Business
Issue of Share Options
Issue of Share Options.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9818S Pantheon Resources PLC 30 September 2014 \n \n\nPress Release Date: 30 September 2014\nPantheon Resources plc\nIssue of Share Options\nPantheon Resources plc (\"Pantheon\" or \"the Company\"), the AIM-quoted oil and gas exploration company active in Texas, announces the grant of share options today including under the Pantheon Resources plc 2009 Discretionary Share Option Plan (\"the Share Option Scheme\"). \nThe Share Option Scheme applies to certain executive directors and employees of the Company. Today's awards of 10,000,000 options include awards which have been made to the Directors under the Share Option Scheme or pursuant to option agreements. All options awarded today vest as to 50% on the date of grant and 50% on the later of the first anniversary of grant or the spudding of the second well in the Company's upcoming drilling programme. Details of the awards to Directors are as follows:\n \n\n\n\n\nDirector\n\n\nNumber of options granted\n\n\nExercise Price \nper Share2\n\n\nOptions as a per cent of issued Share Capital following the Placing3\n\n\n\n\nJohn Bishop Cheatham\n\n\n4,385,000\n\n\n30 pence\n\n\n2.2%\n\n\n\n\nJohn Arthur Walmsley\n\n\n1,000,0001\n\n\n30 pence\n\n\n0.5%\n\n\n\n\nJustin George Hondris\n\n\n3,865,000\n\n\n30 pence\n\n\n2.0%\n\n\n\n\n \n(1) granted pursuant to an option agreement, outside of the Share Option Scheme. \n(2) the exercise price was determined as a 50% premium to the Placing Price per share announced 30 September 2014 as established by a standard book build process.\n(3)assuming completion of the Firm Placing, the Conditional Placing and the issue of the Additional Shares as defined in the announcement of the Placing earlier today.\n \nAll of the options will lapse on the tenth anniversary of the date of grant following a decision to extend the date of lapse ...