Business
LTIP Conditional Share Awards
LTIP Conditional Share Awards.
About this update from Petro Matad Limited
[{"type":"text","content":"\n \nRNS Number : 7894E Petro Matad Limited 14 February 2018 \n\n14 February 2018\nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\nAwards of Conditional Share Awards\nThe Company notifies that on 13 February 2018 grants of 5,507,533 conditional share awards (\"CSAs\") under the Company's Long-Term Equity Incentive Plan (\"LTIP\") were approved to be made to certain Directors and employees. The CSAs have been granted as an element of Director compensation, as well as to partially compensate for the reductions in salaries and fees implemented by the Company in late 2016 as part of its strategy to preserve cash.\nThe CSAs will vest immediately and participants have until 13 February 2019 to exercise these awards for an exercise price of US$0.01 per Petro Matad ordinary share. Awards have been made to the following Directors of the Company:\n\n\n\n\nDirector\n\n\nConditional Share Awards\n\n\n\n\nEnkhmaa Davaanyam\n\n\n500,000\n\n\n\n\nOyungerel Janchiv\n\n\n77,284\n\n\n\n\nTimothy Bushell\n\n\n500,000\n\n\n\n\nJohn Henriksen\n\n\n500,000\n\n\n\n\nMichael Buck\n\n\n1,000,000\n\n\n\n\n \nFor more information, please contact:\n\n\n\n\n \nPetro Matad Limited\n\n\n \n\n\n\n\nMike Buck, CEO\n\n\n+97 670 141 099 / +97 675 751 099\n\n\n\n\n \n\n\n \n\n\n\n\nNOMAD and Joint Broker\nStockdale Securities Limited\n\n\n+44 (0)20 7601 6100\n\n\n\n\nRichard Johnson / El Hanan Lee\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nJoint Broker\nStifel Nicolaus Europe Limited\n\n\n+44 (0)20 7710 7600\n\n\n\n\nCallum Stewart/Nicholas Rhodes/Ashton Clanfield\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCommunications Advisory Firm\nFTI Consulting\n\n\n+44 (0)20 3727 1521\n\n\n\n\nEdward Westropp\n\n\n \n\n\n\n\n \nAbout Petro Matad\nPetro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country. \nPetro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is a...