Alkane Energy PLC Award of Performance Shares (8999K)
21 Aprile 2015 - 4:46PM
UK Regulatory
TIDMALK
RNS Number : 8999K
Alkane Energy PLC
21 April 2015
21 April 2015
Alkane Energy plc
("Alkane" or "the Company")
Award of Performance Shares
Alkane announces that on 21 April 2015, a total of 1,692,751
performance shares were awarded under the Alkane Energy plc
Employee Performance Share Plan ("Performance Share Plan"),
including 1,317,751 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 3,069,686 738,788 3,808,474 2.46%
--------------------- ----------------- --------------------- ---------------------
Steve Goalby,
Finance Director 855,547 578,963 1,434,510 0.93%
--------------------- ----------------- --------------------- ---------------------
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 2018. A maximum of 50% of the award
will vest if the Company's share price increases from a base of
20.0p 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 2014 to agreed levels in the year ended
31 December 2017. 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.
The Company also confirm that 568,233 performance shares awarded
to Neil O'Brien and 445,300 performance shares awarded to Stephen
Goalby on 2 May 2012 have lapsed due to performance conditions not
being met ahead of their 31 March 2015 exercise date.
Neil O'Brien's current shareholding is 1,121,840 ordinary shares
of 0.5p each, representing approximately 0.73% of the existing
issued share capital. Steve Goalby's current shareholding is
1,074,381 ordinary shares of 0.5p each, representing approximately
0.69% of the existing issued share capital.
Enquiries:
Alkane Energy plc Tel: 01623 827927
Neil O'Brien/Steve Goalby
Liberum Tel: 020 3100 2000
Clayton Bush/Josh Hughes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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