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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Amerisur Resources Plc | LSE:AMER | London | Ordinary Share | GB0032087826 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 19.18 | 19.18 | 19.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAMER
RNS Number : 8421L
Amerisur Resources PLC
23 April 2018
23 April 2018
Amerisur Resources Plc ("Amerisur" or the "Company")
Long Term Incentive Plan ("LTIP") Awards
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, announces that on 20 April 2018 it granted awards under the Long Term Incentive Plan adopted in 2011, to all staff and two executive Directors in respect of a total of 12,954,642 ordinary shares (the "Awards"), representing 1.1% of the issued share capital.
Name Awards Vesting Total options following date this grant --------------- ----------- -------- ------------------------ April Staff 6,300,000 2021 18,000,000 --------------- ----------- -------- ------------------------ April John Wardle 5,484,028 2021 16,696,028 --------------- ----------- -------- ------------------------ April Nick Harrison 1,170,614 2021 5,170,614 --------------- ----------- -------- ------------------------ Total 12,954,642 39,866,642 --------------- ----------- -------- ------------------------
It is the aim of the Remuneration Committee to reward key employees on a basis which is aligned to the performance of the Company and as such a significant portion of remuneration is based on performance. In line with this strategy, and as outlined on page 50 of Amerisur's annual report, the shares awarded to John Wardle, CEO, and Nick Harrison, CFO, are subject to a two-year holding period after the three-year performance period. The awards will be subject to claw back and malus provisions.
In relation to the awards to directors, half of the Awards are subject to an absolute total shareholder return performance condition whereby 30% of this portion will vest if 10% compound annual returns are achieved, measured at the end of the three-year performance period and 100% will vest if 20% compound annual returns are achieved, with straight line vesting between these points. The base price for the share price growth is 16.61p being the average market price for the 3 trading days prior to the grant (calculated as the average volume weighted average price (VWAP) over the period).
Half of the Awards to directors are subject to a comparative total shareholder return performance condition whereby 30% of this portion will vest at median performance, measured against the comparator group at the end of the three-year performance period and 100% will vest at upper quartile performance, with straight line vesting between these points.
Stephen Foss, Independent Director and Chairman of the Remuneration Committee said:
"The Long Term Incentive Plan links incentives to performance, aligning the Amerisur staff and executive with the interests of shareholders, who I would like to thank for their continued support."
Ends
Enquiries:
Billy Clegg/Georgia Edmonds Tel: +44 (0)203 757 4980 Camarco Callum Stewart/Ashton Clanfield/Nicholas Tel: +44 (0)20 Rhodes 7710 7600 Stifel Nicolaus Europe Limited Chris Sim/George Price Tel: +44 (0)207 597 4000 Investec Darrell Uden/Marcus Jackson Tel: +44 (0)207 653 4000 RBC Capital Markets
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
April 23, 2018 12:29 ET (16:29 GMT)
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