Business
Issue of Options
Issue of Options.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7551H Reabold Resources PLC 14 March 2018 \n\n \n\n\n\n\nFor immediate release\n\n\n 14 March 2018\n\n\n\n\n \n\n\n \n\n\n\n\nReabold Resources plc\n(\"Reabold\" or the \"Company\")\n \nIssue of Options\n \nReabold, the AIM-listed strategic investor in pre-cash flow upstream oil and gas projects, is pleased to announce that, further to the successful placing announced on 28 February 2017 to raise approximately £7.83m (\"the Placing\") at a price of 0.6 pence (\"the Placing Price\"), the Company advises that it has granted options to directors over a total of 125 million common shares (\"the Options\"). \nThe granting of the Options is subject to approval of the Placing at a meeting of shareholders to be held on 19 March 2018 and would represent 4.39% of the issued share capital of the Company following completion of the Placing. The Options will have a four-year term, expiring on 19 March 2022. \n\n\n\n\nExecutive\n\n\nPosition\n\n\nNew Options Issued\n\n\nExercise Price\n\n\nVesting Period\n\n\nExpiry\n\n\n\n\nSachin Oza\n\n\nCEO\n\n\n20,000,000\n20,000,000\n20,000,000\n\n\n0.60p\n0.90p\n1.20p\n\n\nImmediately\n12 months from grant\n18 months from grant\n\n\n19-Mar-22\n19-Mar-22\n19-Mar-22\n\n\n\n\nStephen Williams\n\n\nCEO\n\n\n20,000,000\n20,000,000\n20,000,000\n\n\n0.60p\n0.90p\n1.20p\n\n\nImmediately\n12 months from grant\n18 months from grant\n\n\n19-Mar-22\n19-Mar-22\n19-Mar-22\n\n\n\n\nAnthony Samaha\n\n\nFinance Director\n\n\n5,000,000\n\n\n0.60p\n\n\nImmediately\n\n\n19-Mar-22\n\n\n\n\n \nOf the 125m Options: 45 million have an exercise price of 0.60p and vest immediately and are in line with both the Placing Price as set out above; 40 million have an exercise price of 0.90p, representing a premium of 50% to the Placing Price and vest 12 months from grant; and 40 million have a exercise price of 1.2p, representing a premium of 100% to the Placing Price, and vest 18 months from grant. Should any Option holder leave the Board prior to the vesting of their Options, such Optio...