Enterprise Oil PLC
22 November 2001
Notifications under Listing Rule 16.13 in relation to Mr W. S. H. Laidlaw
Long Term Incentive Plan Award under the Restricted Share Scheme ('LTIP')
A conditional allocation of 116,884 ordinary shares of 25p each in the capital
of the Company was made today under the LTIP to Mr Laidlaw. The allocation
will only vest upon the achievement of certain performance targets over a
three year period commencing on 1 January 2001. No consideration is payable
either at allocation or on vesting of all or part of the shares.
Share Match
A conditional allocation of 200,000 ordinary shares of 25p each in the capital
of the Company was confirmed today under a share match scheme in respect of
which Mr Laidlaw is the sole participant. The allocation (together with a
maximum further allocation of shares to a value of not more than £18,900,
which must be matched by share purchases made by Mr Laidlaw before 30 November
2001) will only vest upon the achievement of certain performance targets over
a three year period commencing on 10 October 2001. No consideration is payable
either at allocation or on vesting of all or part of the shares.
Senior Executive Share Option Scheme
263,097 options over ordinary shares of 25 pence each in the capital of the
Company have, today, been granted to Mr Laidlaw at a price of 437.10 pence per
share. Further options valued at a maximum £1,150,000 will also be granted to
Mr Laidlaw before 30 April 2002. Mr Laidlaw may elect to postpone such award
beyond 30 April 2002 when the usual provisions regarding quantum of awards
will apply.
The options have been and will be granted under the Enterprise Oil (1995)
Approved Senior Executive Share Option Scheme and the Enterprise Oil (1995)
Unapproved Senior Executive Share Option Scheme, which require the
satisfaction of performance criteria before the options become capable of
exercise. The options are granted over shares held by the Trustee of the
Enterprise Oil Worldwide Employees Share Trust, registered in the name of
State Street Nominees Limited A/c XB3Y.
Shareholding
In addition to the above-noted options and conditional allocations, Mr Laidlaw
currently holds 200,000 ordinary shares of 25p each in the capital of the
Company registered in the name of NY Nominees Limited.
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