Petro Matad Limited LTIP Conditional Share Awards (7894E)
February 14 2018 - 1:01AM
UK Regulatory
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
+97 670 141 099 / +97 675 751
Mike Buck, CEO 099
NOMAD and Joint Broker
Stockdale Securities Limited +44 (0)20 7601 6100
Richard Johnson / El Hanan Lee
Joint Broker
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Callum Stewart/Nicholas Rhodes/Ashton
Clanfield
Communications Advisory Firm
FTI Consulting +44 (0)20 3727 1521
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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