HOUSTON, April 1 /CNW/ - SSP Offshore Inc. ("SSP Offshore") today announced that it has granted stock options to its new Chief Executive Officer, Paul Illingworth. The grant of the options is effective as of April 1, 2010, Mr. Illingworth's effective start date with SSP Offshore.
The option gives Mr. Illingworth the right to acquire 500,000 treasury common shares of SSP Offshore at an exercise price of $0.30 US per share (equal to the closing trading price of the shares on March 31, 2010) with standard vesting provisions.
About SSP Offshore Inc.
SSP Offshore is a public company listed under the symbol "SSZ" on the TSX Venture Exchange. The Corporation is actively commercializing its proprietary SSP(R) FPSO platform design in two formats: (i) SSP Base and (ii) SSP Plus+. Visit the company's website at www.sspoffshore.com for more information.
Certain statements contained herein constitute forward-looking statements. Although the company believes the statements are reasonable, it can give no assurance that such expectations will prove to be correct. The company cautions investors that any forward-looking statements made by the company are not guarantees of the future performance, and that the actual results may differ materially from those in the forward-looking statements as a result of various factors.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE SSP Offshore Inc.
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