Exercise of Share Options

RNS Number : 1627C

Predator Oil & Gas Holdings PLC

07 October 2022

 

FOR IMMEDIATE RELEASE

7 October 2022

  Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

  LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

 Exercise of Share Options

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, announces that it has received an exercise notice from Sarah Cope, a former director, in respect of share options issued to her pursuant to the Company's unapproved share option scheme.:

dated 18 May 2018 (at the date of the Company's admission to the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities) to subscribe for 1,001,370 new shares of no par value each in the Company ("New Ordinary Shares") at 2.8p per share.

The Company has therefore allotted and issued the total of 1,001,370 New Ordinary Shares following receipt of the aggregate £28,038.36 subscription price from Sarah Cope. These shares rank pari passu with the existing ordinary shares of the Company. Application will be made to the Financial Conduct Authority ("FCA") for the New Ordinary Shares to be admitted to listing on the Official List (standard listing segment) of the FCA and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (together "Admission"). It is expected that Admission will become effective at 8.00 a.m. on 12 October 2022.

The Company advises that, following this Admission, the Company's issued share capital will be 355,598,217 shares of no par value, each with one vote per share (and no such shares are held in treasury). The total number of voting rights is therefore 355,598,217.

The above figure of 355,598,217 may be used by shareholders as the denominator for the calculations to determine if they have a notifiable interest in the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules, or if such interest has changed.

Directors' Holdings

The  positions held by the Directors are as follows:

DIRECTOR	TOTAL SHARES	OPTIONS 18 May 2018	OPTIONS 27 October 2020	OPTIONS   31 January 2022	OPTIONS   5 July 2022
Paul Griffiths	30,085,793*	4,005,486	3,850,000	Nil	Nil
Lonny Baumgardner	555,600	Nil	Nil	7,855,486	Nil
Alistar Jury	Nil	Nil	Nil	Nil	2,000,000
Tom Evans	Nil	Nil	Nil	Nil	2,000,000

Details of the 2018 and 2020 option awards may be found in the Company's annual report.

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being the closing mid-market price on 4 July 2022, and will vest after 6 months.

Total Options and Warrants on issue

Following the exercise of the share options by Sarah Cope, the total options and warrants outstanding in the Company are as follows:

	OPTIONS 18 May 2018¹	OPTIONS 27 October 2020²	WARRANTS³	OPTIONS    31 January 20224	OPTIONS     5 July 2022⁵
Directors	4,005,486	7,150,000	Nil	8,855,486	4,000,000
Previous directors		3,300,000	Nil	1,000,000
Advisers and others	Nil	Nil	5,974,468	Nil

1)  18/5/18 options are exercisable at 2.8 pence per share

(2) 27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers at 

an exercise price of 2.8 pence per share (160,718 on 24 May 2018),  12 pence per share (2,000,000 on 15 February 2019), 4 pence per  share (2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share (690,000 on 28 March 2022) and 5.5 pence per share (3,600,000 on 23 August 2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's 2021 Annual Report and Financial Statements.

(4) 8,855,486 options are exercisable at 5.66 pence per share.

(5) 4,000,000 options are exercisable at 8.125 pence per share.

If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be  £2,023,225.

For further information visit www.predatoroilandgas.com

Follow the Company on twitter @PredatorOilGas.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

For more information please visit the Company's website at  www.predatoroilandgas.com : 

Enquiries:

Predator Oil & Gas Holdings Plc Paul Griffiths  Executive Chairman Lonny Baumgardner  Managing Director	Tel: [phone] [e-mail]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis	Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone] [e-mail]

Notes to Editors: 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up testing programme is being finalised to coordinate with a further drilling programme beginning in 2022.

Predator is seeking to further develop the remaining oil reserves of Trinidad's mature onshore oil fields through the application of CO2 EOR techniques and by sequestrating anthropogenic carbon dioxide to produce "greener" oil.

In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.

Predator has developed a Floating Storage and Regasification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.

The Company has a highly experienced management team with a proven track record in operations in the oil and gas industry.

 

END

 

 

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