BOR Borders & Southern Petroleum Plc

TIDMBOR

RNS Number : 9710K

Borders & Southern Petroleum plc

27 September 2016

27 September 2016

Borders & Southern Petroleum plc

("Borders & Southern" or "the Company")

Grant of Options

Borders & Southern Petroleum announces that its Remuneration Committee has granted Non-Executive Director, Nigel Hurst-Brown, options over 1,000,000 ordinary shares in the Company, under the Company's Discretionary Share Option scheme.

The share options, awarded on 27th September 2016, have an exercise price of 1.8 pence per Ordinary Share (being the closing price of the Ordinary Share on the dealing day immediately proceeding the date of grant). Options granted are not exercisable for a period of three years from date of grant and may then be exercised for a period of seven years thereafter.

Following the award of options, Nigel Hurst Brown's total interest is as follows:

 
                     Ordinary Shares       Option Shares 
 Nigel Hurst-Brown         1,530,000   1,250,000 options 
 

The current issued share capital of the Company is 484,098,404 ordinary shares.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the transaction described above.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
 a)   Name                       Nigel Hurst-Brown 
 2    Reason for notification 
 a)   Position / status          Non-Executive Director 
 b)   Initial notification       Initial 
       / amendment 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
 a)   Name                       Borders & Southern Petroleum 
                                  plc 
 b)   LEI                        (Pending) 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of             Share options over ordinary 
       the financial              shares of 1 pence each in 
       instrument, type           Borders & Southern Petroleum 
       of instrument              plc 
      Identification             ISIN: GB00B08F4599 
       code 
 b)   Nature of the              Grant of share options under 
       transaction                the Borders & Southern Petroleum 
                                  plc Discretionary Share 
                                  Option scheme, described 
                                  above 
 c)   Price(s) and volumes(s)     Price(s)     Volume(s) 
                                   1.8 pence    1,000,000 
 d)   Aggregated information     N/A 
 e)   Date of the transaction    2016-09-27 
 f)   Place of the transaction   London Stock Exchange, AIM 
                                  (XLON) 
 

For further information please visit www.bordersandsouthern.com or contact:

 
 Howard Obee                    Adam James / Atholl Tweedie 
-----------------------------  ---------------------------- 
 Borders & Southern Petroleum   Panmure Gordon (UK) Limited 
  plc 
-----------------------------  ---------------------------- 
 Tel: 020 7661 9348             Tel: 020 7886 2500 
-----------------------------  ---------------------------- 
 
 Simon Hudson 
-----------------------------  ---------------------------- 
 Tavistock 
-----------------------------  ---------------------------- 
 Tel: 020 7920 3150 
-----------------------------  ---------------------------- 
 

Notes:

Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% interest in three Production Licences in the South Falkland Basin covering an area of nearly 10,000 square kilometres. The Company has acquired 2,862 km of 2D seismic, 2,517 square kilometres of 3D seismic and drilled two exploration wells, making a gas condensate discovery (Darwin) with its first well. Management's previously reported un-risked base case (P50) resource estimate for the combined Darwin East and Darwin West structures, incorporating all proven and potential reservoirs, is 354 million barrels of recoverable condensate.

-ends-

This information is provided by RNS

The company news service from the London Stock Exchange

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