Issue of Shares to Executive Directors

Predator Oil & Gas Holdings PLC

01 December 2023

 

FOR IMMEDIATE RELEASE

1 December 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")

             Issue of Shares to Executive Directors

Predator, the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, advises of the issuance of the following new Ordinary Shares:

Issuance Shares to Executive directors

In recognition of the work undertaken to bring forth the Company's drilling programme in Morocco and successful drilling results, the Company's Remuneration Committee have resolved to make the following award of new Ordinary Shares under the Executive Directors bonus scheme:

To:  Paul Griffiths (Executive Chairman):

 Award of 1,329,787 Shares

To:  Lonny Baumgardner

 Award of 1,329,787 Shares

The award comprises 50% of the Executive Directors overall bonus related to the drilling programme in Morocco and represents an award of £125,000 to each of Paul Griffiths and Lonny Baumgardner at the closing mid-market share price of 30 November 2023.  The remaining 50% remains payable and the Executive Directors have the option of receiving the remaining amount by way of additional shares or cash at their discretion. 

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 7 December 2023.

The Company advises that, following this Admission, the Company's issued share capital will be  565,161,662  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 565,161,662. 

The above figure of 565,161,662  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.

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 David Coffman / Jon Belliss Fox-Davies Capital Jerry Keen	Tel: [phone] Tel   [phone]  [e-mail]
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 less than 10 kilometres from the Maghreb gas pipeline.  The MOU-1 well drilled in 2021 and the MOU-3 well drilled in 2023 have been completed for rigless testing in 2024. Focus is on supplying compressed natural gas to the Moroccan industrial market. Further drilling activity is being progressed to evaluate Jurassic prospects.

Predator is seeking to apply CO2 EOR techniques onshore Trinidad which have the advantage of  sequestrating anthropogenic carbon dioxide. Acquisition opportunities are also being progressed which are compatible with this strategy.

Predator 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 successfully executing operations in the oil and gas sector.

 

END