EMPYREAN ENERGY PLC

Share Issue/Capital Change • Jun 13, 2017

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RNS Number : 9346H

Empyrean Energy PLC

13 June 2017

Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas

13 June 2017

Empyrean Energy PLC ('Empyrean' or 'the Company')

Option Amendment

Empyrean confirms that, on 12 June 2017, the Board approved the amendments to the terms of the outstanding options (the "Options") in respect of 45,000,000 ordinary shares of 0.2p each in the Company ("Ordinary Shares") in accordance with the terms of the agreement entered into between the Company and Macquarie Bank Limited, the original option holder, in respect of the Options on 30 May 2012 (the "Option Agreement"). The Option Agreement provides for adjustments to the option price in the event of a pro rata issue of shares (other than a bonus issue). Accordingly, as a result of the open offer originally announced 4 April 2017, the amended terms of the Options are set out below:

Number of Options	Original Exercise Price	Exercise Price	Expiry Date
15,000,000	2.1 pence	2.0 pence	19 July 2017
15,000,000	4.1 pence	4.0 pence	25 March 2018
15,000,000	2.1 pence	2.0 pence	26 July 2019

As announced on 13 March 2017, the Options are currently owned by Apnea Holdings Pty Ltd ("Apnea"), a company which is wholly-owned by Tom Kelly, CEO of Empyrean.

**ENDS**

Empyrean Energy plc
Tom Kelly		Tel: +61 8 9481 0389
Cenkos Securities plc
Neil McDonald		Tel: +44 (0) 131 220 9771
Beth McKiernan		Tel: +44 (0) 131 220 9778
Nick Tulloch		Tel: +44 (0) 131 220 9772
St Brides Partners Ltd
Lottie Brocklehurst		Tel: +44 (0) 20 7236 1177
Olivia Vita		Tel: +44 (0) 20 7236 1177

This information is provided by RNS

The company news service from the London Stock Exchange

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