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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rockhopper Exploration Plc | LSE:RKH | London | Ordinary Share | GB00B0FVQX23 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.925 | -6.92% | 12.45 | 12.65 | 12.95 | 13.00 | 12.00 | 12.00 | 544,920 | 10:09:41 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 652k | 35.55M | 0.0598 | 2.08 | 73.98M |
TIDMRKH
RNS Number : 0663K
Rockhopper Exploration plc
13 April 2015
13 April 2015
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Exercise of Share Options, Allotment of Shares and Awards under Long Term Incentive Plan
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region makes the following announcements in relation to the Unapproved Employee Share Option Scheme (the "ESOS") and the Long Term Incentive Plan 2013 (the "LTIP"):
Exercises of option and allotment of shares
The Company has been notified of the following exercises of option on 10(th) April 2015 pursuant to the ESOS:
Name Number of shares Exercise price subject to per share option ---------------- ----------------- --------------- Sam Moody (CEO) 1,500,000 42 pence ---------------- ----------------- --------------- Pierre Jungels 1,500,000 42 pence (Chairman) ---------------- ----------------- ---------------
The Company has also been notified of an exercise of option on 10(th) April 2015 by an ex-director in respect of 525,000 shares at an exercise price of 42 pence per share.
All of the exercised options were due to expire in August 2015 and the optionholders have elected to exercise in one of the few remaining open periods prior to their expiry.
Mr Moody elected to sell 1,236,472 shares and Dr Jungels elected to sell 1,222,827 shares to discharge the cost of exercise and any tax and national insurance obligations. On 13(th) April 2015, these shares were purchased by the Rockhopper Employee Benefit Trust (the "EBT"), which was established in 2013 for the purpose of holding shares to satisfy future exercises of options and vesting of awards under the LTIP. The 2,459,299 shares are being acquired by the EBT by way of an off market purchase at a price of 63.25 pence being the closing share price on the date prior to exercise. The remaining shares have been retained by Mr Moody and Dr Jungels who now hold:
Name Number of Number of % of issued shares retained shares held share capital following held exercise ---------------- ----------------- ------------- --------------- Sam Moody 263,528 2,013,553 0.68 ---------------- ----------------- ------------- --------------- Pierre Jungels 277,173 1,394,817 0.47 ---------------- ----------------- ------------- ---------------
The EBT also purchased 434,565 shares from the ex-director at a price of 63.25 pence per share, the proceeds of which were used to satisfy his tax and national insurance obligations.
Application has been made for the admission of 3,525,000 new ordinary shares of 1p each ("New Ordinary Shares") to trading on AIM pursuant to the exercise of share options. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company.
Following the issue of the New Ordinary Shares, the issued share capital will comprise 296,451,305 ordinary shares.
The New Ordinary Shares are due to be admitted to trading on AIM on 17 April 2015.
LTIP awards
The Company announces that on 13 April 2015 certain Directors were granted awards in the form of options to acquire the number of Shares in the capital of the Company under the Company's Long Term Incentive Plan (LTIP) which has been operated annually since its approval by shareholders at the 2013 Annual General Meeting.
Details of the awards are shown below:
Name Number of options under award ------------------------- ------------------------ Sam Moody (CEO) 855,354 ------------------------- ------------------------ Stewart MacDonald (CFO) 701,575 ------------------------- ------------------------ Fiona MacAulay (COO) 750,591 ------------------------- ------------------------
The awards are structured as nil-cost options and will normally vest on 31 March 2018 subject to each director's continued employment. The percentage of awards which will vest will be dependent on total shareholder return measured against a peer group of companies over a three year period ending 31 March 2018. Performance measurement for these awards will be based on the Company's average share price over the 90 day dealing period to 31 March 2015 measured against the 90 day dealing period to 31 March 2018. Once vested the awards will normally remain exercisable for a period of seven years subject to the rules of the LTIP regarding leavers.
A summary of the LTIP is included in the 2013 AGM notice which can be found on the Company's website.
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7016 9571
Jan Davies - Company Secretary
Canaccord Genuity Limited (NOMAD and Joint Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
This information is provided by RNS
The company news service from the London Stock Exchange
END
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