Nostra Terra Oil & Gas Company PLC Award of Share Options (1172Q)
04 June 2018 - 4:01PM
UK Regulatory
TIDMNTOG
RNS Number : 1172Q
Nostra Terra Oil & Gas Company PLC
04 June 2018
4 June 2018
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Award of Share Options
Nostra Terra (AIM:NTOG), the oil and gas exploration and
production company, is pleased to announce an award of share
options to certain directors, employees and consultants over
ordinary shares in the Company of 0.1 pence each ("Ordinary
Shares"). The award has been designed to only reward improved share
price performance over the short and long term.
Accordingly, the Board has approved the grant of an additional
11,500,000 new share options over Ordinary Shares ("New Share
Options") with an exercise price of 5 pence ("Exercise Price"). The
Exercise Price of the New Share Options represents a 30 per cent.
premium to the closing mid-market price of an Ordinary Share on 1
June 2018.
The New Share Options for the Board will only vest once the
share price reaches 8 pence per Ordinary Share for 10 consecutive
trading days, a 108 per cent premium to the closing mid-market
price of an Ordinary Share on 1 June 2018. The New Share Options
for employees and consultants will vest one year from the date of
the award.
Details of the share options awarded to the Board (the "Director
Options") are set out below:
Ewen Ainsworth (Non-Executive Chairman) 2,000,000
Matt Lofgran (CEO) 6,000,000
John Stafford (Non-Executive Director) 1,500,000
Following the issue of the Director Options, Ewen Ainsworth,
Matt Lofgran, and John Stafford, are interested in 4,000,000
options, 12,800,000 options, and 2,250,000 share options over
Ordinary Shares, respectively. In addition, as previously
disclosed, Mr Ainsworth is interested in 1,000,000 warrants
exercisable at 8.77 pence per Ordinary Share (as adjusted for the
2016 share consolidation). Of these warrants 333,333 are held
directly and 666,667 are held by Discovery Energy Limited, a
company controlled by Mr Ainsworth.
Matt Lofgran and Ewen Ainsworth have interests in the Company of
5,975,976 Ordinary Shares and 3,079,267 Ordinary Shares (921,886 of
which are held by Mr Ainsworth directly and 2,157,381 by Discovery
Energy Limited), respectively.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas
Company plc
Matt Lofgran, CEO +1 480 993 8933
Strand Hanson Limited
(Nominated Adviser and Joint +44 (0) 20 7409
Broker) 3494
Rory Murphy / Ritchie Balmer
/ Jack Botros
Smaller Company Capital +44 (0) 20 3651
Limited (Joint Broker) 2910
Rupert Williams / Jeremy Woodgate
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
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