Xcite Energy Limited ("Xcite Energy" or the "Company") Award of Options to Directors and Management Team
November 30 2009 - 6:09PM
Marketwired
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN OR INTO THE UNITED STATES
Xcite Energy Limited (TSX-V: XEL) (LSE: XEL) (AIM: XEL), a
developer of heavy oil assets in the UK North Sea, today announces
the award of 100,000 options to purchase ordinary shares of the
Company to each of the following Directors and members of the Xcite
Energy Resources Limited (the Company's wholly owned subsidiary)
Management Team:
Roger Ramshaw, Gregory Moroney, Timothy Jones, Scott Cochlan,
Richard Smith, Stephen Kew, Rupert Cole, Jonathan Dale, Barnaby
Brennan, Richard West and Charles Lucas-Clements.
All of these options were granted today under the terms of the
Company's share option scheme, at an exercise price of CAN$0.74 per
ordinary share and are exercisable for a period of five years. This
award recognises the significant progress that has been made with
respect to the Bentley field during 2009.
Following these option awards, the Directors of the Company have
the following aggregate number of ordinary shares under option:
Aggregate ordinary
shares under option
Roger Ramshaw 300,000
Gregory Moroney 200,000
Timothy Jones 200,000
Scott Cochlan 200,000
Richard Smith 1,100,000
Stephen Kew 1,100,000
Rupert Cole 1,100,000
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ENQUIRIES: Xcite Energy Limited +44 (0) 1330 826740 Richard
Smith, Chief Executive Officer Rupert Cole, Chief Financial Officer
Strand Hanson Limited (Nomad) +44 (0) 20 7409 3494 James Harris,
Director Rory Murphy, Director Arbuthnot Securities Limited
(Broker) +44 (0)20 7012 2000 Andrew Fairclough, Director Ed
Burbidge Pelham Public Relations +44 (0) 20 7337 1500 Mark Antelme,
Director Paradox Public Relations +1 514 341 0408 Jean-François
Meilleur, Consultant Karl Mansour, Consultant