Issue of Equity and Director's Holding

RNS Number : 4466S

Petro Matad Limited

21 November 2011

 



Petro Matad Limited

("Petro Matad" or the "Company")

Issue of Equity and Director's Holding

Issue of equity

Petro Matad announces that 83,410 ordinary shares of US$0.01 each (the "Performance Shares") were issued today under the Company's Long Term Equity Incentive Plan (the "Incentive Plan") based on length of service.  The 83,410 Performance Shares were issued, under the terms of the Incentive Plan, at nominal value.

The Company also announces that 5,000 ordinary shares (the "Option Shares") were issued today as a result of the exercise of options held by employees under the Incentive Plan.  The Option Shares were issued at an exercise price of 11 pence per share.

Following the issue of the Performance Shares and the Option Shares, Petro Matad will have 184,565,284 shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 184,565,284.

Director's Holding

Petro Matad announces that Clyde Evans, a director of the Company, has transferred 200,000 ordinary shares of US$0.01 each to Sunshore Enterprises Pty Ltd ("Sunshore"), a company of which he is a controlling shareholder. Following this transfer, Clyde Evans continues to hold 4,182,377 shares in the Company, representing 2.27% of the Company, which are held directly and through Sunshore and the Evans Family Superannuation Fund.

About Petro Matad Limited

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia.  The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia.  The principal asset is the PSC for Block XX, a petroleum block of 10,340 km² in the far eastern part of the country.  The two other Blocks, IV and V are located in central Mongolia.  Block IV covers approximately 29,000 km² and Block V covers 21,150 km².

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V.  Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

Further information:

Petro Matad Limited

Douglas J. McGay - CEO 

[phone]

Westhouse Securities Limited

Richard Baty/Petre Norton

[phone]

 

END

 

 

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