Business
Grant of EMI Share Options
Grant of EMI Share Options.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7473E\n Baron Oil PLC\n 10 November 2020\n \n \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \n Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n \n 10 \n November 2020\n \n \n Baron Oil Plc\n \n \n (\"Baron Oil\", \"Baron\" or \"the Company\")\n \n \n Grant of EMI Share Options\n \n \n Baron Oil (AIM: BOIL), the AIM-quoted oil and gas exploration company focused on opportunities in SE Asia, Latin America and the UK, announces an initial grant of Enterprise Management Incentive (EMI) share options to Hugh Jonathan Ford, the Company's recently appointed Technical Director.\n \n \n The EMI is an HMRC approved tax efficient option scheme that enables companies to attract and retain key staff by rewarding them with equity participation in the business. The scheme is open to all Baron employees who qualify under the HMRC rules.\n \n \n Accordingly, the Company has today granted share options over a total of 75,000,000 ordinary shares of 0.025 pence each in the Company (\"Share Options\") to Hugh Jonathan Ford. These vested options have a 10 year life from the date of grant and an exercise price of 0.1p. This is a premium of 25% to the mid-market share price at the close on 9 November 2020 but also matches the Placing Price of the Baron funding round in Q1 2020, which included a £7,500 cash subscription by Mr Ford. This will increase the fully diluted option pool to 7.95%.\n \n \n The FCA notification in respect of the above, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.\n \n For further information, please contact:\n \n \n \n Baron Oil Plc\n \n \n +44 (0)20 7117 2849\n \n \n \n \n Andy Yeo\n \n \n \n \n \n \n \n Chief Executive Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Allenby Capital Limited\n \n \n +44 (0)203 328 5656\n \n \n \n \n Nominated Adviser and Joint Broker\n \n \n \n \n \n \n \n Alex Brearley, Nick Harriss, Nick Athanas\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Turner Pope Investments (TPI) Limited\n \n \n +44 (0)20 3657 0050\n \n \n \n \n Joint Broker\n \n \n \n \n \n \n \n Andy Thacker, Zoe Alexander\n \n \n &nb...