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Valiant Petroleum (VPP)

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Wednesday 07 January, 2009

Valiant Petroleum

Award of Stock Options

RNS Number : 2970L
Valiant Petroleum PLC
07 January 2009
 



Valiant Petroleum plc

7 January 2008

PRESS RELEASE

Stock Option Award

Valiant Petroleum plc ("Valiant" or the "Company") announces that in accordance with the Company's Stock Option Scheme the following options to acquire ordinary shares have been awarded to the Directors and staff between Valiant's AIM admission date and the year ending 31 December 2008:


Directors

Role

Grant Date

Amount

Option Price

Steven Edgley

Finance Director

01-Jul-08

60,000

£10.00



16-Dec-08

60,000

£2.55

Sandra Shaw

General Counsel

01-Aug-08

60,000

£10.00



16-Dec-08

45,000

£2.55

Sub Total

 

 

225,000

 

 

 

 

 

 

Staff

 

 

Amount

Option Price

Staff Options Issued from Mar-Dec 2008


992,000

£2.55 - £10.00

Total 2008

 

 

1,217,000

 


In accordance with the Company's Share Option Scheme, the options have a three year vesting period and will lapse after the tenth anniversary of the grant if unexercised.

The weighted average option price of all of the options awarded from March to December 2008 is £6.56 per share.

The total outstanding options as at 31 December 2008 is 3,832,000 with a total weighted average option price of £6.06 per share.

There has been no change to the total shares outstanding of 26,245,398 following this announcement.

ENDS


Valiant Petroleum plc                                                                 www.valiant-petroleum.com

Peter Buchanan, Chief Executive Officer                           +44 (0)1483 755 666

Steve EdgleyFinance Director                                                +44 (0)1483 755 666

Nick Ingrassia, Investor Relations                                            +44 (0)1483 755 666


Oriel Securities Limited (NOMAD, Broker)                          www.orielsecurities.com

Natalie Fortescue                                                                           +44 (0) 20 7710 7600


Tristone Capital Limited (Broker)                                             www.tristonecapital.com

Majid Shafiq                                                                                      +44 (0) 20 7355 5800


Aquila Financial Limited (PR)                                                     www.aquila-financial.com

Peter Reilly                                                                                       +44 (0) 118 979 4100



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