Business
Issuance of Share Options
Issuance of Share Options.
About this update from Cloudbreak Discovery Plc
[{"type":"text","content":"\n Cardinal Resources plc\n13 March 2006\n\n\nCARDINAL RESOURCES PLC GRANTS SHARE OPTIONS\n\nLONDON - Monday, 13th March 2006\n\nCardinal Resources plc (AIM:CDL) ('Cardinal' or 'The Company'), an independent\noil and gas production and exploration company operating in Ukraine, today\nannounces that its Board of Directors has granted share options to Directors and\nemployees with effect from 10th March 2006.\n\nDirectors and employees will have the right to purchase up to an aggregate of\n1,550,000 ordinary shares at an exercise price of 32p per ordinary share,\nexercisable until 10th March 2011. The options vest as to 1/3 on 10th March\n2007, 2008 and 2009. The options have been granted in accordance with the terms\nand conditions of the existing Share Option Scheme approved by shareholders on\n9th March 2005.\n\nThe number of options granted to Cardinal's Directors is detailed below. The\nremaining options have been granted to eleven additional employees. Cardinal\nwill continue to issue options to motivate employees and ensure that they\nparticipate in the value enhancement of the Company along with its shareholders.\n\n\nDirector Number of Options\n\nRobert J. Bensh\nChairman and Chief Executive Officer 350,000\n\nCharles C. Green\nVice-Chairman and Chief Financial Officer 200,000\n\nMisbah Al Droubi\nNon-Executive Director 62,500\n\nJonathan C.R. Morley-Kirk\nNon-Executive Director 62,500\n\nDavid F. Phillips\nNon-Executive Director 62,500\n\nMarcus J.G. Stanton\nNon-Executive Director 62,500\n\nFollowing this announcement, a total of 13,230,000 options are currently held by\nDirectors and employees under the existing scheme.\n\n###\n\nFor further information please contact:\n\nCardinal Resources Parkgreen Communications\nKate Spiro Justine Howarth / Victoria Thomas\n+44 (0) 20 7936 5258 +44 (0) 20 7493 3713\[email protected] [email protected]\n\n\nNotes to Editor\n\nCardinal Resources plc\nCardinal Resources plc is an independent oil and gas production and exploration\ncompany with assets in Ukraine. Cardinal is an experienced operator in the\ncountry focused on expanding its existing operations through the farm-in or\nacquisition of additional upstream oil and gas assets that can be further\ndeveloped through the application of modern technology and expertise.\n\n\n\n\n\n\n\n\n This information is pr...