23rd Jan 2009 15:47
Regulatory Press Release
Afren PLC
23 January 2009
Afren plc ('Afren' or 'the Company')
Award of Options
The Company announces that the Board of Directors have approved the following share option award over ordinary shares of 1p each ("Ordinary Shares") in the Company under the Afren plc Share Option Scheme:
|
Director |
Number of Share Options Awarded 23rd January 2009 |
Total Number of Director's Options following this notification |
|
Osman Shahenshah |
3,000,000 |
7,400,000 |
|
Shahid Ullah |
1,500,000 |
1,500,000 |
|
Egbert Imomoh |
750,000 |
3,500,000 |
|
Constantine Ogunbiyi |
1,250,000 |
3,250,000 |
The options have an exercise price of 23.25 pence and will vest according to the schedule below
20% after 1 year;
20% after 2 years; and
60% after 3 years
once a closing share price of a 40 per cent premium above the exercise price is achieved for a three month period, from the date of award for 10 years.
Enquiries
+ 44 20 7451 9700
Related Shares:
AFR.L