TIDMPTR
RNS Number : 5585Y
Petroneft Resources PLC
23 December 2010
PetroNeft Resources plc
Issue of Shares
As detailed in the 2009 annual report certain directors have elected to receive a portion of their remuneration in shares. On 23 December 2010 shares were issued to the following directors in respect of each of the four quarters ending 30 September 2010.
% of entire
Number of shares Total number of issued share
Director issued shares held capital
--------------- ----------------- ---------------- --------------
Paul Dowling 14,052 206,583 0.05%
--------------- ----------------- ---------------- --------------
Thomas Hickey 28,669 1,726,283 0.42%
--------------- ----------------- ---------------- --------------
Total 42,721
--------------- ================= ================
Application will be made to the London Stock Exchange and the Irish Stock Exchange for the above Shares to be admitted to trading on AIM and IEX, with Admission expected to occur on 5 January 2011.
Issue of Options
On 15 December 2010, options over ordinary shares of nominal value EUR0.01 ('Options') were awarded to directors of the Company in accordance with the Company's share option scheme. The exercise price of these options is the closing price of the ordinary
shares of the Company on the AIM market of the London Stock Exchange on 14 December 2010 which was STGGBP0.66. The options will only vest once certain time and total shareholder return conditions have been met. The earliest any of the options can vest is
15 December 2012.
Total number of Options
Director Number of Options issued held
----------------- ------------------------- ------------------------
David Golder 120,000 735,000
----------------- ------------------------- ------------------------
Dennis Francis 330,000 1,870,000
----------------- ------------------------- ------------------------
Paul Dowling 280,000 1,135,000
----------------- ------------------------- ------------------------
David Sanders 280,000 1,720,000
----------------- ------------------------- ------------------------
Gerard Fagan 150,000 150,000
----------------- ------------------------- ------------------------
Thomas Hickey 100,000 443,000
----------------- ------------------------- ------------------------
Vakha Sobraliev 80,000 635,000
----------------- ------------------------- ------------------------
Total 1,190,000 5,458,000
----------------- ========================= ========================
For further information please contact:
Paul Dowling, CFO, PetroNeft Resources plc +353 1 443 3720
John Frain/Brian Garrahy, Davy (NOMAD and
Joint Broker) +353 1 679 6363
This information is provided by RNS
The company news service from the London Stock Exchange
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