RNS Number : 5199F
Nautical Petroleum PLC
14 January 2010
For immediate release 14 January 2010
Nautical Petroleum plc
("Nautical" or "the Company")
Directors Shareholding
Nautical Petroleum plc (AIM: NPE) the developer of heavy oil assets on the UKCS and in Europe today announces that on 13 January 2010 the Board of Nautical approved the grant of 550,000 options over the Ordinary shares in the Company to the Directors and key employees of the Company.
The options granted follow a proposal to the Board of Nautical by the Company's Remuneration Committee following the committee meeting on 7 December 2009. The share options granted to Directors are as follows:
Stephen Jenkins 150,000
Paul Jennings 100,000
Will Mathers 100,000
John Conlin 30,000
Philip Dimmock 25,000
Patrick Kennedy 25,000
The options are to subscribe for new shares in the Company and the exercise price is 57.50 pence per share, being the middle market quotation of the shares as derived from the Official List on the Grant Date. The options have been granted for nil consideration.
The options may be exercised semi-annually, on a pro rata basis, over a 24-month period from 13 January 2010. All share options must be exercised before 13 January 2018, failing which they will lapse.
After granting the above share options the beneficial and other interests of the directors and their families in the shares of the Company at 13 January 2010 are:
Ordinary shares number Share options number
Stephen Jenkins 876,096 1,125,000
Paul Jennings 876,096 800,000
Will Mathers Nil 200,000
John Conlin Nil 60,000
Philip Dimmock Nil 250,000
Patrick Kennedy 75,000 250,000
S. Jenkins and P. Jennings hold part of their shareholding with OMX Securities Nominees Limited.
For further information please contact:
Nautical Petroleum plc 020 7550 4890
Steve Jenkins, Chief Executive Officer
Paul Jennings, Commercial Director
Will Mathers, Finance Director
Buchanan Communications 020 7466 5000
Ben Romney
Ben Willey
Evolution Securities - Nominated Advisor & Joint Broker 020 7071 4300
Rob Collins
Neil Elliot
Adam James
Ambrian Partners Limited - Joint Broker 020 7634 4700
Richard Swindells
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSLLFLDLTIVLII
