RNS Number : 6537P
Sound Oil PLC
26 October 2012
26 October 2012
Sound Oil plc
("Sound Oil" or "the Company")
Grant of Options
The Company announces that on 26 October 2012 options over a total of 13,000,000 new ordinary shares of the Company were granted to the following directors (the "Options"), following their new appointments:
| Director | Position | Number of Options granted |
| Andrew Hockey | Non-executive Chairman | 3,000,000 |
| James Parsons | Chief Executive Officer | 10,000,000 |
The Options have an exercise price of 1.65 pence per share, approximating to 0.5 pence above the closing mid-market price of the Company's shares on 25 October 2012. One third of the Options are immediately exercisable, one third after twelve months and the final third after twenty-four months, with all Options lapsing after four years from the date of grant.
For further information please contact:
| Sound Oil James Parsons, Chief Executive Officer
| j.parsons@soundoil.co.uk
|
| Smith & Williamson - Nominated Adviser Azhic Basirov David Jones
| Tel: 44 (0)20 7131 4000 |
| Westhouse Securities - Broker Antonio Bossi Jonathan Haines
| Tel: 44 (0)20 7601 61005 |
| Buchanan Tim Thompson Helen Chan Tom Hufton
| Tel: 44 (0)20 7466 5000
|
This information is provided by RNS
The company news service from the London Stock Exchange