Appointment of Media and Marketing Consultant

Global Petroleum Ltd

25 October 2024

 

25 October 2024 

The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. 

Global Petroleum Limited 

("Global" or "the Company") 

Appointment of Media and Marketing Consultant and Share Issuance

Global Petroleum Limited (LSE AIM:GBP) is pleased to announce the appointment of a media and marketing consultant. This partnership is expected to enhance our visibility and engagement within the market.

For compensation of the services rendered, the Company has issued a total of 11,111,111 new ordinary shares, which will be distributed quarterly over the year. The shares will be held in escrow and released each quarter as per the agreed terms of the agreement. The first tranche of 2,777,777 shares has been issued.

The shares will be issued at an effective price of £0.0027 per share, reflecting the agreed-upon terms in the consultancy contract. This share issuance has been approved by the Board of Directors and complies with all relevant regulations.

Omar Ahmad, CEO of Global Petroleum commented,

"Shareholder communication is essential, and the board recognise this and decided to implement a marketing and media growth strategy as we are entering into a busy period for our two ongoing projects in Western Australia and Namibia."

Admission to AIM

Application will be made for the new ordinary shares to be admitted to trading on AIM ("Admission"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 31 October 2024. The new ordinary shares will rank on Admission pari passu in all respects with the existing ordinary shares. 

Total Voting Rights

Following Admission, the total issued share capital of the Company will be 3,917,121,789 Ordinary Shares. Accordingly, the figure of 3,917,121,789 is to 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.

For further information please visit: www.globalpetroleum.com.au or contact: 

Global Petroleum Limited                                                                [phone] 

Andrew Draffin, Company Secretary and Non-Executive Director  

SPARK Advisory Partners (Nominated Adviser)                        [phone]  

Andrew Emmott  

CMC Markets (Joint Broker)                                                           [phone] 

Douglas Crippen   

SI Capital Limited                                                                             [phone] 

Nick Emerson  

Tavistock (Financial PR & IR)                                                         [phone] 

Simon Hudson / Nick Elwes 

 

END