REG - Obtala Limited - Share Option Awards / Director dealing <Origin Href="QuoteRef">OBT.L</Origin>

WoodboisAnnouncement

03/10/2017 07:01

RNS Number : 4807S
Obtala Limited
03 October 2017
3 October 2017
Obtala Limited
("Obtala", the "Group" or the "Company")
(AIM: OBT)
Additional Share Option Awards/Director dealing
Obtala Limited (AIM:OBT), the African focused agricultural and forestry company, is pleased to provide the following update.
Share Option Awards
The Company has approved the issue of share option awards to recently appointed management, including a further award to Deputy Chairman, Martin Collins, who was previously awarded 1m options as per the announcement of 5 July 2017. Share option awards were made on the following structure within the company's existing approved share scheme:
Vesting Date Trigger Price Award Amounts
30 June 2018 20p 2.625m options
30 June 2019 25p 2.625m options
30 June 2020 30p 2.625m options
30 June 2021 35p 2.625m options
 The share options only become exercisable upon the Obtala monthly VWAP stock price being above the trigger price for 3 consecutive months at or after the vesting date.
 All tranches of the above options expire on 30thJune 2026 regardless of whether they have been exercisable or not.
 The exercise price for the options is 17.62p.
 If the awardee is not in the employment of a Group company at the time of vesting then the awards are forfeit.
The awards will be distributed to management on the following basis:
Martin Collins Deputy Chairman 750k per tranche (3m total)
Hadi Ghossein Deputy Chairman of Argento Limited 625k per tranche (2.5m total)
Jacob Hansen Director of Argento Limited 625k per tranche (2.5m total)
Zahid Abbas Director of Argento Limited 625k per tranche (2.5m total)
Directors Holding
Further to the announcement of 28th September 2017, Martin Collins has a total interest in Obtala ordinary 1p shares of 1,750,000, of which 1,500,000 are held through his company, Moghle Ltd, and 250,000 are held collectively by Martin and his wife. In addition, Moghle Ltd holds 6,733 Argento Preference Shares.
Miles Pelham, Chairman of Obtala commented: "The further issue of performance based compensation to management underlines our commitment to appropriate and adequate incentivisation of employees which aligns interests with all stakeholders". 
Due to recent leavers forfeiting their share options the net issuance of options today is 6.5m shares."
Obtala Limited
Miles Pelham - Chairman
Paul Dolan - CEO
www.obtala.com
+44 (0)20 7099 1940
ZAI Corporate Finance Limited (Nomad)
John Treacy / Ray Zimmerman
+44 (0)20 7060 2220
Brandon Hill Capital (Joint Broker)
Jonathan Evans
Beaufort Securities Limited (Joint Broker)
Jon Belliss
+44 (0)20 3463 5000
+44 (0)20 7382 8300
This announcement contains information which was previously inside information forthe purposes of Article 7 of the Market Abuse Regulation EU Regulation 596/2014.

This information is provided by RNS
The company news service from the London Stock Exchange
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