Directors Dealing & Issue of Equity

RNS Number : 0860U
Petro Matad Limited
27 July 2015
 

Petro Matad Limited

("Petro Matad" or the "Company")

Issue of Equity and Total Voting Rights

 

Issue of Equity and Directors' Dealings

 

Petro Matad announces that it has issued 2,256,550 new ordinary shares of US$0.01 each ("New Shares") under the Company's Long Term Equity Incentive Plan (the "Plan") to directors of the Company. The New Shares have been issued, under the terms of the Plan, at nominal value.

 

Changes to Directors' Holdings

 

The below table sets out the Directors' shareholdings following the issue of the New Shares:

 

Director

Previous shareholding

New Shares being issued under the Plan

Resultant shareholding

Percentage holding of enlarged issued share capital

Oyungerel Janchiv*

18,807,066

498,380

19,305,446

6.72%

Enkhmaa Davaanyam

4,390,020

498,380

4,888,400

1.70%

Philip Vingoe

998,380

498,380

1,496,760

0.52%

Ridvan Karpuz

1,447,829

498,380

1,946,209

0.68%

John Henriksen

820,228

263,030

1,083,258

0.38%

 

*Dr Oyungerel Janchiv, a director of Petro Matad, controls more than 20% of Petrovis Matad Inc. ("Petrovis"). Her direct holding in Petro Matad of 19,305,446 ordinary 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 111,489,708 ordinary shares representing 38.78 per cent. of the Company's enlarged issued share capital.

 

Application has been made for the 2,256,550 New Shares to be admitted to trading on AIM and it is anticipated that this will occur on or around 31 July 2015.

 

Total Voting Rights

 

Following the issue of the New Shares, Petro Matad will have 287,494,775 ordinary shares in issue, which will also represent the total number of voting rights in the Company. 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 and Transparency Rules.

 

Concert Party

 

Following the issue of the New Shares to Oyungerel Janchiv and Enkhmaa Davaanyam, the Petrovis Group (being Petrovis, its underlying shareholders and their family members) will hold 144,050,322 ordinary shares, representing 50.11 per cent. of the Company's enlarged issued share capital.

  

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. 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.

 

Further Information:

 

Petro Matad Limited

John Henriksen, CFO

+976 11 331099

 

NOMAD and Broker

Westhouse Securities Limited

Alastair Stratton / Martin Davison

+44 (0)20 7601 6100

 

 


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