TIDMLEK
RNS Number : 3731X
Lekoil Limited
09 August 2018
9 August 2018
Lekoil Limited
("LEKOIL" or the "Company")
Award of Options to Directors and PDMRs
LEKOIL (AIM: LEK), the oil and gas exploration and production
company with a focus on Nigeria and West Africa, announces that the
Company has made the following awards of options over ordinary
shares of par value US$0.00005 each in the capital of the Company
("Ordinary Shares") to Directors under the Long Term Incentive Plan
for the CEO and CFO, and the Non-Executive Director Share Plan for
the Non-Executive Directors:
Options Existing
Director Position granted options Total options
-------------------- ------------------------- ---------- ----------- --------------
Olalekan Akinyanmi Chief Executive Officer 2,500,000 11,223,000 13,723,000
Lisa Mitchell Chief Financial Officer 1,500,000 1,500,000 3,000,000
Samuel Adegboyega Non-executive Chairman 100,000 950,000 1,050,000
Aisha Oyebode Non-executive Director 100,000 387,500 487,500
John Van Der Welle Non-executive Director 100,000 387,500 487,500
Hezekiah Adesola
Oyinlola Non-executive Director 100,000 200,000 300,000
Gregory Eckersley Non-executive Director 100,000 1,362,500 1,462,500
Tom Schmitt Non-executive Director 100,000 - 100,000
The Company has also made awards of options over Ordinary Shares
under the Long Term Incentive Plan for the following members of the
senior management team that the Company has designated as persons
discharging managerial responsibilities ("PDMRs"):
Options Existing
Name Position granted options Total options
------------------- ----------------------------- --------- ---------- --------------
Adeleke Adedipe Chief Operating Officer 300,000 1,500,000 1,800,000
Samuel Olotu Chief Technical Officer 375,000 7,325,000 7,700,000
Dotun Adejuyigbe GM, Commercial 250,000 2,650,000 2,900,000
U. Hamilton Esi GM, Communications 150,000 1,230,000 1,380,000
Gloria Iroegbunam GM, Legal 200,000 2,200,000 2,400,000
Kike Fajemirokun Head, HR and Administration 150,000 1,000,000 1,150,000
Shola Adekeye MD, LEKGAS 200,000 600,000 800,000
In addition, 2,005,000 options over Ordinary Shares are being
made available to other eligible employees under the Long Term
Incentive Plan.
All options issued under these awards are being issued with an
exercise price of 19.73p, being the trailing three day average
closing price prior to the date of grant. Options have a three-year
vesting period from the date of award and a seven year expiry from
when the options vest.
The Directors currently have the following interests in ordinary
shares in addition to the options set out above:
% of issued
Director Position Number of shares share capital
--------------------- ------------------------- ----------------- ---------------
Olalekan Akinyanmi Chief Executive Officer 39,332,551 7.3
Lisa Mitchell Chief Financial Officer - -
Samuel Adegboyega Non-executive Chairman 1,160,000 0.2
Aisha Oyebode Non-executive Director 256,250 0.1
John Van Der
Welle Non-executive Director - -
H. Adesola Oyinlola Non-executive Director 632,431 0.1
Gregory Eckersley Non-executive Director 3,003,050 0.5
Tom Schmitt Non-executive Director - -
For further information, please visit www.lekoil.com or
contact:
LEKOIL Limited
Alfred Castaneda, Investor Relations
Lisa Mitchell, Chief Financial Officer +44 20 7920 3150
Strand Hanson Limited (Financial &
Nominated Adviser)
James Harris / James Spinney / Ritchie
Balmer +44 20 7409 3494
Mirabaud Securities Limited (Joint
Broker) +44 20 7878 3362 / +44 20
Peter Krens / Edward Haig-Thomas 7878 3447
BMO Capital Markets (Joint Broker)
Jeremy Low / Neil Haycock / Thomas
Rider +44 20 7236 1010
Numis Securities (Joint Broker)
John Prior / Ben Stoop +44 20 7260 1000
Tavistock (Financial PR)
Simon Hudson / Barney Hayward / Charles
Vivian +44 20 7920 3150
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
-ends-
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END
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