REG - Petro Matad Ltd - Award of Conditional Share Awards

Petro MatadAnnouncement

23/12/2019 07:05

RNS Number : 7409X
Petro Matad Limited
23 December 2019
 


THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
 
23 December 2019
Petro Matad Limited
("Petro Matad" or the "Company")
Award of Conditional Share Awards
 
The Company notifies that on 18 December 2019 grants of 14,926,000 conditional share awards ("CSAs") under the Company's Long-Term Equity Incentive Plan ("LTIP") were approved to be made to Directors and certain employees. The CSAs have been granted as an element of Director and employee compensation, in recognition of the achievement of performance objectives and the salary freeze that has been in effect for several years as part of the Company's strategy to conserve cash.
The CSAs will vest immediately, and participants have until 18 December 2020 to exercise these awards for an acquisition price of US$0.01 equal to the nominal value of Petro Matad ordinary shares.  Awards granted to Directors of the Company are as follows:
 



Director


Conditional Share Awards




Enkhmaa Davaanyam


251,000




Shinezaya Batbold


151,000




Timothy Bushell


415,000




Mike Buck


4,455,000




John Henriksen


1,737,000



 
 
 
Further information please contact:



Petro Matad Limited


 




Mike Buck, CEO


+976 7014 1099 / +976 7575 1099




 


 




Shore Capital (Nominated Adviser and Broker)




Toby Gibbs
Jerry Keen
John More
 


+44 (0) 20 7408 4090




Stifel Nicolaus Europe Limited (Broker)


 




Callum Stewart
Nicholas Rhodes
Ashton Clanfield


+44 (0) 20 7710 7600




 
FTI Consulting (Communications Advisory Firm)




Sara Powell
Ben Brewerton


+44 (0) 20 3727 1000



 
About Petro Matad
Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds 100% working interest and the operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,367 square kilometres in the far eastern part of the country, and Blocks IV and V have an area of 29,062 square kilometres and 21,143 square kilometres, respectively, in the central western part of the country.
Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.




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