22nd Dec 2008 15:47
22 December 2008
Forum Energy Plc
("Forum Energy" or the "Company")
Surrender and Grant of Options
On 19 December 2008 the Board of Forum granted new options over 1,822,000 ordinary shares in the Company to Directors, employees and consultants to the Company under the Forum Energy Share Option Plan and its sub-plans as appropriate (the "Plan").
Certain Directors and employees additionally surrendered 745,000 options previously granted under the Plan which were due to expire on 19 February 2009 as a consequence of the Philex Petroleum Corporation Mandatory Offer.
All options have been granted with an exercise price of 31 pence. Reissued options are exercisable from 19 December 2008 and additional options from 19 December 2009. All options must be exercised on or before 19 December 2018.
The table below sets out the number of options surrendered and re-issued, the number of additional options granted and the total number of options held by Directors following the surrender and grant of options.
|
Name |
Number of options surrendered and re-issued
|
Number of additional options granted |
Total number of options held following surrender and grants |
|
Walter Brown |
- |
1,000,000 |
1,000,000 |
|
Andrew Mullins |
250,000 |
250,000 |
500,000 |
|
Alan Henderson |
222,000 |
50,000 |
272,000 |
|
Barry Stansfield |
79,000 |
121,000 |
200,000 |
|
For further information please contact: Forum Energy Plc: |
|
|
Alan Henderson |
Tel: +44 (0)1932 445344 |
|
Chairman |
|
|
Noble & Company Ltd: (Nominated adviser) |
|
|
Brian Stockbridge/Jarod Casey |
Tel: +44 (0)207 763 2200 |
Or visit Forum's website:
www.forumenergyplc.com
Related Shares:
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