Award of Options to Directors and PDMRs
9 August 2018
Lekoil Limited
("LEKOIL" or the "Company")
Award of Options to Directors and PDMRs
LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company has made the following awards of options over ordinary shares of par value US$0.00005 each in the capital of the Company ("Ordinary Shares") to Directors under the Long Term Incentive Plan for the CEO and CFO, and the Non-Executive Director Share Plan for the Non-Executive Directors:
|
Director |
Position |
Options granted |
Existing options |
Total options |
|
Olalekan Akinyanmi |
Chief Executive Officer |
2,500,000 |
11,223,000 |
13,723,000 |
|
Lisa Mitchell |
Chief Financial Officer |
1,500,000 |
1,500,000 |
3,000,000 |
|
Samuel Adegboyega |
Non-executive Chairman |
100,000 |
950,000 |
1,050,000 |
|
Aisha Oyebode |
Non-executive Director |
100,000 |
387,500 |
487,500 |
|
John Van Der Welle |
Non-executive Director |
100,000 |
387,500 |
487,500 |
|
Hezekiah Adesola Oyinlola |
Non-executive Director |
100,000 |
200,000 |
300,000 |
|
Gregory Eckersley |
Non-executive Director |
100,000 |
1,362,500 |
1,462,500 |
|
Tom Schmitt |
Non-executive Director |
100,000 |
- |
100,000 |
The Company has also made awards of options over Ordinary Shares under the Long Term Incentive Plan for the following members of the senior management team that the Company has designated as persons discharging managerial responsibilities ("PDMRs"):
|
Name |
Position |
Options granted |
Existing options |
Total options |
|
Adeleke Adedipe |
Chief Operating Officer |
300,000 |
1,500,000 |
1,800,000 |
|
Samuel Olotu |
Chief Technical Officer |
375,000 |
7,325,000 |
7,700,000 |
|
Dotun Adejuyigbe |
GM, Commercial |
250,000 |
2,650,000 |
2,900,000 |
|
U. Hamilton Esi |
GM, Communications |
150,000 |
1,230,000 |
1,380,000 |
|
Gloria Iroegbunam |
GM, Legal |
200,000 |
2,200,000 |
2,400,000 |
|
Kike Fajemirokun |
Head, HR and Administration |
150,000 |
1,000,000 |
1,150,000 |
|
Shola Adekeye |
MD, LEKGAS |
200,000 |
600,000 |
800,000 |
In addition, 2,005,000 options over Ordinary Shares are being made available to other eligible employees under the Long Term Incentive Plan.
All options issued under these awards are being issued with an exercise price of 19.73p, being the trailing three day average closing price prior to the date of grant. Options have a three-year vesting period from the date of award and a seven year expiry from when the options vest.
The Directors currently have the following interests in ordinary shares in addition to the options set out above:
|
Director |
Position |
Number of shares |
% of issued share capital |
|
Olalekan Akinyanmi |
Chief Executive Officer |
39,332,551 |
7.3 |
|
Lisa Mitchell |
Chief Financial Officer |
- |
- |
|
Samuel Adegboyega |
Non-executive Chairman |
1,160,000 |
0.2 |
|
Aisha Oyebode |
Non-executive Director |
256,250 |
0.1 |
|
John Van Der Welle |
Non-executive Director |
- |
- |
|
H. Adesola Oyinlola |
Non-executive Director |
632,431 |
0.1 |
|
Gregory Eckersley |
Non-executive Director |
3,003,050 |
0.5 |
|
Tom Schmitt |
Non-executive Director |
- |
- |
For further information, please visit www.lekoil.com or contact:
|
LEKOIL Limited Alfred Castaneda, Investor Relations Lisa Mitchell, Chief Financial Officer
|
+44 20 7920 3150
|
|
Strand Hanson Limited (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer
|
+44 20 7409 3494
|
|
Mirabaud Securities Limited (Joint Broker) Peter Krens / Edward Haig-Thomas
|
+44 20 7878 3362 / +44 20 7878 3447 |
|
BMO Capital Markets (Joint Broker) Jeremy Low / Neil Haycock / Thomas Rider
|
+44 20 7236 1010 |
|
Numis Securities (Joint Broker) John Prior / Ben Stoop
|
+44 20 7260 1000 |
|
Tavistock (Financial PR) Simon Hudson / Barney Hayward / Charles Vivian |
+44 20 7920 3150 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
-ends-
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