Information  X 
Enter a valid email address

Petroneft Resources (PTR)

  Print          Annual reports

Thursday 08 April, 2021

Petroneft Resources

Conversion of Debt

RNS Number : 7525U
Petroneft Resources PLC
08 April 2021


April 8th 2021





PetroNeft Resources plc

("PetroNeft" or the "Group" or the "Company")

Conversion of Debt

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and  50% owner and operator of Licence 61, is pleased to provide a financing update.


· $156,000 of debt converted to equity under the 2019 convertible loan agreement for the issuance of 10,084,034 new Ordinary shares.


Loan facility

PetroNeft historically entered into a convertible loan agreement June 24th 2019 for US$1.3 Million with a group of five lenders. Lenders under this agreement have the right to convert up to 65% of the outstanding loan amount at a conversion price of US$0.01547 per share. Three of the five lenders have already converted the maximum amount under this agreement earlier this month.

Daria Shaftelskaya currently owns 90,670,555 ordinary shares, with this issuance of 10,084,034 her resulting shareholding will increase to 100,754,589 shares being 9.64% of the shares in circulation.

The conversion of this debt to shares will result in the outstanding debt under this agreement being reduced from $0.661 Million to $0.505 Million and will result in an increase in the total number of issued shares in the Company from 1,035,151,353 to 1,045,235,387. The shares are being issued at a premium to the share price on the date when the terms of the agreement were announced.

Application will be made to the London Stock Exchange and Euronext Dublin for the 10,084,034 PetroNeft ordinary shares to be admitted to trading on AIM and Euronext Growth. It is expected that admission to trading on each exchange will become effective and that dealings in the New Ordinary Shares will commence on AIM and Euronext Growth at 8.00 a.m. on 14 April 2021.

For further information, contact:

 David Sturt, CEO, PetroNeft Resources plc

+44 7903 869 608 

 John Frain / Caroline Pearson, Davy (NOMAD and Broker) 

+353 1 679 6363 

 Joe Heron / Douglas Keatinge, Murray Consultants

+353 1 498 0300


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

a d v e r t i s e m e n t