RNS Number : 8276D
Sound Oil PLC
29 March 2011
| For immediate release | 29 March 2011 |
Sound Oil PLC
("Sound Oil" or "the Company")
Grant of Options
The Company announces that on 28 March 2011 options over a total of 9,500,000 new ordinary shares of the Company were granted to the following directors (the "Options"), as part of the Company's share option programme for senior staff after the successful acquisition of Consul Oil & Gas.
The Options have an exercise price of 5.6 pence per share, approximating to the closing mid-market price of the Company's shares on 25 March 2011. The Options are exercisable for five years from the date of grant, after which the Options will lapse, and the exercise of the Options is not conditional.
| Director | Position | Number of Options granted |
| Gerry Orbell | Chairman | 7,500,000 |
| Ilham Habibie | Non-executive director | 1,000,000 |
| Michael Nobbs | Non-executive director | 1,000,000 |
In addition to the Options above, the above directors hold the below interests in the share capital of the Company. No other Options have been granted.
| Director | Ordinary shares held |
| Ilham Habibie | 147,288,696 |
| Gerry Orbell | 12,241,418 |
| Michael Nobbs | 1,945,545 |
For further information please contact:
| Sound Oil Gerald Orbell, Chief Executive Tony Heath, Finance Director |
Tel: 44 (0)1372 371010 Tel: 44 (0)1372 371010
|
| Buchanan Communications Tim Thompson Ben Romney Chris McMahon
| Tel: 44 (0)207 466 5000
|
| finnCap Sarah Wharry Henrik Persson | Tel: 44 (0)207 600 1658 |
This information is provided by RNS
The company news service from the London Stock Exchange