LEK Lekoil Limited

TIDMLEK

RNS Number : 2602R

Lekoil Limited

08 December 2016

8 December 2016

Lekoil Limited

("Lekoil" or the "Company")

Award of Options

Lekoil (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company has made the following awards of options over ordinary shares of par value US$0.00005 each in the capital of the Company to Directors under the Long Term Incentive Plan for the CEO and the Non-Executive Director Share Plan for the Non-Executive Directors, which were approved by shareholders at the Company's AGM held on 8 August 2016:

 
 Director              Position                    Options    Existing        Total 
                                                   granted     options      options 
--------------------  ------------------------  ----------  ----------  ----------- 
                       Chief Executive 
 Olalekan Akinyanmi     Officer                  2,600,000   8,623,000   11,223,000 
 Samuel Adegboyega     Non-executive Chairman      100,000     850,000      950,000 
 Gregory Eckersley     Non-executive Director      100,000   1,262,500    1,362,500 
 Aisha Oyebode         Non-executive Director      100,000     287,500      387,500 
 John Van Der 
  Welle                Non-executive Director      100,000     287,500      387,500 
 H. Adesola 
  Oyinlola             Non-executive Director      100,000     100,000      200,000 
 

All options issued under this award are being issued with an exercise price of 21.13p.

The Directors currently have the following interests in ordinary shares in addition to the options set out above:

 
 Director              Position                   Number of      % of issued 
                                                     shares    share capital 
--------------------  ------------------------  -----------  --------------- 
                       Chief Executive 
 Olalekan Akinyanmi     Officer                  41,868,293             8.6% 
 Samuel Adegboyega     Non-executive Chairman     1,160,000             0.2% 
 Gregory Eckersley     Non-executive Director     2,903,050             0.5% 
 Aisha Oyebode         Non-executive Director       256,250             0.1% 
 John Van Der          Non-executive Director             -               -% 
  Welle 
 H. Adesola 
  Oyinlola             Non-executive Director       632,431             0.1% 
 

For further information, please visit www.lekoil.com or contact:

 
LEKOIL Limited 
 Alfred Castaneda, Investor 
 Relations                                    +44 20 3434 5800 
 Hamilton Esi, Corporate Communications       +44 20 7920 3150 
Strand Hanson Limited (Financial 
 & Nominated Adviser) 
 James Harris / James Spinney 
 / Ritchie Balmer                             +44 20 7409 3494 
Mirabaud Securities LLP (Joint 
 Broker)                                      +44 20 7878 3362 / 
 Peter Krens / Edward Haig-Thomas             +44 20 7878 3447 
BMO Capital Markets (Joint 
 Broker) 
 Vicary Gibbs / Neil Haycock 
 / Thomas Rider                               +44 20 7236 1010 
Tavistock (Financial PR) 
 Simon Hudson / Barney Hayward 
 / Merlin Marr-Johnson                        +44 20 7920 3150 
 

-ends-

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 08, 2016 02:05 ET (07:05 GMT)

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