Wentworth Resources PLC Long Term Incentive ("LTIP") Awards (0927J)
18 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMWEN
RNS Number : 0927J
Wentworth Resources PLC
18 December 2020
PRESS RELEASE
18 December 2020
WENTWORTH RESOURCES PLC
("Wentworth" or the "Company")
Long Term Incentive ("LTIP") Awards
Wentworth Resources (AIM: WEN), the independent,
Tanzania-focused natural gas production company, is pleased to make
the following announcement.
On 17 December 2020 an award under the Long-Term Incentive Plan
("LTIP") was made to Katherine Roe as set out below.
Name Role LTIP award Vesting date Total options following
the grant
Katherine Roe Chief Executive Officer 942,593 31 July 2023 4,618,289
------------------------ ---------- ------------ -----------------------
The awards are subject to a three-year performance period which
runs from 1 August 2020 to 31 July 2023 (the "Performance Period").
The awards are further subject to claw back and malus
provisions.
The performance condition for the award is share price growth
over the Performance Period, with 25% of the award vesting if the
Company's share price at the end of the Performance Period has
increased by an 8% compounded annual growth rate, and 100% of the
award vesting if the share price has increased by a 16% compound
annual growth rate. Should the share price increase between 8% and
16%, awards will vest on a linear sliding scale between 25% and
100%.
- ENDS -
Enquiries: Katherine Roe, katherine.roe@wentplc.com
Chief Executive Officer +44 (0) 7841 087 230
Wentworth
AIM Nominated Adviser &
Joint Broker
Callum Stewart
Ashton Clanfield
Stifel Nicolaus Europe Limited Simon Mensley +44 (0) 20 7710 7600
Joint Broker
Richard Crichton
Peel Hunt LLP Alexander Allen +44 (0) 20 7418 8900
Communications Adviser
Sara Powell
FTI Ben Brewerton +44 (0) 20 3727 1000
About Wentworth Resources
Wentworth Resources plc (AIM-listed: WEN) is a leading, domestic
natural gas producer in Tanzania with a core producing asset at
Mnazi Bay in the onshore Rovuma Basin in Southern Tanzania.
The power demand base in-country is growing and with an
ambitious universal energy access target set by the Government for
2030, Wentworth has a vital role to play in increasing access by
ensuring a reliable, affordable and growing supply of natural gas
into the local market.
In 2019, Wentworth launched its dividend policy and remains
committed to responsible growth that maintains returns for
shareholders.
Inside Information
The information contained within this announcement is deemed by
Wentworth to constitute inside information as stipulated under the
Market Abuse Regulation (EU) no. 596/2014 ("MAR"). On the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
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END
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December 18, 2020 02:00 ET (07:00 GMT)
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