Leyshon Energy Limited Allocation of Performance Rights (2792K)
June 23 2014 - 7:41AM
UK Regulatory
TIDMLEN
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
admin@leyshonenergy.com
Cantor Fitzgerald Europe
David Porter/Rick Thompson (Nominated Adviser)
Richard Redmayne (Corporate broking)
Tel: +44 207 894 7000
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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