ABERDEENSHIRE, UNITED KINGDOM--(Marketwired - Jun 21, 2013) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION TSX-V, LSE-AIM: XEL 21 June 2013 Xcite Energy Limited ("Xcite Energy" or the "Company") Award of Options Xcite Energy announces the award of an aggregate of 9,850,000 options to purchase ordinary shares of the Company to the Board of Directors, and to certain members of the Xcite Energy Resources Limited Management team and staff. The options were granted under the terms of the Company's share option scheme by reference to the closing price on the TSX-V of the Company's ordinary shares on 20 June 2013 and will vest immediately. This award is made in recognition of the substantial upgrade in reserves, as announced by the Company in April 2013. All options have an exercise price of GBP1.01 (CAN$1.62) per ordinary share and carry a term of five years from the date of award. Following these option awards, the Directors of the Company have the following aggregate number of ordinary shares under option: Option award now Aggregate ordinary being made shares under option Roger Ramshaw 350,000 840,000 Gregory Moroney 200,000 590,000 Timothy Jones 100,000 690,000 Scott Cochlan 200,000 690,000 Stephen Kew 1,900,000 3,421,000 Rupert Cole 1,900,000 3,421,000 ENQUIRIES: Xcite Energy Limited +44 (0) 1483 549 063 Rupert Cole / Steve Kew Liberum Capital Limited (Joint Broker and Nomad) +44 (0) 203 100 2000 Clayton Bush / Tim Graham Morgan Stanley (Joint Broker) +44 (0) 207 425 8000 Andrew Foster Pelham Bell Pottinger +44 (0) 207 861 3232 Mark Antelme / Henry Lerwill Paradox Public Relations +1 514 341 0408 Jean-Francois Meilleur Neither the 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. This information is provided by RNS The company news service from the London Stock Exchange END
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