Issue of Equity

RNS Number : 6267D

Petro Matad Limited

25 March 2011

 

 

Petro Matad Limited ("Petro Matad" or the "Company")

Issue of Equity

Petro Matad announces that 191,479 ordinary shares of US$0.01 each (the "Performance Share Award Shares") were issued today under the Company's Long Term Equity Incentive Plan (the "Plan").  The 191,479 Performance Share Award Shares were issued, under the terms of the Plan, at nominal value.

The Performance Share Award Shares will rank pari passu with the existing ordinary shares of the Company.  Application has been made for the Performance Share Award Shares to be admitted to trading on AIM and this is envisaged to occur on 31 March 2011.

Following the issue of the Performance Award Shares, there will be 183,253,056 ordinary shares in issue.

Note to Editors:

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.  The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia.  The principal asset is the PSC for Block XX, a petroleum block of 10,340km² in the far eastern part of the country.  The two other Blocks, IV and V are located in central Mongolia and jointly cover 71,040km².

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

Douglas J. McGay - CEO 

[phone]

Westhouse Securities Limited

Richard Baty/Petre Norton

[phone]

 

END

 

 

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