REG - Petro Matad Ltd - Directors' Dealing <Origin Href="QuoteRef">MATD.L</Origin>

Petro MatadAnnouncement

25/07/2015 09:41

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RNS Number : 5744T
Petro Matad Limited
21 July 2015 
 
21 July 2015 
 
Petro Matad Limited 
 
("Petro Matad" or the "Company") 
 
Directors' Dealing 
 
Further to the Company's announcement of 7 May 2014, the current non-executive
directors of Petro Matad Limited, the AIM quoted Mongolian oil explorer, have
again agreed that for the six months from 1 October 2014 to 31 March 2015, a
period when the Company was significantly cash constrained,  they have
continued to forego their usual director fees and in lieu of cash will receive
conditional share awards under the Company's existing long term equity plan,
thus creating further savings for the Company. The delay in award of the
conditional share awards until the current time is as a result of the Company
being in successive closed periods since October 2014. Following completion of
the Company's farm-out to BG Group plc, the non-executive directors will be
paid their directors' fees from 1 April 2015 onwards. 
 
The conditional share awards vest immediately and participants have until 31
March 2016 to exercise these awards for an exercise price of US$0.01 per Petro
Matad ordinary share. An aggregate of 1,993,520 conditional share awards were
awarded to the non-executive directors of the Company on 20 July 2015, as set
out below. 
 
 Director           Number of Conditional Share Awards awarded in lieu of fees  
 Oyungerel Janchiv  498,380                                                     
 Enkhmaa Davaanyam  498.380                                                     
 Philip Vingoe      498.380                                                     
 Ridvan Karpuz      498.380                                                     
 
 
About Petro Matad Limited 
 
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 the sole operatorship of three Production Sharing Contracts
with the Government of Mongolia. Block XX has an area of 10,340 km² in the far
eastern part of the country, and Blocks IV and V have an area of 28,900 km2
and 21,100 km2, respectively, in the southwest 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. 
 
Further Information: 
 
Petro Matad Limited 
 
John Henriksen, CFO 
 
+976 11 331099 
 
NOMAD and Broker 
 
Westhouse Securities Limited 
 
Alastair Stratton / Martin Davison 
 
+44 (0)20 7601 6100 
 
This information is provided by RNS
The company news service from the London Stock Exchange