Issue of Shares

RNS Number : 9213Z

Highlands Natural Resources PLC

20 March 2017

 

Highlands Natural Resources plc ('Highlands' or 'the Company')

Issue of Shares

On 10 March 2017, Highlands, the London-listed natural resources company announced that it had executed an expanded agreement (the "Agreement") with Renegade Oil & Gas Company LLC ("Renegade") which significantly enhanced the Company's land position and operational flexibility in its East Denver Niobrara shale play.

Pursuant to that Agreement, Highlands has today issued 3,500,000 ordinary shares to Renegade in satisfaction of the consideration.  Accordingly, an application has been made for an additional 3,500,000 ordinary shares in the Company to be admitted to trading on the Official List of the UK Listing Authority by way of a Standard Listing and to trading on the London Stock Exchange's Main Market for listed securities ("Admission").  Admission is expected to take place on 23 March 2017.

Accordingly, following Admission, the total number of ordinary shares in Highlands with voting rights will be 67,787,349.  This figure may be used by Highlands shareholders as the denominator for calculations to determine if they have a notifiable interest in Highlands under the Disclosure and Transparency Rules, or if such interest has changed. 

Disclosure of notifiable interests

Due to the issue of the above ordinary shares, although the number of ordinary shares held by Robert Price, Executive Chairman of Highlands, has not changed, with effect from Admission his holding represents 17.70 per cent. of the Company's total voting rights.

Also with effect from Admission Renegade's holding of 3,500,000 ordinary shares represents 5.16 per cent. of the Company's total voting rights.  

**ENDS**

For further information, please visit www.highlandsnr.com, or contact:

Robert Price	Highlands Natural Resources plc	+1 (0)  303 322 1066
Nick Tulloch	Cenkos Securities plc	[phone]
Neil McDonald	Cenkos Securities plc	[phone] / [phone]
Lottie Brocklehurst	St Brides Partners Ltd	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]

Notes to Editors

Highlands (LSE: HNR.L) is a London-listed natural resources company with a portfolio of high-potential oil, gas and helium assets and technologies. The company's core projects include:

·     East Denver Niobrara: a farm-in opportunity for horizontal oil and gas wells targeting the Niobrara shale formation in a well-studied area of the Denver Julesburg Basin.

·     DT Ultravert: a re-fracking and parent well protection technology with 20 patents pending in the United States and internationally. Highlands is advancing commercial conversations with a range of oil and gas operators to create revenue-sharing opportunities for DT Ultravert applications.

·     Helios Two: a 105,000+ acre helium and natural gas prospect in SE Montana with drilling and assessment operations ongoing.

 

END

 

 

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