Predator Oil & Gas Holdings PLC has issued share options and announced the lapse of share options. Geoffrey Leid, the in-country managing director of T-Rex, a subsidiary of Predator, has been awarded 3,000,000 options at an exercise price of 12.5 pence per share. 1,000,000 options will vest immediately, and the remaining 2,000,000 will vest after 6 months or upon production from the Cory Moruga Exploration and Production Licence reaching 200 barrels of oil per day. Leid's focus will be on promoting and developing the company's business activities in Trinidad, particularly the Cory Moruga field development project.
Geoffrey Leid is an experienced corporate consultant/adviser with a focus on oil and gas development projects. He has a background in the acquisition and funding of resource projects in Trinidad and holds undergraduate degrees in Economics and Administrative Studies from York University, Canada, and an LLB from the United Kingdom. The share options granted to former directors Louis Castro, Dr. Stephen Staley, and Thomas Evans have lapsed as per the terms and conditions of the Predator Oil & Gas Holdings Plc Unapproved Share Option Scheme dated 7 October 2020.
The total options and warrants outstanding in the company after the issuance and lapsing of the options are detailed. If all options and warrants were to become exercisable and then exercised in accordance with their terms, the gross proceeds received by the company would be £6,150,101. This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse. For further information, visit the company's website at www.predatoroilandgas.com.