United Kingdom, 19 December 2014.
RAK Petroleum plc, the Oslo-listed oil and gas investment company, announces that it made on 18 December 2014 conditional share awards pursuant to its Long-Term Incentive Plan (LTIP) over the following number of A ordinary shares:
Bijan Mossavar-Rahmani...... 826,888 shares
Kevin J. Toner..................... 632,326 shares
Arya H. Bolurfrushan............ 437,764 shares
This notification relates to a transaction notified in accordance with the UK Disclosure and Transparency Rule 3.1.2 R.
Under the terms of the grants, these awards will vest, subject to the rules of the LTIP, two-thirds on December 18, 2015 and one-third on December 18, 2016. The amount paid for the grant is nil and there is no exercise price. These are also the total awards to date.
For further queries, please contact:
Kevin Toner, Managing Director
RAK Petroleum plc
About RAK Petroleum plc
RAK Petroleum plc is an Oslo Stock Exchange listed oil and gas investment company established under the laws of England and Wales as a public limited company. Its principal holdings are 42.8 percent of DNO ASA and 33.33 percent of Foxtrot International LDC held through Mondoil Enterprises LLC.
DNO ASA is a Norwegian oil and gas operator active in six countries in the Middle East and North Africa. Shares in the company have traded on the Oslo Stock Exchange since 1981. DNO ASA is headquartered in Oslo with more than 1,000 employees and contractors worldwide. Foxtrot International LDC is a privately-held company active in West Africa whose principal asset is a 27.5 percent interest in and operatorship of Block CI-27 offshore Cote d'Ivoire. Block CI-27 contains the two largest producing gas fields in the country, meeting over 70 percent of Cote d'Ivoire's needs.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.