Star Energy Group plc has awarded in aggregate 1,999,000 nil cost options over shares in the company to its directors.
PLANS
Chief executive officer Ross Glover received 300,000 awards and chief financial officer Frances Ward received 225,000 under Star’s 2015 management retention plan.
Under its 2016 executive incentive plan, Mr Glover received a further 525,000 and Ms Ward 395,000 options.
Four non-executive directors were each granted 90,000 options in the first tranche of awards, on condition that the share price is 14p.
In the second tranche NED Philip Jackson will receive 65,000 options while 43,000 options while NEDs of Kate Coppinger, Antony White and Aneliya Erdly will each be awarded 43,000.
The price payable in respect of the exercise of an option is 0.002 pence per share.
Star’s oil and gas assets, located onshore East Midlands and Weald Basin in Southern England, comprise 28 fields with more than 90 sites in total producing mainly oil.