Amerisur Resources PLC Long Term Incentive Plan ("LTIP") Awards (0456Z)
May 23 2016 - 9:31AM
UK Regulatory
TIDMAMER
RNS Number : 0456Z
Amerisur Resources PLC
23 May 2016
23 May 2016
Amerisur Resources Plc ("Amerisur" or the "Company")
Long Term Incentive Plan ("LTIP") Awards
Amerisur Resources Plc ("Amerisur" or the "Company"), the oil
and gas producer and explorer focused on South America, announces
that on 20 May 2016 it granted awards under the Long Term Incentive
Plan adopted in 2011, to all staff and Directors in respect of a
total of 11,300,000 ordinary shares (the "Awards"), representing
0.9% of the issued share capital.
Name Awards Vesting Total options following
date this grant
--------------- ----------- --------- ------------------------
Staff 5,000,000 May 2019 12,876,141
--------------- ----------- --------- ------------------------
John Wardle 4,200,000 May 2019 24,340,000
--------------- ----------- --------- ------------------------
Giles Clarke 1,100,000 May 2019 9,900,000
--------------- ----------- --------- ------------------------
Nick Harrison 1,000,000 May 2019 9,800,000
--------------- ----------- --------- ------------------------
Total 11,300,000 56,916,141
--------------- ----------- --------- ------------------------
Half of the Awards are subject to an absolute total shareholder
return performance condition whereby 30% of this portion will vest
if 10% compound annual returns are achieved, measured at the end of
the three-year performance period and 100% will vest if 20%
compound annual returns are achieved, with straight line vesting
between these points. The base price for the share price growth is
27.5p being the average of closing price for the 3 calendar days
prior to grant.
Half of the Awards are subject to a comparative total
shareholder return performance condition whereby 30% of this
portion will vest at median performance, measured against the
comparator group at the end of the three-year performance period
and 100% will vest at upper quartile performance, with straight
line vesting between these points.
The Company consulted with major shareholders prior to making
this award. This award follows the passing of the Company's
remuneration report at its Annual General Meeting earlier this
month.
Stephen Foss, Senior Independent Director and Chairman of the
Remuneration Committee said:
"I would like to thank shareholders for their engagement on this
process."
Ends
ENQUIRIES:
Billy Clegg/Georgia Tel: +44 (0)203 757 4980
Mann
Camarco
Callum Stewart/Ashton Tel: +44 (0)20 7710 7600
Clanfield
Stifel Nicolaus
Europe Limited
Chris Sim/George Tel: +44 (0)207 597 4000
Price
Investec
Darrell Uden/Daniel Tel: +44 (0)207 653 4000
Conti
RBC Capital Markets
This information is provided by RNS
The company news service from the London Stock Exchange
END
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