Issue of options to directors
(Thomson Reuters ONE) - Faroe Petroleum plc (the "Company") Issue of options to directorsOn 23 July 2009 the Company's Board of Directors, on therecommendation of the Remuneration Committee, which is comprisedwholly of non-executive directors, made a grant of share options overordinary shares of 10p each in the share capital of the Company("Ordinary Shares") under the 2003 Faroe Petroleum Share OptionScheme (the "Scheme"), to the following executive directors: Name Position Options Exercise Exercise period No. price (p)G.D.Stewart Chief Executive 570,600 69.0 23.07.12 - 22.07.19H.A.Hammer Technical Director 400,500 69.0 23.07.12 - 22.07.19The exercise price of each option is 69.0 pence per ordinary sharebeing the closing mid-market price for the Ordinary Shares on 22 July2009. The exercise of the options is subject to performance criteriato be satisfied over a period of a minimum of three years. Noconsideration was paid by the recipients for the grant of the aboveoptions.Following these grants, Graham Stewart and Helge Hammer have totaloptions over ordinary shares, exercisable at various prices up to159.25 pence, under the Scheme and the Faroe Petroleum plcCo-Incentive Plan as follows: Name No. of options G.D.Stewart 3,251,944 H.A.Hammer 1,055,448In addition to the options listed above Graham Stewart holds anoption to acquire 74,216 ordinary shares under the Faroe Petroleumplc Long Term Incentive Plan.24 July 2009Enquiries:Faroe Petroleum plc Julian Riddick, Tel: 01224 652 810 Company SecretaryPanmure Gordon (UK) Limited Katherine Roe Tel: 020 7459 3600 Callum Stewart---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 24.07.2009 - 12:27 Uhr
Sprache: Deutsch
News-ID 3954
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