13th Mar 2006 14:20
Cardinal Resources plc13 March 2006 CARDINAL RESOURCES PLC GRANTS SHARE OPTIONS LONDON - Monday, 13th March 2006 Cardinal Resources plc (AIM:CDL) ("Cardinal" or "The Company"), an independentoil and gas production and exploration company operating in Ukraine, todayannounces that its Board of Directors has granted share options to Directors andemployees with effect from 10th March 2006. Directors and employees will have the right to purchase up to an aggregate of1,550,000 ordinary shares at an exercise price of 32p per ordinary share,exercisable until 10th March 2011. The options vest as to 1/3 on 10th March2007, 2008 and 2009. The options have been granted in accordance with the termsand conditions of the existing Share Option Scheme approved by shareholders on9th March 2005. The number of options granted to Cardinal's Directors is detailed below. Theremaining options have been granted to eleven additional employees. Cardinalwill continue to issue options to motivate employees and ensure that theyparticipate in the value enhancement of the Company along with its shareholders. Director Number of Options Robert J. BenshChairman and Chief Executive Officer 350,000 Charles C. GreenVice-Chairman and Chief Financial Officer 200,000 Misbah Al DroubiNon-Executive Director 62,500 Jonathan C.R. Morley-KirkNon-Executive Director 62,500 David F. PhillipsNon-Executive Director 62,500 Marcus J.G. StantonNon-Executive Director 62,500 Following this announcement, a total of 13,230,000 options are currently held byDirectors and employees under the existing scheme. ### For further information please contact: Cardinal Resources Parkgreen CommunicationsKate Spiro Justine Howarth / Victoria Thomas+44 (0) 20 7936 5258 +44 (0) 20 7493 [email protected] [email protected] Notes to Editor Cardinal Resources plcCardinal Resources plc is an independent oil and gas production and explorationcompany with assets in Ukraine. Cardinal is an experienced operator in thecountry focused on expanding its existing operations through the farm-in oracquisition of additional upstream oil and gas assets that can be furtherdeveloped through the application of modern technology and expertise. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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