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Max Petroleum PLC (MXP)

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Thursday 11 September, 2014

Max Petroleum PLC

Updated Rule 2.10 Announcement

RNS Number : 4793R
Max Petroleum PLC
11 September 2014
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

AIM: MXP

11 September 2014

 

Max Petroleum Plc

("Max Petroleum" or the "Company")

 

Updated Rule 2.10 Announcement

In accordance with Rule 2.10 of the Code, Max Petroleum confirms that it currently has in issue 2,175,305,483 ordinary shares of 0.01p each. The International Securities Identification Number for the ordinary shares is GB00B0H1P667. The total number of shares attracting voting rights in the Company is therefore 2,175,305,483 and there are no ordinary shares held in Treasury. This figure may be used by shareholders to determine the percentage of issued ordinary share capital they hold in the Company and if they are required to notify an interest in, or a change to their interest in, the Company.

As an update to the Company's announcement on 9 September 2014, the Company confirms that 7,460,000 warrants held by former bondholders of Max Petroleum or their transferees ("bondholder warrants") expired on 8 September 2014, with no such bondholder warrants having been exercised. An additional 880,000 bondholder warrants, convertible into an aggregate of 880,000 ordinary shares of Max Petroleum, remain outstanding, which expire on 8 September 2015. The exercise price of these warrants is 5p and, based on the closing share price of 1.21p per ordinary share as at 10 September 2014, all the remaining bondholder warrants are considered to be significantly out of the money.

In addition, as of today, warrants held by the Macquarie Syndicate ("MBL warrants") are convertible into an aggregate of 97,624,047 ordinary shares of the Company at a weighted average exercise price of 5.23p. The MBL warrants expire on 31 December 2015. The lowest exercise price of the MBL warrants is 4.54p and, therefore, they are all considered to be significantly out of the money.

Both the bondholder warrants and the MBL warrants are transferable but are certificated and are not exchange traded instruments.

Enquiries:

Max Petroleum Plc

Tom Randell

Director of Investor Relations

Tel: +44 (0)203 713 4015

Oriel Securities Limited

Michael Shaw / Tom Yeadon

Tel: +44 (0)207 710 7600

Blackstone

Stephen Skrenta / Jonathan Lurvey

Tel: +44 (0)207 451 4000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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