1st Dec 2009 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
TSX-V, LSE-AIM: XEL
November 30, 2009
Xcite Energy Limited
("Xcite Energy" or the "Company")
Award of Options to Directors and Management Team
Xcite Energy Limited, a developer of heavy oil assets in the UK North Sea, today announces the award of 100,000 options to purchase ordinary shares of the Company to each of the following Directors and members of the Xcite Energy Resources Limited (the Company's wholly owned subsidiary) Management Team:
Roger Ramshaw, Gregory Moroney, Timothy Jones, Scott Cochlan, Richard Smith, Stephen Kew, Rupert Cole, Jonathan Dale, Barnaby Brennan, Richard West and Charles Lucas-Clements.
All of these options were granted today under the terms of the Company's share option scheme, at an exercise price of CAN$0.74 per ordinary share and are exercisable for a period of five years. This award recognises the significant progress that has been made with respect to the Bentley field during 2009.
Following these option awards, the Directors of the Company have the following aggregate number of ordinary shares under option:
|
Aggregate ordinary shares under option |
|
|
Roger Ramshaw |
300,000 |
|
Gregory Moroney |
200,000 |
|
Timothy Jones |
200,000 |
|
Scott Cochlan |
200,000 |
|
Richard Smith |
1,100,000 |
|
Stephen Kew |
1,100,000 |
|
Rupert Cole |
1,100,000 |
ENQUIRIES:
|
Xcite Energy Limited |
+44 (0) 1330 826740 |
|
|
Richard Smith |
Chief Executive Officer |
|
|
Rupert Cole |
Chief Financial Officer |
|
|
Strand Hanson Limited (Nomad) |
+44 (0) 20 7409 3494 |
|
|
James Harris |
Director |
|
|
Rory Murphy |
Director |
|
|
Arbuthnot Securities Limited (Broker) Andrew Fairclough Ed Burbidge |
Director |
+44 (0)20 7012 2000 |
|
Pelham Public Relations |
+44 (0) 20 7337 1500 |
|
|
Mark Antelme Paradox Public Relations |
Director |
+1 514 341 0408 |
|
Jean-François Meilleur Karl Mansour |
Consultant Consultant |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Related Shares:
Xcite Energy