TIDMAMER

RNS Number : 0456Z

Amerisur Resources PLC

23 May 2016

23 May 2016

Amerisur Resources Plc ("Amerisur" or the "Company")

Long Term Incentive Plan ("LTIP") Awards

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, announces that on 20 May 2016 it granted awards under the Long Term Incentive Plan adopted in 2011, to all staff and Directors in respect of a total of 11,300,000 ordinary shares (the "Awards"), representing 0.9% of the issued share capital.

 
 Name             Awards       Vesting    Total options following 
                                date       this grant 
---------------  -----------  ---------  ------------------------ 
 Staff            5,000,000    May 2019   12,876,141 
---------------  -----------  ---------  ------------------------ 
 John Wardle      4,200,000    May 2019   24,340,000 
---------------  -----------  ---------  ------------------------ 
 Giles Clarke     1,100,000    May 2019   9,900,000 
---------------  -----------  ---------  ------------------------ 
 Nick Harrison    1,000,000    May 2019   9,800,000 
---------------  -----------  ---------  ------------------------ 
 Total            11,300,000              56,916,141 
---------------  -----------  ---------  ------------------------

Half of the Awards are subject to an absolute total shareholder return performance condition whereby 30% of this portion will vest if 10% compound annual returns are achieved, measured at the end of the three-year performance period and 100% will vest if 20% compound annual returns are achieved, with straight line vesting between these points. The base price for the share price growth is 27.5p being the average of closing price for the 3 calendar days prior to grant.

Half of the Awards are subject to a comparative total shareholder return performance condition whereby 30% of this portion will vest at median performance, measured against the comparator group at the end of the three-year performance period and 100% will vest at upper quartile performance, with straight line vesting between these points.

The Company consulted with major shareholders prior to making this award. This award follows the passing of the Company's remuneration report at its Annual General Meeting earlier this month.

Stephen Foss, Senior Independent Director and Chairman of the Remuneration Committee said:

"I would like to thank shareholders for their engagement on this process."

Ends

ENQUIRIES:

 
Billy Clegg/Georgia    Tel: +44 (0)203 757 4980 
 Mann 
Camarco 
Callum Stewart/Ashton  Tel: +44 (0)20 7710 7600 
 Clanfield 
 Stifel Nicolaus 
 Europe Limited 
 
Chris Sim/George       Tel: +44 (0)207 597 4000 
 Price 
Investec 
 
Darrell Uden/Daniel    Tel: +44 (0)207 653 4000 
 Conti 
RBC Capital Markets

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

May 23, 2016 10:31 ET (14:31 GMT)

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