Option Amendment

RNS Number : 9346H
Empyrean Energy PLC
13 June 2017
 

Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas

13 June 2017

Empyrean Energy PLC ('Empyrean' or 'the Company')

 

Option Amendment

 

Empyrean confirms that, on 12 June 2017, the Board approved the amendments to the terms of the outstanding options (the "Options") in respect of 45,000,000 ordinary shares of 0.2p each in the Company ("Ordinary Shares") in accordance with the terms of the agreement entered into between the Company and Macquarie Bank Limited, the original option holder, in respect of the Options on 30 May 2012 (the "Option Agreement"). The Option Agreement provides for adjustments to the option price in the event of a pro rata issue of shares (other than a bonus issue). Accordingly, as a result of the open offer originally announced 4 April 2017, the amended terms of the Options are set out below:

 

Number of Options

Original Exercise Price

Exercise Price

Expiry Date

15,000,000

2.1 pence

2.0 pence

19 July 2017

15,000,000

4.1 pence

4.0 pence

25 March 2018

15,000,000

2.1 pence

2.0 pence

26 July 2019

 

As announced on 13 March 2017, the Options are currently owned by Apnea Holdings Pty Ltd ("Apnea"), a company which is wholly-owned by Tom Kelly, CEO of Empyrean.

 

**ENDS**

 

Empyrean Energy plc

Tom Kelly


Tel: +61 8 9481 0389





Cenkos Securities plc

Neil McDonald


Tel: +44 (0) 131 220 9771

Beth McKiernan


Tel: +44 (0) 131 220 9778

Nick Tulloch


Tel: +44 (0) 131 220 9772





St Brides Partners Ltd

Lottie Brocklehurst


Tel: +44 (0) 20 7236 1177

Olivia Vita


Tel: +44 (0) 20 7236 1177



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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