TIDMNTOG

RNS Number : 6620V

Nostra Terra Oil & Gas Company PLC

30 October 2014

AIM: NTOG

30 October 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Grant of Performance-Related Options

On 29 October 2014, the Board of Nostra Terra, the AIM quoted oil and gas company with a growing portfolio of assets in production and development in the USA, agreed, in accordance with the Company's ongoing director incentivisation scheme, to award 90,000,000 performance-related options ("Options") to the Directors.

The total numbers of Options granted to each of Matt Lofgran (Chief Executive Officer), Alden McCall (Chief Operating Officer) and Stephen Oakes (Non-Executive Director), together with the vesting conditions, are as follows:

 
                    No. of Options granted and vesting     Total number 
                                conditions                  of Options 
                                                              granted 
                      (A)           (B)          (C) 
                 ------------  ------------  -----------  ------------- 
 
 Matt Lofgran      15,000,000    10,000,000   15,000,000     40,000,000 
                 ------------  ------------  -----------  ------------- 
 Alden McCall      15,000,000    10,000,000   15,000,000     40,000,000 
                 ------------  ------------  -----------  ------------- 
 Stephen Oakes      3,750,000     2,500,000    3,750,000     10,000,000 
                 ------------  ------------  -----------  -------------

The Options granted pursuant to vesting condition:

   (A)       shall vest immediately upon grant;

(B) shall vest subject to certain performance criteria relating to the spudding of a well on the Company's White Buffalo project; and

(C) shall vest subject to the Company's mid-market share price closing at 1.0p or above for a minimum of ten consecutive business days.

All of the Options are exercisable at 0.4 pence per share and, subject to the attaching vesting conditions, are exercisable for a ten year period from the date of grant.

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

   mlofgran@ntog.co.uk                                         Telephone: +1 480 993 8933

Northland Capital Partners Ltd

(Nominated Adviser)

   Matthew Johnson / Lauren Kettle                         Telephone: +44 (0)20 7382 1100

Hume Capital Securities plc

(Broker)

   Jon Belliss / Abigail Wayne                                Telephone: +44 (0)20 3693 1470

Lothbury Financial Services Limited

   Gary Middleton / Michael Padley                         Telephone: +44 (0)20 3440 7620

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSXKLLLZBFFFBL

Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Nostra Terra Oil And Gas Charts.
Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Nostra Terra Oil And Gas Charts.