TIDMNUOG
RNS Number : 8879X
Nu-Oil and Gas PLC
27 February 2017
NU-OIL AND GAS PLC
AIM ticker: 'NUOG'
27 February 2017
NU-Oil and Gas plc
("NU-Oil" or "the Company")
Award of Options to Directors
The Company announces that it has, on the basis of the
recommendation of its Remuneration Committee, awarded today a total
of 80.0 million new options over ordinary shares of 0.1p each in
the Company ("Options") to Directors of NU-Oil ("Directors") and
cancelled 10.3 million existing Options.
The new Options comprise 48.0 million issued to reward certain
Directors for past work in stabilising the Company and its
financial position, including deferring salaries ("Reward
Options"), and 32.0 million options to incentivise Directors
("Incentive Options"). The individual allocations (and the
cancelled Options for each of the Directors), together with vesting
dates and exercise prices, are as follows:
New Options
Director Reward Options Incentive Options Total Options Exercise
Price
Alan Minty 12,000,000 8,000,000 20,000,000 0.6p
Damian Minty 12,000,000 8,000,000 20,000,000 0.6p
Tejvinder Minhas 12,000,000 8,000,000 20,000,000 0.6p
Nigel Burton 0 8,000,000 8,000,000 0.6p
Frank Jackson 8,000,000 0 8,000,000 0.6p
Mike Bowman 4,000,000 0 4,000,000 0.6p
Cancelled Options
Director Number Weighted Average Exercise Price
Alan Minty 5,000,000 16.4p
Damian Minty 2,800,000 16.5p
Tejvinder Minhas 2,000,000 16.4p
Frank Jackson 500,000 15.0p
Total New Options
Director Number Vesting Date Exercise Price
Alan Minty 20,000,000 27/02/17 0.6p
Damian Minty 20,000,000 27/02/17 0.6p
Tejvinder Minhas 20,000,000 27/02/17 0.6p
Nigel Burton 8,000,000 27/02/17 0.6p
Frank Jackson 8,000,000 27/02/17 0.6p
Mike Bowman 4,000,000 27/02/17 0.6p
The Options issued to Directors under a previous scheme (as
outlined in a Company RNS dated 10 June 2013) have been cancelled
and replaced by the new options, as per the above.
Both Reward and Incentive Options awarded to executive directors
of the Company are exercisable within 5 years from their vesting
date and will have a 'lock-in' period of 9 months from their
vesting date, during which these options cannot be exercised.
Reward Options awarded to non-executive directors (being Frank
Jackson and Mike Bowman) will have no such restrictions.
Following this award, the total number of Options outstanding is
80,000,000, which represents 7.7% of the current issued share
capital of 1,037,792,348 ordinary shares.
Enquiries:
NU-Oil and Gas plc
Alan Minty, Executive Chairman Tel: +44 161 817 7460
Nigel Burton, CEO Tel: +44 7785 234447
Strand Hanson Limited
Rory Murphy/Ritchie Balmer Tel: +44 20 7409 3494
Beaufort Securities Limited Tel: +44 20 7382 8300
Jon Belliss
Elliot Hance
St Brides Partners Limited Tel: +44 20 7236 1177
Elisabeth Cowell
Lottie Brocklehurst
www.nu-oilandgas.com
Note to Editors:
NU-Oil and Gas plc is an independent oil and gas
company whose strategy is to build a diverse portfolio
of assets with a strong emphasis on acquiring interests
in stranded and marginal fields.
These fields are low risk highly-appraised projects
and consequently the Company's entry cost will
be low. NU-Oil will look to develop these assets
utilising solutions delivered by Marginal Field
Development Company (MFDevCo) and the MFD Consortium,
which can significantly improve the development
economics of a project. This is also expected to
enable the early booking of reserves.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGZZNNGGNZG
(END) Dow Jones Newswires
February 27, 2017 02:35 ET (07:35 GMT)
Nu-oil And Gas (LSE:NUOG)
過去 株価チャート
から 12 2024 まで 1 2025
Nu-oil And Gas (LSE:NUOG)
過去 株価チャート
から 1 2024 まで 1 2025
