Exercise of Options under Long Term Incentive Plan
Updated : 07:03
23 January 2019
Amerisur Resources Plc ("Amerisur" or the "Company")
Exercise of Options under Long Term Incentive Plan ("LTIP")
Amerisur, the oil and gas producer and explorer focused on South America, announces that John Wardle, Chief Executive Officer of Amerisur, has exercised nil cost options (the "Options") issued under the LTIP over 2,262,000 Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"). The Options were exercised on 22 January 2019 and were registered to Tracarta Ltd. ("Tracarta"), a company in which John Wardle has an interest.
These Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares. Application has been made for the Ordinary Shares to be admitted to trading. Admission is expected on 28 January 2019.
Subsequent to the exercise of the Options, the new issued share capital ("ISC") of Amerisur will be 1,215,467,768 shares. Tracarta's new holding will be 33,391,505 shares, representing 2.747% of the new ISC.
The above figure of 1,215,467,768 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.
Director | Position | No. Ordinary shares issued as Result of Option Exercise |
John Wardle | Chief Executive Officer | 2,262,000 |
ENDS
Enquiries:
Nick Harrison, CFO Amerisur Resources
| Tel: +44 (0)330 333 8246 |
Billy Clegg / Georgia Edmonds / Kimberley Taylor Camarco
| Tel: +44 (0)203 757 4983 |
Callum Stewart / Nicholas Rhodes / Ashton Clanfield Stifel Nicolaus Europe Limited
| Tel: +44 (0)20 7710 7600 |
Chris Sim / Alexander Ruffman Investec
|
Tel: +44 (0)207 597 4000 |
Paul Shackleton / Dan Gee-Summons Arden Partners plc | Tel: +44 (0)20 7614 5900 |
Notes to editors
About Amerisur Resources
Amerisur Resources is an experienced Colombian Operator with an extensive, strategic acreage position in the underexplored Putumayo in partnership with Occidental Petroleum ("Oxy") and a strategic acreage position in Llanos in CPO-5 with partner ONGC. Amerisur is the 100% owner and operator of the OBA pipeline, a key piece of strategic, cross-border export infrastructure delivering oil from the Putumayo in Colombia into Ecuador. Amerisur produces from three fields, Platanillo in the Putumayo which generates cash flow to fund its work programme and Mariposa-1 and Indico-1X in the Llanos basin. Amerisur has recently announced a potentially transformational result at Indico-1, which significantly exceeded expectations - 283 feet gross, 209 feet net oil column.
Amerisur has a robust financial position with cash generation and balance sheet to fund its work programme.
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
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