Leyshon Energy Limited Allocation of Performance Rights (2792K)

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RNS Number : 2792K

Leyshon Energy Limited

23 June 2014

23 June 2014

Performance Rights Allocation

Leyshon Energy Limited ("the Company") today announces that it has allocated 25,000,000 Performance Rights to Directors and Employees of the Company in accordance with its Performance Rights Plan published on 28 May 2014 and approved by the Shareholders at the Company's AGM on 12 June 2014.

The Performance Rights will vest and entitles the holder to be granted one ordinary share in the Company by each Performance Right vesting for nil consideration.

The Performance Rights will vest in two tranches based on share price appreciation as follows:

-- Tranche 1: 18 months from the approval of Performance Rights Plan, 50% of the Performance Rights will vest if share price has exceeded a 150% increase in the share price over the share price at the time of the approval of the Performance Rights Plan.

-- Tranche 2: 36 months from the approval of Performance Rights Plan, 50% of the Performance Rights will vest if share price has exceeded a 300% increase in the share price over the share price at the time of the approval of the Performance Rights Plan.

The following Performance Rights were granted to the Directors:

   Director                              Number of Performance Rights 
   Paul Atherley                                    5,000,000 
   Anthony Meggs                                4,000,000 
   John Manzoni                                   3,000,000 
   Kim Howell                                        3,000,000 

For further information please contact:

Leyshon Energy Limited

Peter Niu Company Secretary

Tel: + 86 10 8444 2882

[e-mail]

Cantor Fitzgerald Europe

David Porter/Rick Thompson (Nominated Adviser)

Richard Redmayne (Corporate broking)

Tel: [phone]

   -   ENDS   - 

This information is provided by RNS

The company news service from the London Stock Exchange

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