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Eco (Atlantic) Oil and Gas Ltd. Announces Company's Incentive Plan - Grant of RSUs
TORONTO, ON / ACCESSWIRE / May 16, 2022 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil and Gas Ltd. Announces Company's Incentive Plan - Grant of RSUsTORONTO, ON / ACCESSWIRE / May 16, 2022 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX‐V:EOG), the oil and gas exploration company focused on the offshore Atlantic Margins, is pleased to announce, that the Company has granted 2,850,000 Restricted Share Units to directors, officers and advisers, of which 2,500,000 are to existing Executives and Directors, pursuant to the Company's Restricted Share Units Plan (the \"RSUs\") and in acknowledgment of the Company's management's recent success and increased future workload. The RSUs will vest at each recipient's discretion and taking into account personal tax implications and convert into 2,850,000 common shares of no par value in the Company (\"Common Shares\") (\"RSU Shares\").In addition, the Company announces that it has granted, to directors, officers and advisers of the Company, options to subscribe for up to 7,050,000 Common Shares at a price of $CAD0.50 (£0.32) per Common Share (the \"Options\"). The Options are exercisable for a period of 5 years from the date of issue.Application has been made for admission of 1,800,000 of the RSU Shares, which have now vested, 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 23 May 2022.Following Admission, the enlarged issued share capital of the Company will be 309,549,605 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 Gasc/o Celicourt +44 (0) 20 8434 2754Gil Holzman, CEOColin Kinley, COOAlice Carroll, Head of Marketing and IR+44(0)781 729 5070 | +1 (416) 318 8272Strand Hanson Limited (Financial & Nominated Adviser)+44 (0) 20 7409 3494James HarrisJames Bellman Berenberg (Broker)+44 (0) 20 3207 7800Emily MorrisDetlir Elezi Celicourt (PR)+44 (0) 20 8434 2754Mark AntelmeJimmy Lea The information contained within this announcement is deemed by the Company to constitute i...