5th Jan 2010 16:00
Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
5 January 2010
Altona Energy Plc ('Altona' or 'the Company')
Cancellation of Options and Issue of Replacement Options
Altona Energy Plc, the AIM listed Australian based energy company, announces the cancellation of 14 million options issued to directors of the Company in October 2006, and the issue today of 14 million replacement options to these directors. The options are for a term of four years from the date of issue, with an exercise price of 7p, and they are allocated as follows:
|
Director |
Position |
7p Exercise Price |
|
Christopher Lambert |
Executive Chairman |
5,500,000 |
|
Christopher Schrape |
Managing Director |
3,500,000 |
|
Anthony Samaha |
Finance Director |
2,500,000 |
|
Norman Kennedy |
Non-Executive Director |
2,500,000 |
|
Total Options |
14,000,000 |
Half of the above options vest immediately and half of the options vest should the director remain in service to the Company twelve months from the date of issue.
The cancelled options had all vested, would have expired in October 2011 and had exercise prices of 7p (6 million options), 10p (5 million) and 14p (3 million).
The above replacement options total approximately 3.8% of the current issued capital and have been issued to further incentivise the directors of Altona towards further significant progress in the development of the Company's Arckaringa Coal Project. The exercise price represents a premium of approximately 34% to the closing share price on the date of offer and acceptance of the replacement options on 17 December 2009 and approximately 17% to the closing share price on 4 January 2010.
Following the cancellation and issue of the replacement options, the total number of options held by the directors is unchanged and their interests in Altona securities are as follows:
|
Director |
Position |
Ordinary Shares |
Total Number of Options |
|
Christopher Lambert |
Executive Chairman |
6,000,000 |
11,500,000 |
|
Christopher Schrape |
Managing Director |
500,000 |
9,500,000 |
|
Anthony Samaha |
Finance Director |
1,500,000 |
7,500,000 |
|
Norman Kennedy |
Non-Executive Director |
17,712,693 |
5,000,000 |
**ENDS**
For further information visit www.altonaenergy.com or please contact:
|
Christopher Lambert |
Altona Chairman |
Tel: +44 (0) 20 7024 8391 |
|
Christopher Schrape |
Altona Managing Director |
Tel: +44 (0) 20 7024 8391 |
|
Samantha Harrison |
Ambrian Partners Limited |
Tel: +44 (0) 20 7634 4705 |
|
Alexandra Carse |
Ambrian Partners Limited |
Tel: +44 (0) 20 7634 4705 |
|
Paul Youens |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
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Altona Energy