REG - Nostra Terra O&G Co - Grant of Options <Origin Href="QuoteRef">NTOG.L</Origin>

Nostra Terra Oil and GasAnnouncement

30/10/2014 08:27

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 conditions
Total number 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