30th May 2013 07:00
30 May 2013
MADAGASCAR OIL LIMITED
("Madagascar Oil" or the "Company")
Grant of Options
Madagascar Oil (AIM: MOIL) announces that on 29 May 2013 the Board approved the following grant of options over common shares of par value US$0.001 each ("Options") to Directors of the Company under the Madagascar Oil Limited Unapproved UK Incentive Plan.
Name of Director | Number of new Options granted | Total Options held following grant |
Paul Ellis | 2,500,000 | 2,500,000 |
Andrew Morris | 1,500,000 | 1,578,947 |
Iain Patrick | 300,000 | 300,000 |
Once vested, the Options are exercisable (in whole or in part) at any time up to the tenth anniversary of the date of grant, and are exercisable at a price of 18p per share. Vesting occurs on 1 January 2014.
-ENDS-
Madagascar Oil Limited Andrew Morris, Non Executive Chairman Paul Ellis, Chief Executive Officer
|
+1 713 357 4820 |
Strand Hanson Limited Stuart Faulkner Angela Hallett James Dance
| +44 (0)20 7409 3494 |
Mirabaud Securities LLP Rory Scott Edward Haig-Thomas
| +44 (0)20 7878 3360 |
Pelham Bell Pottinger Mark Antelme Henry Lerwill | +44 (0)20 7861 3232
|
Related Shares:
MOIL.L