Exercise of Warrants

RNS Number : 5884S

Predator Oil & Gas Holdings PLC

17 March 2021

 

FOR IMMEDIATE RELEASE

17 March 2021

  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 Warrants

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland announces that it has received an exercise notice in respect of warrants issued pursuant to a warrant agreement with the Company dated 24 May 2018 (in connection with the Placing carried out by the Company in May 2018 on admission of the Company to the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities ) to subscribe for 267,750 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 267,750 New Ordinary Shares following receipt of the aggregate £7,497 subscription price. 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"). 

The Company advises that, following this Admission and the Admission of Placing Shares announced on 12 March 2021 , the Company's issued share capital will be 256,946,267  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 256,946,267.

The above figure of 256,946,267 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.

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 Dr. Stephen Staley Non-executive Chairman Paul Griffiths  Chief Executive Officer	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 an oil and gas exploration company with the objective of participating with FRAM Exploration Trinidad Ltd. in further developing the remaining oil reserves and sequestrating anthropogenic carbon dioxide in the producing Inniss Trinity oil field onshore Trinidad, primarily through the application of C02 EOR technology. Potential for cash flow exists by executing a successful Pilot Enhanced Oil Recovery project using locally sourced liquid carbon dioxide for injection into and storage within the oil reservoirs ("C02 EOR"). Near-term expansion and production growth potential is focussed on upscaling the C02 EOR operations in the Inniss-Trinity oil field, subject to all necessary approvals. 

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.  A drilling programme, subject to the lifting of COVID-19 restrictions, targeting material prospective gas resources is scheduled for Q2 2021.

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 Kinsale gas field and Barryroe oil field in the Celtic Sea.

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

 

END

 

 

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