ASX & Media Release
Share Options Granted to Melbana EmployeesMELBOURNE, AUSTRALIA (28th March, 2017)
The Directors of Melbana Energy Limited ("Melbana" or the "Company") (ASX: MAY) are pleased to advise the grant of Share Options to employees in accordance with the Melbana Long Term Incentive Plan.
The major terms and conditions of the Options are as follows:-
Total number of Options Granted 9,250,000
Option Exercise Price 3.2 cents
Vesting 50% on 27 March 2018 and 50% on 27 March 2019
Vesting Condition Options are subject to employees being in continuous
service with the Company up to the date of vesting.
Expiry Date 27 September 2020
The Board of Directors has also agreed the Managing Director & Chief Executive Officer Mr Peter Stickland be granted 3.0 million share options on the same terms and conditions as the Share Options granted to Melbana employees. The grant of share options to Mr Stickland is subject to approval by shareholders at the next General Meeting of the Company.
On behalf of the Board of Directors Colin NaylorChief Financial Officer & Company Secretary
Melbana Energy Limited 1 www.melbana.comMelbana Energy Limited published this content on 28 March 2017 and is solely responsible for the information contained herein.
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