Alkane Energy PLC Award of Performance Shares (0770S)
September 18 2014 - 12:05PM
UK Regulatory
TIDMALK
RNS Number : 0770S
Alkane Energy PLC
18 September 2014
18 September 2014
Alkane Energy plc
("Alkane" or "the Company")
Award of Performance Shares
Alkane announces that on 18 September 2014, a total of 758,173
performance shares were awarded under the Alkane Energy plc
Employee Performance Share Plan ("Performance Share Plan"),
including 662,519 to the following directors:
Share options Performance Share options Share options
and performance shares and performance and performance
shares awarded shares shares
held prior under the held after held as
to the Performance the award % of issued
award Share Plan share capital
----------------------- --------------------- ----------------- --------------------- ---------------------
Neil O'Brien,
Chief Executive
Officer 3,887,102 371,442 4,258,544 2.91%
----------------------- --------------------- ----------------- --------------------- ---------------------
Steve Goalby,
Finance Director 1,796,145 291,077 2,087,222 1.43%
----------------------- --------------------- ----------------- --------------------- ---------------------
The Performance Share Plan awards are in respect of ordinary
shares of 0.5p each, with a subscription price of 0.5p per share.
Subject to certain performance conditions, the performance shares
are exercisable on 31 March 2017. A maximum of 50% of the award
will vest if the Company's share price increases from a base of
39.0p to agreed levels on the vesting date. A maximum of a further
50% of the award will vest if the Company's adjusted profit per
share (on a fully diluted basis) increases from that reported in
the year ended 31 December 2013 to agreed levels in the year ended
31 December 2016. In respect of both conditions, the awards will
vest in proportion to the level of achievement, with no shares
vesting if the cumulative increase per annum is less than 10% and
the maximum number of shares vesting if the cumulative increase per
annum is 15% or greater.
Neil O'Brien's current shareholding is 749,000 ordinary shares
of 0.5p each, representing approximately 0.51% of the existing
issued share capital. Steve Goalby's current shareholding is
700,717 ordinary shares of 0.5p each, representing approximately
0.48% of the existing issued share capital.
Enquiries:
Alkane Energy plc Tel: +44 (0) 1623 827927
Neil O'Brien/Steve Goalby
Liberum Tel: +44 (0) 20 3100
Clayton Bush/Tim Graham 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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