Further issue of 11,784,845 new Ordinary Shares

RNS Number : 5633B

Predator Oil & Gas Holdings PLC

11 June 2021

 

FOR IMMEDIATE RELEASE

 11 June 2021

  Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

  LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

Further issue of 11,784,845 new Ordinary Shares

Return of shares to Paul Griffiths

As announced on 25 March 2021 as part of the Company's placing to raise £1.785 million (the Placing), when the Company has the ability to issue further shares, the Company intends to issue Paul Griffiths 11,784,845 new Ordinary Shares and take all necessary steps in order to put Mr Griffiths back into the position that existed, in terms of his aggregate shareholding in the Company, had he not made the transfer of 11,784,845 of his Ordinary Shares in order to settle the Placing.

The Company now has such ability and accordingly is pleased to announce that it intends to issue 11,784,845 new Ordinary Shares (the "Issue Shares") of no par value in the Company to Paul Griffiths (the "Further Issue").

The Further Issue utilises some of the Company's existing headroom shares under the Financial Conduct Authority restrictions for companies on the Official List (standard listing segment) of the London Stock Exchange's main market for list securities.

Novum Securities are acting as joint broker to the Company.

Completion of the Further Issue

Completion of the Further Issues is conditional on, inter alia:-

the Issue Shares being admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") on or before 23 June 2021 (or such later date as may be agreed by the Company and Novum Securities).

Admission, Settlement and Dealings in Issue Shares

Applications will be made to the FCA and to the London Stock Exchange for Admission in respect of all the Issue Shares proposed to be issued on completion of the Further Issue.  It is expected that Admission will become effective, and that dealings in the Issue Shares are expected to commence, at 8.00 a.m. on 23 June 2021.

The rights attaching to the Issue Shares will be uniform in all respects and all of the Issue Shares will rank pari passu, and form a single class for all purposes with, the existing issued shares of no par value in the Company.

Following the Further Issue, the enlarged Share Capital will be  266,946,267  ordinary shares of no par value.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

For more information, please visit the Company's website at  www.predatoroilandgas.com : 

Enquiries:

Predator Oil & Gas Holdings Plc Dr. Stephen Staley Non-executive Chairman Paul Griffiths  Chief Executive Officer	Tel: [phone] [e-mail]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis	Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone] [e-mail]

Notes to Editors:

Predator is an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves and sequestrating anthropogenic carbon dioxide in the producing Inniss Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing a successful Pilot Enhanced Oil Recovery project using locally sourced liquid carbon dioxide for injection into and storage within the oil reservoirs ("C02 EOR"). Near-term expansion and production growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field, subject to all necessary approvals. 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.  A drilling programme, subject to the lifting of COVID-19 restrictions, targeting material prospective gas resources is scheduled for Q2 2021.

In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which Successor Authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the Kinsale gas field and Barryroe oil field in the Celtic Sea.

The Company has a highly experienced management team with a proven track record in the oil and gas industry.

 

END

 

 

FURBBLLFFQLZBBK