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Eco (Atlantic) Oil & Gas Ltd. Announces Company's Incentive Plan - Grant of RSUs
TORONTO, ON / ACCESSWIRE / August 23, 2019 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO...
About this update from Eco (atlantic) Oil & Gas Ltd.
[{"type":"text","content":"Eco (Atlantic) Oil & Gas Ltd. Announces Company's Incentive Plan - Grant of RSUsTORONTO, ON / ACCESSWIRE / August 23, 2019 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG) announces that the Company has granted 3,000,000 Restricted Share Units to directors, officers and advisers, of which 2,900,000 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 achievements. The RSUs will vest immediately and convert into 3,000,000 common shares of no par value in the Company (\"Common Shares\") (\"RSU Shares\").In addition, the Company announces that it has granted, to a consultant of the Company, warrants to subscribe for up to 80,000 Common Shares at a price of CAD $2.45 (£1.50) per Common Share (the \"Warrants\"). The Warrants are exercisable for a period of 1 year from the date of issue.Details of the RSUs being granted to each director are summarized in the table below:DirectorRSUs GrantedMoshe Peterburg350,000Gil Holzman900,000Colin Kinley900,000Gadi Levin200,000Alan Friedman125,000Kangulohi Helmut Angula100,000Peter Nicol200,000Keith Hill125,000Application has been made for admission of the 3,000,000 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 29 August 2019.Following Admission, the enlarged issued share capital of the Company will be 184,398,973 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 1955Gil Holzman, CEOColin Kinley, COO Strand Hanson Limited (Financial & Nominated Adviser)+44 (0) 20 7409 3494James HarrisRory MurphyJames Bellman Stifel Nicolaus Europe Limited (Joint Broker)Callum StewartNicholas RhodesAshton Clanfield+44 (0)20 7710 7600Berenberg (Joint Broker)+44 (0) 20 3207 7800Matthew ArmittDetlir Elezi Blytheweigh (PR)+44 (0) 20 7138 3204Tim BlytheJulia TilleyJane LentonHannam & Pa...