Angus Energy plc granted 175.5 million share options, representing 5.72% of the company’s issued share capital, to directors and staff.
SALTFLEETBY
The grant comes under the company’s existing employee incentive schemes.
In February 2021, the remuneration committee proposed the share options, which the board approved as part of Angus’s share option grants.
“This reflects the executive director’s and management’s efforts in bringing the company’s wholly owned Saltfleetby field into production earlier this year,” said Angus.
The conditional share options are for directors George Lucan: 40,000,000, Andrew Hollis: 30,000,000 and Carlos Fernandes: 30,000,000. Share options for other employees totalled 75,500,000.
The aggregate award to directors represents 3.46% of the company’s issued share capital.
EXERCISE
The share options have an exercise price of 2 pence per share (a premium of 23% to the closing price on 21 October 2022).
The share options have a four-year year term from the date of issue.
Following the grant of the share options, the total number outstanding will be 242,100,892 representing some 8.37% of the 2,891,664,391 ordinary shares in issue