Clontarf Energy plc has granted long-term incentive share options to directors and senior management over a total 300,000,000 ordinary shares of 0.01p each in the company.
The options, with an exercise price of 0.10p and an expiry date of 30 July 2030, vest immediately.
The exercise price represents a premium of 11.11% to the closing price on 31 July 2023, being the last trading day before the award of the options.
PDMRs*
Chairman David Horgan received 115 million options; non-executive director Peter O’Toole (75m); financial director and company secretary James Finn (75m); and financial controller Dipti Mehta (35m).
Following the grant of options, a total of 500,500,000 long-term incentive options are outstanding, representing approximately 9.63% of the company’s issued share capital.
Clontarf has a 60% working interest in the Tano block in Ghana, a memorandum on the Chad basin (both oil), and signed a joint venture in 2023 for direct lithium extraction in Bolivia.
*persons discharging managerial responsibilities