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Eco (Atlantic) Oil and Gas Ltd Announces Company Incentive Plan - Grant of RSUs and Options
TORONTO, ON / ACCESSWIRE / February 28, 2019 / Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO; T...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil and Gas Ltd Announces Company Incentive Plan - Grant of RSUs and OptionsTORONTO, ON / ACCESSWIRE / February 28, 2019 / Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO; TSX-V:EOG) announces that the Company has granted 3,030,000 Restricted Share Units to directors, officers and advisers, of which 2,930,000 are to existing Directors, pursuant to the Company's Restricted Share Units Plan (the \"RSUs\"). The RSUs will vest immediately and convert into common shares of no par value in the Company (\"Common Shares\") (\"RSU Shares\").Additionally, the Company announces that, in compliance with the Company's stock option plan, it has granted a total of 800,000 stock options (the \"Options\") to directors, officers and advisers, of which 750,000 are to existing Directors. The Options are exercisable at a price of $1.50 per Common Share, and a vesting schedule allowing for the vesting of the Options in three equal installments, with one third vesting immediately; one third vesting on 1 March 2020 and one third vesting on 1 March 2021. The Options expire on 1 March 2024.Details of the RSUs and Options being granted to each director are summarized in the table below: Director RSUs Granted Options Granted Moshe Peterburg 400,000 100,000 Gil Holzman 900,000 100,000 Colin Kinley 900,000 100,000 Gadi Levin 150,000 50,000 Alan Friedman 80,000 100,000 Kangulohi Angula - 100,000 Peter Nicol 250,000 100,000 Keith Hill 250,000 100,000 Application has been made for admission of the 3,030,000 RSU Shares, which will rank pari passu with existing Common Shares, to trading on AIM (\"Admission\"). It is expected that Admission will become effective and trading will commence at 8:00 a.m. on 6 March 2019.Following Admission, the enlarged issued share capital of the Company will be 164,405,530 Common Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.For more information, please visit www.ecooilandgas.com or contact the following: Eco Atlantic Oil and Gas +1 (416) 250 1955 Gil Holzman, CEO Colin Kinley, COO Alan Friedman, VP Strand Hanson Limited (Financial & Nominated Adviser) +44 (0) 20 7409 3494 James Harris...