Solo Oil Plc Issue of Options (9270N)
November 01 2016 - 03:00AM
UK Regulatory
TIDMSOLO
RNS Number : 9270N
Solo Oil Plc
01 November 2016
1 November 2016
Solo Oil plc
('Solo' or 'the Company')
Issue of Options
Solo Oil plc today announces that it has issued a total of
212,500,000 options representing 3.04 per cent. of the Company's
issue share capital to directors and a joint broker ("the
Options").
The Options have (i) an exercise price of 0.35p per share
(representing an approximate 50% premium to the closing price on 28
October), (ii) a 5 year term, and (iii) only vest once the 30 day
volume-weighted average price of the Company's shares exceeds
0.50p.
Details of Directors' Options and shares are as follow:
Name New Options Existing Ordinary Total % of
issued Options shares issued
held capital
------------ ------------ ----------- ----------- ------------ ---------
N. Ritson 50,000,000 54,000,000 33,000,000 147,000,000 2.10
------------ ------------ ----------- ----------- ------------ ---------
D. Maling* 65,000,000 - - 65,000,000 0.93
------------ ------------ ----------- ----------- ------------ ---------
F. Jenkins 50,000,000 15,000,000 - 65,000,000 0.93
------------ ------------ ----------- ----------- ------------ ---------
D. Strang 40,000,000 - - 40,000,000 0.57
------------ ------------ ----------- ----------- ------------ ---------
* appointed 10 August 2016
In addition to the Directors' Options detailed above, 7,500,000
options have been issued to Beaufort Securities Limited with the
same exercise and vesting conditions in part consideration of their
services as a joint broker.
Following these issues, the Company has 623,952,777 outstanding
options in total, representing approximately 8.93 per cent. of the
existing issued share capital.
For further information:
Solo Oil plc
Neil Ritson
Daniel Maling +44 (0) 20 3794 9230
Beaumont Cornish
Nominated Adviser and
Joint Broker
Roland Cornish +44 (0) 20 7628 3396
Shore Capital
Joint Broker
Jerry Keen
Beaufort Securities
Joint Broker
Jon Belliss
Cassiopeia Services
Ltd
Investor and Media +44 (0) 20 7408 4090
Relations +44 (0) 20 7382 8300
Stefania Barbaglio +44 (0) 79 4969 0338
This information is provided by RNS
The company news service from the London Stock Exchange
END
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