Fortune Oil PLC Directors' shares vested in the EBT (7067T)

TIDMFTO

RNS Number : 7067T

Fortune Oil PLC

22 November 2013

22 November 2013

FORTUNE OIL PLC

("Fortune Oil" or "the Company")

Directors' shares vested in the EBT

On 20 June 2013 certain awards under the Company's long term incentive plan came to their third anniversary. On the third anniversary the beneficiary of the award has the right to exercise his or her option and receive delivery of the ordinary shares or carry them forward in the Company's Employee Benefit Trust (EBT). Tee Kiam Poon and Li Ching, two directors of the Company, were on this date unable to exercise their option as the Company was in a close period. The Company now being in an open period, they have decided to exercise their options.

The following table details the individual ordinary share interest movements as a result of these decisions made today.

 
 Directors       No. of shares    Performance Period   Decision 
                  vested in EBT    2009/2012 
 
                                   Exercise period 
 TEE Kiam Poon   1,199,580        13 October 2012      Remove from the 
                                   -12 October 2019     EBT and certificate 
                                                        in his name 
                ---------------  -------------------  --------------------- 
      LI Ching   1,659,840        24 June 2012         Remove from the 
                                   -                    EBT and certificate 
                                   23 June 2019         in her name 
                ---------------  -------------------  --------------------- 
                                  Performance Period 
                                   2010/2013 
 
                                   Exercise period 
                ---------------  -------------------  --------------------- 
 TEE Kiam Poon     834,784        18 June 2013         Remove from the 
                                   -                    EBT and certificate 
                                   17 June 2020         in his name 
                ---------------  -------------------  --------------------- 
      LI Ching     662,088        18 June 2013         Remove from the 
                                   -                    EBT and certificate 
                                   17 June 2020         in her name 
                ---------------  -------------------  --------------------- 
 

Resulting interests in Ordinary Shares

Following these decisions and taking into account the effects of the decisions taken which will become effective when their names are recorded on to the Company's share register each relevant director now has the following interest in Ordinary Shares in the Company:

 
              Number         Percentageof   Number           Percentage   Total          Percentage 
               of ordinary    issued         of shares        of issued    number         of issued 
               shares         class          vested           class        of unvested    class 
               held in                       fully            held         shares         held 
               the Company                   and held         in EBT       held in        in EBT 
                                             in the                        the EBT 
                                             EBT including 
                                             additional 
                                             shares, 
                                             where 
                                             applicable 
 Directors 
             -------------  -------------  ---------------  -----------  -------------  ----------- 
 TEE Kiam 
  Poon           2,034,364          0.07%                0            0      1,724,977        0.07% 
             -------------  -------------  ---------------  -----------  -------------  ----------- 
 LI Ching       23,091,152          0.89%                0            0      2,183,585        0.84% 
             -------------  -------------  ---------------  -----------  -------------  ----------- 
 

Enquiries:

Fortune Oil PLC

   Bill Mok, Chief Financial Officer                       Tel: [phone] (Hong Kong) 

Pelham Bell Pottinger

   Archie Berens                                                   Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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