Petro Matad Limited LTIP Conditional Share Awards (7894E)

TIDMMATD

RNS Number : 7894E

Petro Matad Limited

14 February 2018

14 February 2018

Petro Matad Limited ("Petro Matad" or the "Company")

Awards of Conditional Share Awards

The Company notifies that on 13 February 2018 grants of 5,507,533 conditional share awards ("CSAs") under the Company's Long-Term Equity Incentive Plan ("LTIP") were approved to be made to certain Directors and employees. The CSAs have been granted as an element of Director compensation, as well as to partially compensate for the reductions in salaries and fees implemented by the Company in late 2016 as part of its strategy to preserve cash.

The CSAs will vest immediately and participants have until 13 February 2019 to exercise these awards for an exercise price of US$0.01 per Petro Matad ordinary share. Awards have been made to the following Directors of the Company:

 
 Director             Conditional Share 
                                 Awards 
-------------------  ------------------ 
 Enkhmaa Davaanyam              500,000 
-------------------  ------------------ 
 Oyungerel Janchiv               77,284 
-------------------  ------------------ 
 Timothy Bushell                500,000 
-------------------  ------------------ 
 John Henriksen                 500,000 
-------------------  ------------------ 
 Michael Buck                 1,000,000 
-------------------  ------------------ 
 

For more information, please contact:

 
 
   Petro Matad Limited 
                                          [phone] / [phone] 
 Mike Buck, CEO                            099 
 
 NOMAD and Joint Broker 
  Stockdale Securities Limited            [phone] 
 Richard Johnson / El Hanan Lee 
 
 Joint Broker 
  Stifel Nicolaus Europe Limited          [phone] 
 Callum Stewart/Nicholas Rhodes/Ashton 
  Clanfield 
 
 Communications Advisory Firm 
  FTI Consulting                          [phone] 
 Edward Westropp 
 

About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km(2) in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 14, 2018 02:01 ET (07:01 GMT)