11th Jan 2012 13:08
ENEGI OIL PLC
AIM ticker: 'ENEG'
11 January 2012
Enegi Oil Plc
('Enegi' or 'the Company')
Award of Options
The Company announces that it has, on the basis of the recommendation of its Remuneration Committee, awarded a total of 8,600,000 options over ordinary shares of 1p each in the Company (the "Options") to directors and senior management.
The Options include the following amounts to directors of the Company:
Director | Reward Options | Incentive Options | Total Options |
Alan Minty | 1,000,000 | 2,000,000 | 3,000,000 |
Barath Rajgopual | 500,000 | 0 | 500,000 |
David Lau | 300,000 | 600,000 | 900,000 |
Tejvinder Minhas | 400,000 | 800,000 | 1,200,000 |
Damian Minty | 600,000 | 1,200,000 | 1,800,000 |
David Parry | 0 | 1,200,000 | 1,200,000 |
The Reward Options, which are being awarded to individuals that have helped stabilise the Company over the last three years, vested on 15 September 2011 and have an exercise price of 16p. The Incentive Options will vest in two equal tranches on 15 September 2012 and 15 September 2013 and the exercise price will be 21p.
Following this award, the total number of options outstanding is 8,600,000, which represents 8.7% of current issued share capital of 98,423,582 ordinary shares.
Enegi Oil | |
Alan Minty, CEO | +44 161 817 7460 |
David Parry, Director | +1 604 568 0733 |
Cenkos Securities | |
Jon Fitzpatrick | +44 207 397 8900 |
Neil McDonald | +44 131 220 9771 |
College Hill | |
Nick Elwes | +44 207 457 2020 |
The Company
Enegi Oil Plc is an independent oil and gas company. Current operations are focused on opportunities around the Port au Port Peninsula in Newfoundland, Canada and the Clare Basin in County Clare, Ireland. The Port au Port Peninsula is located in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions. The Clare Basin is located in western Ireland and initial technical studies show that it has the potential to contain shale gas.
www.enegioil.com
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