RNS Number : 9109W
Mosman Oil and Gas Limited
20 November 2017
 

 

20 November 2017

 

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

 

Notice of Annual General Meeting and Share Option Scheme

 

Mosman Oil and Gas Limited (AIM: MSMN), the oil exploration, development and production company, is pleased to advise that the Notice of Annual General Meeting has been dispatched to shareholders today.  At the Annual General Meeting, the Company will be seeking shareholder approval to establish a Company Share Option Plan and grant options to certain Directors, key employees and consultants of Mosman. These new share options are expected to be issued at an exercise price being the higher of 2p or a 35% premium to the 5 day VWAP prior to the AGM ("New Share Options").

 

The options proposed under the grant are as follows:

 

Name

Position

Number of New Share Options to be granted

New Share Options as a % of total existing shares in issue

Mr John Barr

Executive Chairman

3,000,000

1.00%

Mr Andrew Carroll

Technical Director

3,000,000

1.00%

Mr John Young

Non-Executive Director

1,500,000

0.50%

Mr Jarrod White

Chief Financial Officer

1,000,000

0.33%

Mr Howard McLaughlin

US Operations Manager

750,000

0.25%

 

 

The Annual General Meeting will be held at 11.00am on 18 December 2017 at Suite 305, Level 3, 35 Lime Street, Sydney NSW 2000 Australia (EDST).

 

As Directors of the Company John Barr, Andrew Carroll and John Yong are classified as related parties under the AIM Rules and therefore the grant of New Share Options to each of them is classified as a related party transaction for the purposes of Rule 13 of the AIM Rules. Given that no Directors are deemed to be independent of the grant of the New Share Options, the Company's Nominated Adviser, SP Angel Corporate Finance LLP, considers that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

 

The Explanatory Memorandum and Proxy Forms are available on the Company's website: www.mosmanoilandgas.com

 

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.



 

Enquiries

 

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Soltan Tagiev

+44 (0) 20 3470 0470

 

Gable Communications Limited

John Bick / Justine James

+44 (0) 20 7193 7463

mosman@gablecommunications.com

 

 

Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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