Business
Grant of Stock Options
Grant of Stock Options.
About this update from Capital Metals Plc
[{"type":"text","content":"\n \nRNS Number : 6602H Equatorial Palm Oil plc 13 July 2012 \n \n\n13 July 2012\nEQUATORIAL PALM OIL plc\n(\"EPO\" or the \"Company\")\n \nGrant of Stock Options\n \nEPO, (AIM: PAL), the AIM listed palm oil development company with operations in Liberia, announces that on 18 June 2012 the board of directors of the Company (the \"Board\") agreed to issue 2,020,200 options to directors and management of the Company (the \"Options\"). The Options shall be issued for nil consideration and each Option will grant the holder the right to subscribe for one ordinary share in the Company (\"Ordinary Shares\"), currently held in treasury, at an exercise price of 17.5p. The Options have an expiry date of 26 February 2015, and 50 per cent. of the Options will vest immediately and the remaining 50 per cent. will vest in two equal tranches subject to certain operational performance hurdles.\n \nThe table below sets out the distribution of the Options to the Board:\n \n\n\n\n\nName\n\n\nNumber of Options granted\n\n\nTotal number of options following grant\n\n\nExisting interest in warrants\n\n\n\n\nMichael Frayne*\n\n\n500,000\n\n\n1,750,000\n\n\n2,476,461\n\n\n\n\nGeoffrey Brown\n\n\n500,000\n\n\n1,500,000\n\n\n245,893\n\n\n\n\nAnthony Samaha\n\n\n200,000\n\n\n1,200,000\n\n\n64,220\n\n\n\n\nShankar Varadharajan\n\n\n200,000\n\n\n200,000\n\n\n-\n\n\n\n\nJoseph Jaoudi\n\n\n200,000\n\n\n1,450,000\n\n\n545,000\n\n\n\n\n \n* Of the 2,476,461 warrants in which Michael Frayne is interested, a total of 2,327,143 are held in the name of Adelise Services Limited, a company held by a trust of which Michael Frayne is a beneficiary.\n \nIn addition, a total of 620,200 options were issued on the same terms to senior management of the Company. Following the issue of options and as at the date of this announcement the Company has a total of 128,316,434 Ordinary Shares in issue and a further 19,936,634 warrants and options outstanding.\n \n \nFor further information, please contact:\n \n\n\n\n\nEquatorial Palm Oil plc\nMichael Frayne (Chairman)\nwww.epoil.co.uk \n \n\n\n+44 (0) 20 7766 7555\n\n\n\n\nStrand Hanson Limited (Nominated Adviser)\nJames Harris / Paul Cocker\n\n\n+44 (0) 20 7409 3494\n\n\n\n\n \n\n\n\n\nMirabaud Securities LLP (Broker)\nPeter Krens\n \n\n\n+44 (0) 20 748...