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Fastnet Oil & Gas (FAST)

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Wednesday 20 August, 2014

Fastnet Oil & Gas

Director/PDMR Shareholding

RNS Number : 5639P
Fastnet Oil & Gas PLC
20 August 2014
 

Fastnet Oil & Gas plc

("Fastnet" or the "Company")

Grant of options

 

20 August 2014

 

The Company announces that options over a total of up to 5,000,000 new ordinary shares of 3.8 pence each in the Company ("Options") have today been awarded to Will Holland, Chief Financial Officer. The Options have an exercise price of 14 pence per ordinary share.

 

The Options vest in four tranches over the period to 1 May 2016 and lapse 2 years after vesting. The Options may only be exercised during the 2 year window if, during that period, the share price exceeds a specific performance target (as set out in the table below).

 

Options

Exercise Price

Vesting Date

Lapse date

Share Price Target

1,000,000

14p

1/10/2014

1/10/2016

17.5p

1,500,000

14p

1/5/2015

1/5/2017

21p

1,500,000

14p

1/11/2015

1/11/2017

24.5p

1,000,000

14p

1/5/2016

1/5/2018

31.5p

 

Will Holland currently does not have an interest in the ordinary shares of the Company.

 

For further information please contact:

Fastnet Oil & Gas plc

Cathal Friel, Chairman

Paul Griffiths, Managing Director

+353 (1) 644 0007

 

Shore Capital

Nomad

Bidhi Bhoma, Edward Mansfield

 

Corporate Broking

Jerry Keen

+44 (0) 20 7408 4090

 

GMP Securities Europe LLP

(Joint Broker)

Rob Collins, Emily Morris, Liz Williamson

 

+44 (20) 7467 2800

 

 

Davy

(ESM Adviser & Joint Broker)

John Frain, Anthony Farrell

 

+353 (1) 679 6363

 

Bell Pottinger

Philip Dennis, Rollo Crichton-Stuart, Jimmy Lea

 

+44 (0) 0203 772 2734

 

 


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