Business
Grant of Options
Grant of Options.
About this update from Westmount Energy Limited
[{"type":"text","content":"\n \n \n RNS Number : 2942V\n Westmount Energy Limited\n 06 August 2020\n \n \n \n \n 6 August 2020\n \n \n WESTMOUNT ENERGY LIMITED\n \n \n (\"Westmount\" or the \"Company\")\n \n \n Grant of Options\n \n \n Westmount Energy Limited (AIM: WTE), the energy investment company, announces a grant of options over nil par value ordinary shares in the Company (\"Share Options\") to the following director:\n \n \n \n \n \n \n \n \n \n Director\n \n \n \n \n No. of Share\n \n \n Options granted\n \n \n \n \n \n \n \n Exercise Price\n \n \n \n \n Expiration Date\n \n \n \n \n \n \n Dermot Corcoran\n \n \n \n \n 750,000\n \n \n \n \n 17.0 pence per share\n \n \n \n \n 31 July 2023\n \n \n \n \n \n \n \n \n \n \n \n \n The Share Options may, at any time before expiry, be exercised in whole or in multiples of not less than 5,000 nil par value ordinary shares in the Company (\"Ordinary Shares\"). Ordinary Shares issued as a result of any such exercise may be sold (subject to applicable laws and the AIM Rules for Companies) at any time including, but not limited to, a takeover or change of control of the Company.\n \n \n \n \n \n Following the above grants, Mr Corcoran will have beneficial interests in Ordinary Shares and Share Options as noted below:\n \n \n \n \n \n \n \n \n \n Director\n \n \n \n \n No. of Ordinary Shares\n \n \n \n \n \n \n \n Approx. % of Share Capital\n \n \n \n \n No. of Share Options\n \n \n \n \n \n \n \n \n \n Dermot Corcoran\n \n \n \n \n 5,250,000\n \n \n \n \n 4.17\n \n \n \n \n 1,750,000\n \n \n \n \n \n \n \n \n \n \n \n \n As Mr Corcoran is a director of the Company, the grant of Share Options is deemed to be a related party transaction pursuant to rule 13 of the AIM Rules for Companies. The Board of Westmount, excluding Mr Corcoran, having consulted with Cenkos Securities plc as the Company's Nominated Adviser, considers the terms of this transaction to be fair and reasonable insofar as the Company's shareholders are concerned.\n \n \n \n \n \n Following the above grant of Share Options, the Company has a total of 4,500,000 Share Options outstanding, representing approximately 3.5% of the Company's fully diluted issued share capital.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n For further information, please con...