PETRO MATAD LIMITED THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ('MAR'). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ('RIS'), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
23 December 2019
Petro Matad Limited
('Petro Matad' or the 'Company')
Award of Conditional Share Awards
The Company notifies that on 18 December 2019 grants of 14,926,000 conditional share awards ('CSAs') under the Company's Long-Term Equity Incentive Plan ('LTIP') were approved to be made to Directors and certain employees. The CSAs have been granted as an element of Director and employee compensation, in recognition of the achievement of performance objectives and the salary freeze that has been in effect for several years as part of the Company's strategy to conserve cash.
The CSAs will vest immediately, and participants have until 18 December 2020 to exercise these awards for an acquisition price of US$0.01 equal to the nominal value of Petro Matad ordinary shares. Awards granted to Directors of the Company are as follows:
Director | Conditional Share Awards |
Enkhmaa Davaanyam | 251,000 |
Shinezaya Batbold | 151,000 |
Timothy Bushell | 415,000 |
Mike Buck | 4,455,000 |
John Henriksen | 1,737,000 |
Further information please contact:
Petro Matad Limited | |
Mike Buck, CEO | +976 7014 1099 / +976 7575 1099 |
Shore Capital (Nominated Adviser and Broker) | |
Toby Gibbs Jerry Keen John More | +44 (0) 20 7408 4090 |
Stifel Nicolaus Europe Limited (Broker) | |
Callum Stewart Nicholas Rhodes Ashton Clanfield | +44 (0) 20 7710 7600 |
FTI Consulting (Communications Advisory Firm) | |
Sara Powell Ben Brewerton | +44 (0) 20 3727 1000 |
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 100% working interest and the operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,367 square kilometres in the far eastern part of the country, and Blocks IV and V have an area of 29,062 square kilometres and 21,143 square kilometres, respectively, in the central western 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Petro Matad Ltd. published this content on 23 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2019 14:40:07 UTC
