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Petro Matad Ltd (MATD)

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Tuesday 17 April, 2018

Petro Matad Ltd

Exercise of LTIP options and Total Voting Rights

RNS Number : 1975L
Petro Matad Limited
17 April 2018

17 April 2018

Petro Matad Limited

("Petro Matad" or the "Company")

Exercise of Conditional Share Awards and Total Voting Rights


Exercise of LTIP Options

Petro Matad, the AIM quoted Mongolian oil explorer, announces the issue of 2,868,065 new ordinary shares of US$0.01 each in the Company ("Shares") pursuant to the exercise of Conditional Share Awards by certain Directors and an employee on 16 April 2018 under the Company's Long-Term Equity Incentive Plan ("LTIP") at $0.01 per share. Details relating to Directors are set out below:



Options exercised

Resultant shareholding

Percentage holding of enlarged issued share capital

Oyungerel Janchiv*




Enkhmaa Davaanyam




Timothy Bushell




Mike Buck




John Henriksen





* Dr Oyungerel Janchiv controls more than 20% of Petrovis Matad Inc ("Petrovis"). Her direct holding in Petro Matad of 13,345,230 Shares is, for disclosure purposes, aggregated with that of Petrovis under the AIM definition of director's family. The aggregated holding of Dr Oyungerel and Petrovis is 159,440,810 Shares representing 30.35 per cent. of the Company's enlarged issued share capital.

Concert Party holding

Following the issue of the new Shares to Dr Oyungerel Janchiv and Enkhmaa Davaanyam, the Petrovis Group (being Petrovis, its underlying shareholders and their family members) will hold 196,101,424 representing 37.33 per cent. of the Company's enlarged issued share capital.

Application for admission of new Shares

Application has been made for the 2,868,065 new Shares, which rank pari passu with the Company's existing issued Shares, to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 23 April 2018.

Total Voting Rights

Following Admission, Petro Matad will have 525,312,857 ordinary shares in issue, which will also represent the total number of voting rights in the Company. No Share are held in Treasury. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.




Petro Matad Limited

 Mike Buck, CEO                                   +97 670 141 099 / +97 675 751 099


NOMAD and Joint Broker

Stockdale Securities Limited             +44 (0)20 7601 6100

Richard Johnson / El Hanan Lee


Joint Broker

Stifel Nicolaus Europe Limited         +44 (0)20 7710 7600

Callum Stewart/Nicholas Rhodes/Ashton Clanfield


Communications Advisory Firm

FTI Consulting                                      +44 (0)20 3727 1521

Edward Westropp


About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

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.

This information is provided by RNS
The company news service from the London Stock Exchange

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