Eco Atlantic boosts management incentives with major RSU and option grants

Eco Atlantic Oil & Gas ( (TSE:EOG) ) has issued an announcement.

Eco Atlantic Oil & Gas has granted a substantial package of equity-based incentives, including 6,537,500 new restricted share units and 5,587,500 stock options, to directors, officers and consultants under its Omnibus Incentive Plan. The move, which follows the vesting and conversion of 1,768,000 existing RSUs into common shares, is intended to reward recent operational achievements and align management and board interests with shareholders.

The company has also processed the exercise of options over 100,000 common shares and applied for the admission of 1,868,000 new common shares to trading on the TSX Venture Exchange and AIM. Following admission, Eco Atlantic’s issued share capital will rise to 347,809,027 common shares, modestly diluting existing holders while expanding the pool of equity-linked compensation available to key personnel and clarifying the new total voting rights for regulatory disclosure purposes.

More about Eco Atlantic Oil & Gas

Eco Atlantic Oil & Gas is a TSX-V and AIM-quoted oil and gas exploration company focused on the Atlantic Margins, with offshore licence interests in Guyana, Namibia and South Africa. The company targets low carbon intensity oil and gas resources in stable emerging markets near existing infrastructure, including operated blocks in the Orinduik, Walvis and Orange basins.

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