Issue of Options and Shares
December 9, 2009
Issue of€Options
On€8 December 2009, options over ordinary shares of€nominal value € 0.01 ('Options') were awarded to€directors of€the Company in€accordance with the Company's share option scheme. The exercise price of€these options is€the closing price of€the ordinary shares of€the Company on€the AIM market of€the London Stock Exchange on€8€December 2009 which was STG£ 0.1925. The options will only vest once certain time and total shareholder return conditions have been met.
| Director | Number of€Options issued | Total number of€Options held |
| David Golder |
120,000 |
615,000 |
| Dennis Francis |
330,000 |
1,540,000 |
| Paul Dowling |
280,000 |
855,000 |
| David Sanders |
280,000 |
1,440,000 |
| Thomas Hickey |
100,000 |
453,000 |
| Vakha Sobraliev |
80,000 |
555,000 |
| Total |
1,190,000 |
5,458,000 |
Issue of€Shares
As€detailed in€the 2008 annual report certain directors have elected to€receive a€portion of€their 2008 and 2009 remuneration in€shares. On€9 December 2009 shares were issued in€respect of€all periods up€to€30€September 2009.
| Director | Number of€shares issued | Total number of€shares held | %€of€entire issued share capital |
| Dennis Francis |
161,371 |
22,570,416 |
6.44% |
| Paul Dowling |
144,531 |
192,531 |
0.05% |
| David Sanders |
110,433 |
2,213,235 |
0.65% |
| Thomas Hickey |
52,557 |
1,587,614 |
0.45% |
| Total |
468,892 |
26,563,796 |
Application will be€made to€the London Stock Exchange and the Irish Stock Exchange for the above Shares to€be€admitted to€trading on€AIM and IEX, with Admission expected to€occur on€11€December 2009.
For further information please contact:
| Dennis Francis, CEO, PetroNeft Resources plc | |
| Paul Dowling, CFO, PetroNeft Resources plc | |
| John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker) |
