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Amerisur Resources PLC  -  AMER   

Long Term Incentive Plan ("LTIP") Awards

Released 15:31 23-May-2016

RNS Number : 0456Z
Amerisur Resources PLC
23 May 2016
 

23 May 2016

 

Amerisur Resources Plc ("Amerisur" or the "Company")

 

Long Term Incentive Plan ("LTIP") Awards

 

Amerisur Resources Plc ("Amerisur" or the "Company"), the oil and gas producer and explorer focused on South America, announces that on 20 May 2016 it granted awards under the Long Term Incentive Plan adopted in 2011, to all staff and Directors in respect of a total of 11,300,000 ordinary shares (the "Awards"), representing 0.9% of the issued share capital.

 

 

Name

Awards

Vesting date

Total options following this grant

Staff

5,000,000

May 2019

12,876,141

John Wardle

4,200,000

May 2019

24,340,000

Giles Clarke

1,100,000

May 2019

9,900,000

Nick Harrison

1,000,000

May 2019

9,800,000

Total

11,300,000


56,916,141

 

Half of the Awards are subject to an absolute total shareholder return performance condition whereby 30% of this portion will vest if 10% compound annual returns are achieved, measured at the end of the three-year performance period and 100% will vest if 20% compound annual returns are achieved, with straight line vesting between these points.   The base price for the share price growth is 27.5p being the average of closing price for the 3 calendar days prior to grant.

 

Half of the Awards are subject to a comparative total shareholder return performance condition whereby 30% of this portion will vest at median performance, measured against the comparator group at the end of the three-year performance period and 100% will vest at upper quartile performance, with straight line vesting between these points.

 

The Company consulted with major shareholders prior to making this award. This award follows the passing of the Company's remuneration report at its Annual General Meeting earlier this month.

 

Stephen Foss, Senior Independent Director and Chairman of the Remuneration Committee said:

 

"I would like to thank shareholders for their engagement on this process."

 

Ends

 

ENQUIRIES:

Billy Clegg/Georgia Mann

Tel: +44 (0)203 757 4980

Camarco

 


Callum Stewart/Ashton Clanfield

Stifel Nicolaus Europe Limited

Tel: +44 (0)20 7710 7600



Chris Sim/George Price

Tel: +44 (0)207 597 4000

Investec




Darrell Uden/Daniel Conti

Tel: +44 (0)207 653 4000

RBC Capital Markets


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Long Term Incentive Plan ("LTIP") Awards - RNS