Mr. Rupert Cole reports
AWARD OF SHARE OPTIONS
Xcite Energy Ltd. has awarded 150,000 options to purchase ordinary shares in the company to Henry G. Wilson, following his appointment to the board of directors in May, 2014.
The options were granted under the terms of the company's stock option plan by reference to the closing price on the TSX Venture Exchange of the company's ordinary shares on July 7, 2014, and will vest immediately. All options will have an exercise price of 68 British pence ($1.25) per ordinary share and carry a term of five years from the date of award. Mr. Wilson now holds a total of 150,000 share options.
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