Business
Issue of Options
Issue of Options.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n \nRNS Number : 6319W Global Petroleum Ltd 16 November 2017 \n\n16 November 2017\n \nGlobal Petroleum Limited\n(ASX: GBP, AIM: GBP)\n \nIssue of Incentive Options to Directors\n \nFollowing approval by Shareholders at the Company's AGM held on 14 November 2017, the Board of Global Petroleum Limited (\"Global\" or \"the Company\") has resolved to issue options over ordinary shares in the Company to certain of its directors as detailed below. \n \nThe options will be exercisable at any time before the fifth anniversary of the date of grant at an exercise price of A$0.0318 (the VWAP of the Company's Shares during the five trading day period up to and including the date of the Meeting) and otherwise issued on the terms and conditions set out in Schedule 2 of the Notice of AGM a copy of which is available on the Company's website.\n \nThere are no performance criteria on the Incentive Options. Given the speculative nature of the Company's activities and the small management team responsible for its running, the performance of the directors and the performance and value of the Company are considered to be closely related. As such, the Incentive Options granted will generally only be of benefit if the directors perform to the level whereby the value of the Company increases sufficiently to warrant exercising the Incentive Options.\n \n\n\n\n\nDirector\n\n\nNo. of options granted\n\n\n\n\nPeter Hill\n\n\n6,000,000\n\n\n\n\nJohn Van Der Welle\n\n\n1,000,000\n\n\n\n\nAndrew Draffin\n\n\n500,000\n\n\n\n\nGarrick Higgins\n\n\n500,000\n\n\n\n\n \nFor further information please visit www.glo-pet.com.au or contact:\n \n\n\n\n\nGlobal Petroleum Limited\n\n\n \n\n\n\n\nPeter Hill, Managing Director & CEO\n\n\n+44 (0) 20 7495 6802\n\n\n\n\nDamien Cronin, Company Secretary\n\n\n+61 (0) 7 3310 8732\n\n\n\n\nCantor Fitzgerald Europe (Nominated Adviser & Joint Broker)\n\n\n \n\n\n\n\nSarah Wharry\n\n\n+44 (0) 20 7894 7000\n\n\n\n\nGMP FirstEnergy Capital LLP (Joint Broker)\n\n\n \n\n\n\n\nHugh Sanderson\n\n\n+44 (0) 20 7448 0200\n\n\n\n\nTavistock (Financial PR & IR)\n\n\n \n\n\n\n\nSimon Hudson / Barney Hayward\n\n\n+44 (0) 20 7920 3150\n\n\n\n\n \n \n\n\n\n\n1.\n\n\nDetails of the person discharging managerial responsibilities / person closel...