Angus Energy plc granted 30 million share options under its existing employee incentive schemes to its employees.
The company said that the grant, from 19 January, reflected the management’s efforts in achieving successful operations at the Saltfleetby gas field.
The share options have an exercise price of 0.67 pence per share and a 10-year term from the date of issue.
Angus added that its proposed £20 million loan facility and offtake agreement with Trafigura was progressing well and expected to conclude with satisfaction of conditions precedent and drawdown within four weeks.