Issue of Equity

RNS Number : 2872X

Petro Matad Limited

13 February 2012

 



Petro Matad Limited

("Petro Matad" or the "Company")

Issue of Equity

Issue of equity

Petro Matad announces that 206,987 ordinary shares of US$0.01 each (the "Performance Shares") were issued today under the Company's Long Term Equity Incentive Plan (the "Incentive Plan")based on length of service.  The 206,987 Performance Shares were issued, under the terms of the Incentive Plan, at nominal value.

The Company also announces that 11,250 ordinary shares (the "Option Shares") were issued today as a result of the exercise of options held by employees under the Incentive Plan.  The Option Shares were issued at an exercise price of 11 pence per share.

Following the issue of the Performance Shares and the Option Shares, Petro Matad will have 184,783,521 shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 184,783,521.

About Petro Matad Limited

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia.  The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia.  Block XX has an area of 10,340km² in the far eastern part of the country.  Blocks, IV and V are located in central Mongolia.  Block IV covers approximately 29,000km² and Block V approximately 21,150km².

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V.  Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

Further information:

Petro Matad Limited

Douglas J. McGay - CEO 

[phone]

Westhouse Securities Limited

Richard Baty/Petre Norton

[phone]

 

END

 

 

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