The Options have been granted at an exercise price of 210p, representing a premium of approximately 15.7 per cent. to the middle market closing price of an Ordinary Share of 181.5p on
A total of 2,781,689 Option awards are outstanding following these new grants, which will represent approximately 9.0 per cent. of the Company's enlarged share capital of 30,920,136 Ordinary Shares following shareholder approval and completion of the placing and subscription elements of the Company's fundraising announced yesterday (excluding any further Ordinary Shares which may be issued pursuant to the forthcoming offer for subscription for qualifying participants).
The Option awards were approved by the Remuneration Committee, and by the Board in respect of the Options awarded to Non-Executive Directors, as part of the Company's annual pay review process. The Options have been issued under the
Subject to vesting and such performance conditions being met, the new Options are exercisable for up to seven years from their date of grant and will lapse if not exercised by such date.
Senior Management and Employees
A further 192,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 210p per Ordinary Share.
Contact:
Tel: 020 3757 4983
Notes to Editors
JOG's total GBA acreage is estimated by management to contain 190 million barrels of oil equivalent ('mmboe') of discovered P50 recoverable resources net to JOG, in addition to significant exploration upside potential of approximately 220 mmboe of prospective resources in close proximity to our planned Buchan platform. JOG has recently concluded the Concept Select Phase of an FDP for the Greater
JOG is focused on delivering shareholder value and growth through creative deal-making, operational success and licensing rounds. Its management is convinced that opportunity exists within the
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
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