committee and would most likely be made in or around March 2015. Under the terms of the Company's share dealing code, employees will not be permitted to join or leave the SIP or change their contributions during close periods.

In respect of the 2014/2015 tax year, Sam Moody and Fiona MacAulay have elected to participate in the SIP on a monthly basis to the maximum permissible under HMRC rules, being an annual amount of £1,800 each. The Company will make announcements on a quarterly basis during the 2014/15 tax year with details of the shares allotted or purchased each month on behalf of Sam Moody and Fiona MacAulay.

Stewart MacDonald, the Company's recently appointed Chief Financial Officer, will be eligible to participate in the SIP following a qualifying period. A further announcement regarding his participation will be made in due course as required.

The Company's Remuneration Committee will continue to review annually the operation of the SIP.

Total Voting Rights

In accordance with the Financial Services Authority's Disclosure and Transparency Rules, the Company confirms that, following the issue of 52,632 shares under the terms of the SIP, the issued ordinary share capital of the Company as at 28 February 2014 consists of 284,314,541 shares with voting rights attached (one vote per ordinary share).

Ends.

For further information, please contact:

Rockhopper Exploration plc

Tel: (via Vigo Communications) - 020 7016 9571

Sam Moody - Chief Executive

Canaccord Genuity Limited (NOMAD and Joint Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Liberum Capital (Joint Broker)

Tel: [phone]

Clayton Bush

Vigo Communications

Tel: [phone]

Peter Reilly

Patrick d'Ancona

Notes to Editors:

Rockhopper was established in February 2004 with a strategy to invest in and carry out offshore oil exploration to the north of the Falkland Islands. The Company floated on AIM in August 2005.

An extensive work programme was carried out over a number of years on the licences operated by Rockhopper. This has included 2D and 3D seismic and controlled source electromagnetic mapping. In February 2010, the Ocean Guardian drilling rig arrived in Falkland waters to carry out a multi-well drilling campaign. Rockhopper drilled an exploration well on Sea Lion during April and May 2010, the result of which was the first oil discovery and Contingent Resource in the North Falkland Basin. The Sea Lion discovery was successfully tested during September 2010 and June 2011 and was the first oil to flow to surface in Falkland Islands waters. Rockhopper's drilling campaign lasted from 16 April 2010 to 8 January 2012 and resulted in seven successful wells of the ten drilled, with three oil discoveries, three gas discoveries, multiple successful Sea Lion appraisal wells and a successful appraisal well on Casper.

In October 2012 Rockhopper completed a farm-out agreement with Premier Oil plc, whereby Premier Oil acquired 60% of Rockhopper's interests in its North Falkland Basin licences.

In October 2013 Rockhopper agreed with Falkland Oil and Gas to farm-in to licences PL004a and PL004c increasing the Company's interest in those licences to 24%.

Rockhopper currently has a 40% interest in licences PL032 and PL033 operated by Premier Oil plc, and a 24% interest in licences PL004a, PL004b and PL004c, which are operated by Falkland Oil & Gas Limited. PL004b contains the extension to the Sea Lion Field as well as the Beverley, Casper and Casper South discoveries. Rockhopper also has a 3% interest in PL003, operated by Premier Oil plc.

Rockhopper Exploration plc www.rockhopperexploration.co.uk

 

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