Exercise of Warrants

RNS Number : 9935R

Predator Oil & Gas Holdings PLC

06 March 2023

 

FOR IMMEDIATE RELEASE 

 6 March 2023

  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 from Optiva Securities Limited ("Optiva") in respect of 2,035,714 warrants issued to it pursuant to warrant agreements with the Company:

1,875,000 of the warrants are exercisable at 4 pence per share whilst the balance of 160,714 warrants are exercisable at 2.8 pence per share

The Company has therefore allotted and issued to Optiva the total of 2,035,714 new ordinary shares (the "New Shares") following receipt of the aggregate £79,500.

Application is being made for the New Shares to be admitted listing on the Official List  and to trading on the Main Market of the London Stock Exchange's which is expected to be on or around 9 March 2023.

The New Shares rank pari passu with the existing ordinary shares of the Company. Following the issue of the New Shares, the Company's issued ordinary share capital shall consist of 385,794,903 ordinary shares of no par value. The figure of 385,794,903 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure Guidance & Transparency Rules.

Applications will be made to the FCA and to the London Stock Exchange for Admission in respect of all the Issue Shares proposed to be issued on completion of the Further Issue.  It is expected that Admission will become effective, and that dealings in the Issue Shares are expected to commence, at 8.00 a.m. on 9 March 2023.

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 David Coffman 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. The MOU-2 well has been suspended pending evaluation and potential further well operations.

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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