Exercise of Directors Warrants and Associated Loan

RNS Number : 5096G

Nostra Terra Oil & Gas Company PLC

29 June 2012

 



AIM: NTOG

29 June 2012

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Exercise of Directors' Warrants and Associated Loan

Nostra Terra, the AIM-quoted oil and gas producer with projects in the USA, announces that Matt Lofgran, Chief Operating Officer, has today exercised warrants to subscribe for 217,842,506 ordinary shares at a price of 0.1p per share originally granted on 30 June 2009 ("Warrants").

In order to satisfy the consideration associated with the exercise of the Warrants Matt Lofgran has entered into a secured loan note (the "Secured Loan Note") with YA Global Master SPV, Ltd ("YA Global"). The Secured Loan Note is for a term of 12 Months. As part of the conditions of the Secured Loan Note, Matt Lofgran has granted a fixed charge over 289,842,506 ordinary shares of 0.1p each in the Company ("Ordinary Shares") as security to YA Global.

Following the exercise of the 217,842,506 Warrants, Matt Lofgran is interested in 296,842,506 Ordinary Shares and 14,000,000 options at an exercise price of 0.41 pence per Ordinary Share that are eligible for exercise until 25 January 2017.

The 217,842,506 new Ordinary Shares to be issued pursuant to the exercise of the Warrants will rank pari passu in all respects with the existing issued ordinary share capital of the Company. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 5 July 2012 ("Admission").

TOTAL VOTING RIGHTS

Following Admission of the new Ordinary Shares, the issued share capital of the Company will increase by 11.2 per cent to 2,167,943,091 Ordinary Shares of 0.1p each. This figure may 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 share capital of the Company under the Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).

Matt Lofgran, Chief Executive of Nostra Terra, commented:

"Exercising these Warrants at this time demonstrates my long term commitment and belief in the future of Nostra Terra."

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                                       Telephone: [phone]

Shore Capital & Corporate Limited (Nominated Adviser) 

Bidhi Bhoma / Toby Gibbs                                                Telephone: [phone]

Alexander David Securities Ltd

David Scott / Bill Sharp                                                     Telephone: [phone]

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                                       Telephone: [phone]

 

END

 

 

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