Business
LTIP Allotment
LTIP Allotment.
About this update from Afentra Plc
[{"type":"text","content":"\n Sterling Energy PLC\n14 February 2008\n\n\n\n\n Sterling Energy Plc ('Sterling' or the 'Company')\n\n\n LTIP Allotment\n\nFollowing the announcement on 4 February 2008 of changes in the senior management \nteam and in accordance with the approved Long Term Incentive Plan ('LTIP'), on 12 \nFebruary 2008 the Company agreed to grant nominal cost options to the Directors set \nout below to acquire ordinary shares ('Shares') (the 'A' Options) and at the same \ntime, will grant nominal cost options to acquire Shares to the trustees of the \nSterling Energy Plc Employee Benefit Trust (the 'EBT') (the 'B' Options). The \ntrustees of the EBT have indicated their agreement to make awards to the directors \nof reversionary interests, which will initially be represented by the B Options.\n\nSubject to the trustees exercising their discretion the combined awards under the \nA and B Options will be as follows:\n\n+------------------+------------------------+-----------------------------------------------+\n|Director |Face value of the award |Maximum number of shares awarded under the LTIP|\n+------------------+------------------------+-----------------------------------------------+\n| | | |\n+------------------+------------------------+-----------------------------------------------+\n|Jonathon Cooper | £400,000| 4,200,000|\n+------------------+------------------------+-----------------------------------------------+\n|Andrew Grosse | £75,000| 800,000|\n+------------------+------------------------+-----------------------------------------------+\n|Graeme Thomson | £94,000| 1,000,000|\n+------------------+------------------------+-----------------------------------------------+\n\n\n\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]