Mosman Oil and Gas Limited Notice of AGM and Share Option Scheme (9109W)
November 20 2017 - 1:00AM
UK Regulatory
TIDMMSMN
RNS Number : 9109W
Mosman Oil and Gas Limited
20 November 2017
20 November 2017
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Notice of Annual General Meeting and Share Option Scheme
Mosman Oil and Gas Limited (AIM: MSMN), the oil exploration,
development and production company, is pleased to advise that the
Notice of Annual General Meeting has been dispatched to
shareholders today. At the Annual General Meeting, the Company will
be seeking shareholder approval to establish a Company Share Option
Plan and grant options to certain Directors, key employees and
consultants of Mosman. These new share options are expected to be
issued at an exercise price being the higher of 2p or a 35% premium
to the 5 day VWAP prior to the AGM ("New Share Options").
The options proposed under the grant are as follows:
Name Position Number of New Share
New Share Options as
Options to a % of total
be granted existing shares
in issue
--------------- -------------------- ------------ -----------------
Mr John Barr Executive Chairman 3,000,000 1.00%
--------------- -------------------- ------------ -----------------
Mr Andrew
Carroll Technical Director 3,000,000 1.00%
--------------- -------------------- ------------ -----------------
Non-Executive
Mr John Young Director 1,500,000 0.50%
--------------- -------------------- ------------ -----------------
Mr Jarrod Chief Financial
White Officer 1,000,000 0.33%
--------------- -------------------- ------------ -----------------
Mr Howard US Operations
McLaughlin Manager 750,000 0.25%
--------------- -------------------- ------------ -----------------
The Annual General Meeting will be held at 11.00am on 18
December 2017 at Suite 305, Level 3, 35 Lime Street, Sydney NSW
2000 Australia (EDST).
As Directors of the Company John Barr, Andrew Carroll and John
Yong are classified as related parties under the AIM Rules and
therefore the grant of New Share Options to each of them is
classified as a related party transaction for the purposes of Rule
13 of the AIM Rules. Given that no Directors are deemed to be
independent of the grant of the New Share Options, the Company's
Nominated Adviser, SP Angel Corporate Finance LLP, considers that
the terms of the related party transaction are fair and reasonable
insofar as the shareholders of the Company are concerned.
The Explanatory Memorandum and Proxy Forms are available on the
Company's website: www.mosmanoilandgas.com
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive SP Angel Corporate Finance
Chairman LLP
Andy Carroll, Technical Stuart Gledhill / Richard
Director Hail / Soltan Tagiev
jwbarr@mosmanoilandgas.com +44 (0) 20 3470 0470
acarroll@mosmanoilandgas.com
Gable Communications
Limited
John Bick / Justine James
+44 (0) 20 7193 7463
mosman@gablecommunications.com
Updates on the Company's activities are regularly posted on its
website: www.mosmanoilandgas.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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