Amerisur Resources PLC Long Term Incentive Plan ("LTIP") Awards (1261W)
15 April 2019 - 4:01PM
UK Regulatory
TIDMAMER
RNS Number : 1261W
Amerisur Resources PLC
15 April 2019
15 April 2019
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 12 April 2019 it granted awards under the Long Term
Incentive Plan adopted in 2011, to all staff and two executive
Directors in respect of a total of 18,157,686 ordinary shares (the
"Awards"), representing 1.5% of the issued share capital.
Name Awards Vesting date Total options following
this grant
Staff 9,650,000 April 2022 24,440,000
----------- ------------------------ -----------------------------------
John Wardle 7,060,108 April 2022 23,756,136
----------- ------------------------ -----------------------------------
Nick Harrison 1,447,578 April 2022 6,618,192
----------- ------------------------ -----------------------------------
Total 18,157,686 54,814,328
----------- ------------------------ -----------------------------------
It is the aim of the Remuneration Committee to reward key
employees on a basis which is aligned to the performance of the
Company and as such a significant portion of remuneration is based
on performance. In line with this strategy, and as outlined on page
54 of Amerisur's annual report, the shares awarded to John Wardle,
CEO, and Nick Harrison, CFO, are subject to a two-year holding
period after the three-year performance period. The awards will be
subject to claw back and malus provisions.
In relation to the awards to directors, 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 13.83p being
the average market price for the 3 trading days prior to the grant
(calculated as the average volume weighted average price (VWAP)
over the period).
Half of the Awards to directors 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.
Ends
Enquiries:
Nathan Piper, Executive Vice President, Tel: +44(0)330 333
Head of Business Development and Comms 8273
Amerisur Resources
Billy Clegg/Kimberley Taylor Tel: +44 (0)203
757 4983
Camarco
Callum Stewart/Ashton Clanfield/Nicholas Tel: +44 (0)20 7710
Rhodes 7600
Stifel Nicolaus Europe Limited
Chris Sim/Alexander Ruffman / Tejas Tel: +44 (0)207
Padalkar 597 4000
Investec
Paul Shackleton / Dan Gee-Summons Tel: +44 (0)207
614 5900
Arden Partners Plc
This announcement contains inside information as defined in EU
Regulation No. 596/2014 and is in accordance with the Company's
obligations under Article 17 of that Regulation.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHGGURWCUPBPUC
(END) Dow Jones Newswires
April 15, 2019 02:01 ET (06:01 GMT)
Amerisur Resources (LSE:AMER)
Historical Stock Chart
From Apr 2024 to May 2024
Amerisur Resources (LSE:AMER)
Historical Stock Chart
From May 2023 to May 2024