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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Altona | LSE:ANR | London | Ordinary Share | GB00BFZNKV91 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMANR Embargoed until 7.30am 23 November 2017 Altona Energy plc ("Altona" or the "Company") Board Changes and Grant of Options Altona (AIM:ANR) is pleased to announce that it has appointed current directors Nick Lyth and Phil Sutherland to the roles of Chief Executive and Operations Director (Australia) respectively. Mr Lyth and Mr Sutherland will, at present, receive no additional remuneration for these executive roles but have been granted new option packages to reflect their increased responsibility. The following share options have been granted to directors under the Company's existing share option scheme, created on 1 April 2016. The options to subscribe for ordinary shares will be granted under two performance criteria detailed below. All existing share options granted to directors or employees of the Company will be cancelled or will have lapsed unexercised. Share Price Performance Director Number of options Qinfu Zhang 30 million Phillip Sutherland 45 million Nicholas Lyth 90 million Ma Chi 15 million These options vest in three equal tranches, with the first tranche vesting on the grant of the options, the second tranche on the first anniversary after the date of grant and the balance vesting on the second anniversary of the date of grant. The exercise price is 0.5p per share and the options are exercisable when the share price reaches a price of 2.5 pence per share for a consecutive 14 day period. The exercise period is five years from the date of grant. Operational Performance Director Number of options Qinfu Zhang 17.5 million Phillip Sutherland 45 million Nicholas Lyth 22.5 million Ma Chi 5 million These options vest in two equal tranches, with the first tranche vesting on the announcement of the start of a drilling programme at the Company's Arckaringa project, and the second on the completion of a pre-feasibility study at Arckaringa. The exercise price is 0.5p. The exercise period is five years from the date of grant. The options, if all are exercised, represent 14.8 per cent. of the enlarged share capital following the placing announced earlier today. Related Party Transaction The grant of the share options to the above directors constitutes a related party transaction under AIM Rule 13. The independent director, being Henry Kloepper, having consulted with Northland Capital Partners Limited, the Company's nominated adviser, considers that the grant of the options are fair and reasonable in so far as the Company's shareholders are concerned. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Nick Lyth 2 Reason for the notification a) Position/status Chief Executive b) Initial notification /Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Altona Energy Plc b) Legal Entity Identifier 2138002A5GU9BFS2I491 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of Options over ordinary shares of instrument 0.01 pence each Identification code GB00B06GJT32 b) Nature of the transaction Grant of options c) Currency GBP d) Price(s) and volume(s) Price(s) Volume(s) Exercise price is 0.5p 112,500,000 e) Aggregated information - Aggregated volume - Price - Aggregated total f) Date of the transaction 23 November 2017 g) Place of the transaction London Stock Exchange, AIM 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Phil Sutherland 2 Reason for the notification a) Position/status Operations Director (Australia) b) Initial notification /Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Altona Energy Plc b) Legal Entity Identifier 2138002A5GU9BFS2I491 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of Options over ordinary shares of instrument 0.01 pence each Identification code GB00B06GJT32 b) Nature of the transaction Grant of options c) Currency GBP d) Price(s) and volume(s) Price(s) Volume(s) Exercise price is 0.5p 90,000,000 e) Aggregated information - Aggregated volume - Price - Aggregated total f) Date of the transaction 23 November 2017 g) Place of the transaction London Stock Exchange, AIM 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Qinfu Zhang 2 Reason for the notification a) Position/status Executive Chairman b) Initial notification /Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Altona Energy Plc b) Legal Entity Identifier 2138002A5GU9BFS2I491 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of Options over ordinary shares of instrument 0.01 pence each GB00B06GJT32 Identification code b) Nature of the transaction Grant of options c) Currency GBP d) Price(s) and volume(s) Price(s) Volume(s) Exercise price is 0.5p 47,500,000 e) Aggregated information - Aggregated volume - Price - Aggregated total f) Date of the transaction 23 November 2017 g) Place of the transaction London Stock Exchange, AIM 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Ma Chi 2 Reason for the notification a) Position/status Non-Executive Director b) Initial notification /Amendment Initial Notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Altona Energy Plc b) Legal Entity Identifier 2138002A5GU9BFS2I491 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a) Description of the financial instrument, type of Options over ordinary shares of instrument 0.01 pence each GB00B06GJT32 Identification code b) Nature of the transaction Grant of options c) Currency GBP d) Price(s) and volume(s) Price(s) Volume(s) Exercise price is 0.5p 20,000,000 e) Aggregated information - Aggregated volume - Price - Aggregated total f) Date of the transaction 23 November 2017 g) Place of the transaction London Stock Exchange, AIM This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. -ends- For further information, please visit www.altonaenergy.com or contact: Enquiries Altona Energy plc +44 (0)7769 906 686 Nick Lyth, CEO Leander (Financial PR) +44 (0)7795 168 157 Christian Taylor- Wilkinson Northland Capital Partners Ltd (Nomad and +44 (0)20 3861 6625 Broker)
Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes (Corporate Broking) END
(END) Dow Jones Newswires
November 23, 2017 02:30 ET (07:30 GMT)
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