your initial deposit *subject to change and depends on individual circumstances.
Amerisur Resources is an oil and gas explorer and developer focused in onshore South America, primarily Colombia and Paraguay. A new management team was appointed during the course of 2007 focused on delivering value to shareholders and taking Amerisur towards production.
RNS Release - Grant of Share Options
20 January 2012
Amerisur Resources Plc ("Amerisur" or the "Company")
Grant of Share Options
Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announces that on 19 January 2012 the Company's Remuneration Committee ("the Committee") which is comprised wholly of non-executive directors, granted options to directors and employees over 9,485,000 new ordinary shares of 0.1p each, representing 1.0 per cent of the current issued share capital, under the Long Term Incentive Plan ("LTIP") approved at the 2011 AGM. The Committee designed the LTIP in accordance with current best practice and with the intention of delivering appropriate awards to senior management on the delivery of exceptional corporate performance.
The LTIP is a new "longer-term" incentive plan replacing the old option scheme. It represents a key change to the current remuneration structure for the directors and, equally importantly, for those more junior members of Amerisur's management team, who are making important contributions to the creation of shareholder value who have been included in this award as indeed they were in the previous scheme.
The options are nil cost options which are eligible to vest over a three year period ("Vesting Period") subject to achieving performance levels which create value for shareholders. Vesting is on a sliding scale which depends upon the effective shareholder return during the Vesting Period:
Total Shareholder Return (p.a.) Level of Vesting (%)
20% (73% compound over three years) 100%
15% (52% compound over three years) 65%
10% (33% compound over three years) 35%
The total shareholder return ("TSR") target is calculated from a base price of the average closing share price in the 30 day period prior to the date of award, which was 17.38p. Options will vest during the Vesting Period when any of the three percentage thresholds for 3 year TSR is achieved for a 30 day period based on the average closing share price for that period.
There was no consideration paid upon the grant of the options and the options expire on the fifth anniversary of the grant.
8,250,000 options have been granted to Directors as follows:
Number of options granted
Total options following this grant
* Dr Wardle's interests in his share options are held through his interest in Tracarta Ltd
Billy Clegg/Caroline Stewart,
Tel: +44 (0)207 831 3113
Tel: +44 (0)207 653 4000
This information is provided by RNS