Altona Energy PLC Grant of Options (6029D)
March 31 2014 - 8:53AM
UK Regulatory
TIDMANR
RNS Number : 6029D
Altona Energy PLC
31 March 2014
31 March 2014
Altona Energy plc
("Altona Energy" or the "Company")
Grant of Options
Altona Energy, the AIM listed company, announces that the
Remuneration Committee has determined the grant of options over a
total of 54,000,000 Ordinary Shares in the Company to Directors,
other management and advisers and have been granted to align the
interests of Directors, management and advisers with those of
shareholders and encourage staff retention.
These options vest in two tranches and, subject to certain
performance conditions, are exercisable at prices of 1.5p and 3.0p,
compared to the mid-market price per Ordinary Share on AIM at the
close of business on 28 March 2014 of 1.0p:
Tranche A Tranche B
----------------------------- ----------- ----------- ----------- -----------
Grantee 1.5p 3p Total Expiry
----------------------------- ----------- ----------- ----------- -----------
Michael Zheng 7,500,000 7,500,000 15,000,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
Chris Lambert 7,500,000 7,500,000 15,000,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
Qinfu Zhang 1,750,000 1,750,000 3,500,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
Peter Fagiano 5,000,000 5,000,000 10,000,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
Phil Sutherland 1,500,000 1,500,000 3,000,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
Other Management / advisers 3,750,000 3,750,000 7,500,000 31-03-2019
----------------------------- ----------- ----------- ----------- -----------
TOTAL 27,000,000 27,000,000 54,000,000
----------------------------- ----------- ----------- ----------- -----------
Tranche A vests on the condition that the Company has entered
into a binding agreement with a third party to fund the Arckaringa
Coal to Methanol BFS ("performance condition A") and the option
holder is in employment of the Company at the time that performance
condition A is met.
Tranche B vests on the condition that the Company has completed
the test drilling program as part of the Arckaringa Coal to
Methanol BFS ("performance condition B") and the option holder is
in employment of the Company at the time that performance condition
B is met.
For further information, please visit www.altonaenergy.comor
contact:
Altona Energy Plc
Christopher Lambert, Chief Executive
Peter Fagiano, Executive Director +44 (0) 20 7024 8391
WH Ireland Ltd
Adrian Hadden
James Bavister +44 (0) 20 7220 1666
Old Park Lane Capital Plc
Michael Parnes +44 (0) 20 7493 8188
Tavistock Communications
Mike Bartlett
Simon Hudson +44 (0) 20 7920 3150
About Altona Energy
Altona Energy is listed on the London Stock Exchange's AIM
market. Its focus is firmly on the evaluation and development of
the Company's flagship coal-to-liquids Arckaringa Project to
exploit the huge coal resources contained in three exploration
licences covering 2,500 sq. kms in the northern portion of the
Permian Arckaringa Basin in South Australia. The Project is
designed to include a modern, combined-cycle power station adding
560Mw to the national grid and to produce clean burning fuel for
Australia and the world from a resource equivalent to 7.8 billion
barrels.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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