Tethys Petroleum Limited: Issuance of Shares and Grant of Options
(firmenpresse) - GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwired) -- 01/23/15 -- Tethys Petroleum Limited ("Tethys" or the "Company") (TSX: TPL) (LSE: TPL) announces the issuance of shares and the grant of options under the Company's Long-Term Share Incentive Plan ("LTSIP").
Issuance of shares
In accordance with the provisions of the UK Listing Rules and Disclosure and Transparency Rule 3.1.2R ("DTR 3"), the Company announces that it has today issued 90,478 restricted ordinary shares to its Executive Chairman, John Bell as part of his salary since being appointed on 26 November 2014.
Under the terms of the service contract entered into between a subsidiary of the Company and John Bell, during the first year of his service, 30% of John Bell's salary shall be paid in restricted ordinary shares in the Company. These restricted ordinary shares shall rank pari passu to other ordinary shares in Tethys (and shall not represent a separate class of shares of Tethys) but are subject to certain contractual restrictions, including that they may not be transferred for a period of one year from the date of John Bell's appointment, subject to certain exempt circumstances resulting in early release. The total number of restricted ordinary shares that may be issued to John Bell as part of his salary during the first year of service (being up to 507,719 ordinary shares representing approximately 0.15% of the Company's issued share capital) has been calculated by reference to a price of 16.84p, being the average closing price of ordinary shares of Tethys during the 15 days prior to the date of his appointment.
Application has been made for such restricted ordinary shares to be admitted to the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange. Following the issuance of these restricted ordinary shares John Bell will hold interests in a total of 90,478 ordinary shares in the Company, representing approximately 0.03% of the Company's issued share capital.
Full details of John Bell's remuneration will be provided in the Management Information Circular that will be published in connection with the Company's forthcoming annual general meeting.
Grant of options pursuant to the LTSIP
The Company announces in accordance with the provisions of DTR 3 that each of the persons set out below, each being a Person Discharging Managerial Responsibility ("PDMR") of the Company (and together representing all of the PDMRs of the Company for the purposes of DTR 3), has today been granted the following options over ordinary shares of US$0.10 each in the capital of the Company pursuant to the LTSIP:
As a result of the above, the PDMRs hold options over the following (aggregate) numbers of ordinary shares of the Company:
Contacts:
Clive Oliver
Corporate Secretary, Vice President Finance
+44 1481 716899
Tethys Investor Relations
Sabin Rossi
Vice President Investor Relations
Web:
Twitter:
FirstEnergy Capital LLP
Hugh Sanderson
Jonathan Wright
David van Erp
+44 207 448 0200
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Datum: 23.01.2015 - 19:07 Uhr
Sprache: Deutsch
News-ID 366609
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contact information:
Town:
GRAND CAYMAN, CAYMAN ISLANDS
Kategorie:
Oil & Gas
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