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Petro Matad Ltd (MATD)

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Wednesday 14 February, 2018

Petro Matad Ltd

LTIP Conditional Share Awards

RNS Number : 7894E
Petro Matad Limited
14 February 2018
 

14 February 2018

Petro Matad Limited ("Petro Matad" or the "Company")

Awards of Conditional Share Awards

The Company notifies that on 13 February 2018 grants of 5,507,533 conditional share awards ("CSAs") under the Company's Long-Term Equity Incentive Plan ("LTIP") were approved to be made to certain Directors and employees. The CSAs have been granted as an element of Director compensation, as well as to partially compensate for the reductions in salaries and fees implemented by the Company in late 2016 as part of its strategy to preserve cash.

The CSAs will vest immediately and participants have until 13 February 2019 to exercise these awards for an exercise price of US$0.01 per Petro Matad ordinary share.  Awards have been made to the following Directors of the Company:

Director

Conditional Share Awards

Enkhmaa Davaanyam

500,000

Oyungerel Janchiv

77,284

Timothy Bushell

500,000

John Henriksen

500,000

Michael Buck

1,000,000

 

For more information, please contact:

 

Petro Matad Limited

 

Mike Buck, CEO

+97 670 141 099 / +97 675 751 099

 

 

NOMAD and Joint Broker

Stockdale Securities Limited

+44 (0)20 7601 6100

Richard Johnson / El Hanan Lee

 

 

 

Joint Broker

Stifel Nicolaus Europe Limited

+44 (0)20 7710 7600

Callum Stewart/Nicholas Rhodes/Ashton Clanfield

 

 

 

Communications Advisory Firm

FTI Consulting

+44 (0)20 3727 1521

Edward Westropp

 

 

About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

 

 


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