Wentworth Resources Plc Wentworth Resources Plc : Ltip Announcement

 
TIDMWEN 
 
 
 
 
 
 
 
PRESS RELEASE  12 June 2019 
 
 
 
 
 
 
   WENTWORTH RESOURCES PLC 
 
   ("Wentworth" or the "Company") 
 
 
 
   Long Term Incentive Plan ("LTIP") Awards 
 
 
 
   Wentworth, the (AIM: WEN) listed independent, East Africa-focused oil & 
gas company, is pleased to make the following announcement. 
 
 
 
   On 10 June 2019 an award under the Long-Term Incentive Plan ("LTIP") was 
made to Richard Tainton as set out below. 
 
 
 
 
 
 
                                                                Total options 
                                                                following the 
Name              Role              LTIP award  Vesting date        Grant 
Richard Tainton   Country Manager      495,422  13 March 2022        1,195,422 
 
 
 
 
   The awards are subject to a three-year performance period which runs 
from 14 March 2019 to 13 March 2022 (the "Performance Period"). The 
awards are further subject to claw back and malus provisions. 
 
 
 
   The performance condition for the awards is share price growth over the 
Performance Period, with 25% of the award vesting if the Company's share 
price at the end of the Performance Period has increased by an 8% 
compounded annual growth rate, and 100% of the award vesting if the 
share price has increased by a 16% compound annual growth rate. Should 
the share price increase between 8% and 16%, awards will vest on a 
linear sliding scale between 25% and 100%. 
 
 
 
   -Ends- 
 
 
 
 
 
 
             Eskil Jersing,                          [e-mail] 
              Chief Executive Officer                           [phone] 
Enquiries:    Katherine Roe,                          [e-mail] 
 Wentworth    Chief Financial Officer                           [phone] 
 
Stifel       AIM Nominated Adviser and Broker (UK) 
 Nicolaus     Callum Stewart 
 Europe       Ashton Clanfield 
 Limited      Simon Mensley                                           [phone] 
 
             Broker (UK) 
Peel Hunt     Richard Crichton 
 LLP          Ross Allister                                           [phone] 
 
             Investor Relations Adviser (UK) 
              Patrick d'Ancona 
Vigo          Chris McMahon                                           [phone] 
 
 
 
 
 
 
   About Wentworth Resources 
 
 
 
   Wentworth Resources is a publicly traded (AIM: WEN), independent oil & 
gas company with natural gas production, exploration and appraisal 
opportunities in the Rovuma Delta Basin of coastal southern Tanzania. 
 
 
 
   Inside Information 
 
 
 
   The information contained within this announcement is deemed by 
Wentworth to constitute inside information as stipulated under the 
Market Abuse Regulation (EU) no. 596/2014 ("MAR"). On the publication of 
this announcement via a Regulatory Information Service ("RIS"), this 
inside information is now considered to be in the public domain. 
 
 
 
   Cautionary note regarding forward-looking statements 
 
 
 
   This press release may contain certain forward-looking information. The 
words "expect", "anticipate", believe", "estimate", "may", "will", 
"should", "intend", "forecast", "plan", and similar expressions are used 
to identify forward looking information. 
 
 
 
   The forward-looking statements contained in this press release are based 
on management's beliefs, estimates and opinions on the date the 
statements are made in light of management's experience, current 
conditions and expected future development in the areas in which 
Wentworth is currently active and other factors management believes are 
appropriate in the circumstances. Wentworth undertakes no obligation to 
update publicly or revise any forward-looking statements or information, 
whether as a result of new information, future events or otherwise, 
unless required by applicable law. 
 
 
 
   Readers are cautioned not to place undue reliance on forward-looking 
information. By their nature, forward-looking statements are subject to 
numerous assumptions, risks and uncertainties that contribute to the 
possibility that the predicted outcome will not occur, including some of 
which are beyond Wentworth's control. These assumptions and risks 
include, but are not limited to: the risks associated with the oil and 
gas industry in general such as operational risks in exploration, 
development and production, delays or changes in plans with respect to 
exploration or development projects or capital expenditures, the 
imprecision of resource and reserve estimates, assumptions regarding the 
timing and costs relating to production and development as well as the 
availability and price of labour and equipment, volatility of and 
assumptions regarding commodity prices and exchange rates, marketing and 
transportation risks, environmental risks, competition, the ability to 
access sufficient capital from internal and external sources and changes 
in applicable law. Additionally, there are economic, political, social 
and other risks inherent in carrying on business in Tanzania. There can 
be no assurance that forward-looking statements will prove to be 
accurate as actual results and future events could vary or differ 
materially from those anticipated in such statements. 
 
   LTIP Announcement: http://hugin.info/136496/R/2245931/887291.pdf 
 
   This announcement is distributed by West Corporation on behalf of West 
Corporation clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Wentworth Resources Plc via Globenewswire 
 
 
  https://www.wentplc.com 
 

(END) Dow Jones Newswires

June 12, 2019 04:48 ET (08:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.