Ascent Resources plc has granted an aggregate 50 million options over ordinary shares of £0.005 each, to members of its senior management.
TRANCHES
The figure include 25m options to chief executive officer David Patterson in accordance with the terms of his contract, dated 1 July 2025.
The company said that the grant was made under individual share option agreements, and intended to align the interests of senior management with those of shareholders.
The options have an exercise price of 0.65 pence per ordinary share and will vest in three tranches on 1 July in 2026, 2027 and 2028, subject only to continued service.
Each tranche has an exercise period of five years from its vesting date.
Ascent holds onshore oil and gas interests in Utah, USA as well as claims for damages from its operations in Slovenia.