Business
Grant of Options
Grant of Options.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n13 July 2016\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nGrant of options\n\nEuropa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, announces that it has today awarded a total of 3,560,000 options to buy Ordinary Shares of 1p each in the Company. The options are granted in recognition of the 20% salary cuts taken by the Board and office based staff while oil prices have been depressed. Together with the 11,885,000 options outstanding prior to this award the total of 15,445,000 represents 6.3% of the current issued share capital.\n\n\n\n\nOptions Awarded\n\n\n\nHugh Mackay\n1,600,000\n\n\n\nPhil Greenhalgh\n1,200,000\n\n\n\nRoderick Corrie\n150,000\n\n\n\nOther staff\n610,000\n\n\n\nTotal\n3,560,000\n\n\n\nAll of the options have an exercise price of 6.5p (a 73% premium to the current share price) and are exercisable after 12 months, with a 10 year life.\n\nThe options awarded to Mr Corrie only vest if the share price is above 10p for a continuous period of 30 calendar days.\n\nThe options awarded to Mr Mackay & Mr Greenhalgh vest as follows:\n\n\n50% if the share price is above 10p for a continuous period of 30 calendar days\n\n35% on successful farm-out of the Company’s Irish acreage\n\n15% on successful start-up of Wressle production\n\n\nPDMR disclosures follows:\n\n \n\nNotification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n\n\n\n\nDetails of the person discharging managerial responsibilities / person closely associated\n\n\n\na)\nName\nRoderick James Hugh McLeod Corrie\n\n\n\n\nReason for the Notification\n\n\n\na)\nPosition/status\nDirector\n\n\n\nb)\nInitial notification/Amendment\nInitial notification\n\n\n\n\nDetails of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor\n\n\n\na)\nName\nEuropa Oil & Gas (Holdings) plc\n\n\n\nb)\nLEI\nPending\n\n\n\n\nDetails of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted\n\n\n\na)\nDescription of the F...