21st Dec 2007 14:25
Forum Energy Plc21 December 2007 21 December 2007 Forum Energy Plc ("Forum" or the "Company") Further unapproved options and awards under Long Term Incentive Plan ("LTIP") The Board of Forum reports the granting of unapproved options and reversionaryinterest awards in line with the Forum Long Term Incentive Plan, details ofwhich were announced on 18 September 2006. On 20 December 2007 and in accordance with the LTIP, Forum agreed to grantoptions to acquire ordinary shares of 10p each in the capital of Forum for nilconsideration (the "Shares") to the trustees of the Forum Employee Benefit Trust(the "EBT") with an exercise price of 10p per share (the "A Options"). Thetrustees of the EBT have also been granted additional options for nilconsideration to acquire Shares with an exercise price of 10p per share (the "BOptions") and have indicated their agreement to grant unapproved options andreversionary interest awards, which will initially be matched by the A Optionsand B Options respectively, to two employees as set out below: Maximum number of Face value of shares awardedEmployee the award under the LTIP Russell Harvey £47,000 200,000Chief Executive Officer Andrew Mullins £17,625 75,000Company Secretary The vesting of the unapproved options and reversionary interest awards outlinedabove will depend, inter alia, upon the market value of a Share averaging twicethe market value of a Share on the date of grant calculated over a consecutiveperiod of ten business days or upon the occurrence of a change of control e.g. asale of Forum. If not vested the unapproved options and awards will lapse twoyears after the date of grant. For further information please contact: Forum Energy Plc:Andrew Mullins Tel: +44 (0)1932 445 344Company Secretary Noble & Company Ltd (nominated adviser):Nick Naylor Tel: +44 (0)20 7763 2200Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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