Registered Office change. Proposed options grant

RNS Number : 6516E

Saffron Energy PLC

13 February 2018

 

13 February 2018

Saffron Energy plc

("Saffron Energy" or the "Company")

Change of Company Secretary and Registered Office Address,

Share Option Scheme

Grant of Options

Registered Office Address

The Company announces that it has appointed AMBA Secretaries Limited as its Company Secretary and with immediate effect has changed its registered office to:

The Junction, Station Road, Watford WD17 1EU.

Share Option Scheme and Grant of Options

As part of the Company's Remuneration Policy to incentivise performance and align the interests of staff with those of shareholders, the Company announces that it has resolved to establish a Share Option Scheme and that it will make available under the scheme, subject to shareholder approval at a forthcoming general meeting, up to 20 million options to be issued to employees. 

The Company has also resolved to allocate a pool of up to 10 million options which will be utilised, subject to shareholder consent, in the event of further director appointments. The options will be issued on the same terms as those proposed to be issued to the current Saffron Energy directors, at a price of 4.38p per new Ordinary Share and will vest after 3 years and expire after 5 years.

The Company further intends to issue 5 million warrants, subject to shareholder consent, to select contractors which will be awarded at a price of 6.57p per new Ordinary Share.

For further information please contact:

Saffron Energy plc / Coro Energy plc Sara Edmonson, Chief Executive Officer James Parsons, Non-Executive Chairman	[e-mail] [e-mail]
Grant Thornton UK LLP (Financial and Nominated Adviser) Colin Aaronson Jen Clarke Harrison J Clarke	Tel: [phone]
Turner Pope Investments (TPI) Ltd (Broker) Ben Turner James Pope	Tel: [phone] [e-mail]

 

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