Europa Oil & Gas (Holdings) plc has awarded in total more than 6.5 million share options to its new chief executive officer and certain employees of the company.
The board of directors agreed to issue options over 4,000,000 ordinary shares of 1 penny to William Holland, and 2,520,000 to certain employees.
Europa made the awards under its existing enterprise management incentive share option plan and determined the figures by a mix of salary percentage and fixed amounts.
The share options, which have an exercise price of 1.1418 pence per ordinary share, shall vest in three equal tranches after each of 12, 24 and 36 months and are valid until 22 March 2029.