1. £1.6m share plan for boss at Faroe

    Graham Stewart could be entitled to share awards worth 375% of his £335,000 annual salary under the Faroe Petroleum Incentive Plan the company wants shareholders to approve at its annual general meeting next month.

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    1. The Committee acknowledges that the proposed levels of award under the original EPIP were too large in some cases.
    2. In 2012 no options were granted to the Executive Directors under the Faroe Petroleum 2003 Unapproved Share Option Scheme and following the withdrawal of the shareholder resolution to approve the proposed 2012 Exceptional Performance Incentive Plan the provisional awards have since lapsed.