Business
Option Awards
Option Awards.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \n \n 11 November 2022\n \n \n \n Ascent Resources plc\n \n \n \n \n (\"Ascent\" or the \"Company\")\n \n \n \n \n Option Awards\n \n \n \n Ascent Resources Plc (LON: AST), the\n onshore Hispanic American and European focussed energy and natural resources company, announces an award of options.\n \n \n The Company announces the grant of an aggregate of 4,600,000 options over Ordinary shares of the Company to certain employees. Of the total options awarded the Executive Chairman and the Chief Executive Officer were each awarded options over 1,500,000 Ordinary shares and the Non-Executive Directors were each awarded options over 500,000.\n \n \n The five year options were granted on 11 November 2022 and have a three year vesting period and entitle each holder to exercise at a price of 5p. The performance vesting criteria for the options is the execution of a cash generating ESG Metals transaction consistent with the Company's strategy.\n \n \n The Board has awarded the following options:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Award\n \n \n \n \n \n \n Strike Price\n \n \n \n \n \n \n Expiry Date\n \n \n \n \n \n \n \n James Parsons\n \n \n \n \n 1,500,000\n \n \n \n \n £0.05\n \n \n \n \n 10 November 2027\n \n \n \n \n \n \n Andrew Dennan\n \n \n \n \n 1,500,000\n \n \n \n \n £0.05\n \n \n \n \n 10 November 2027\n \n \n \n \n \n \n Malcolm Graham Wood\n \n \n \n \n 500,000\n \n \n \n \n £0.05\n \n \n \n \n 10 November 2027\n \n \n \n \n \n \n Stephen Birrell\n \n \n \n \n 500,000\n \n \n \n \n £0.05\n \n \n \n \n 10 November 2027\n \n \n \n \n \n \n \n \n \n Following the grant of options, the resultant Directors' shareholdings are as follows:\n \n \n \n \n \n \n \n \n \n \n Directors\n \n \n \n \n \n \n Ordinary shares\n \n \n \n \n \n \n \n \n \n % of Issued Share Capital\n \n \n \n \n \n \n Options\n \n \n \n \n \n \n \n \n \n \n \n James Parsons\n \n \n \n \n 500,900\n \n \n \n \n 0.369\n \n \n \n \n 2,885,894\n \n \n \n \n \n \n \n Andrew Dennan\n \n \n \n \n 2,140,000\n \n \n \n \n 1.578\n \n \n \n \n 2,885,894\n \n \n \n \n \n \n \n Malcolm Graham Wood\n \n \n \n \n 0\n \n \n \n \n \n \n \n \n \n \n \n 500,000\n \n \n \n \n \n \n \n Stephen Birrell\n \n \n \n \n 0\n \n \n \n \n \n \n \n \n \n \n \n 500,000\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NOTIFICATION AND PU...