Facts on free float of shares11 Jun 2025 14:45
Currently, Pennpetro has around 100–106 million shares outstanding, with a free float of about 80–82 million shares .
If the 62,633,333 new shares are approved and issued (as per the RNS), here’s what the numbers look like:
Category
Before Issuance
After Issuance
Total Shares
~100 million
~162.6 million
Free Float
~80 million
~142.6 millio
Total shares outstanding = ~100 M + 62.6 M = ~162.6 million
Free float = ~80 M + 62.6 M = ~142.6 million
So, after the general meeting, the free float would roughly be 142.6 million shares, assuming all the new shares become freely tradable.
Some new shares might be held by insiders or long-term holders, like:
• Founders
• Major investors
• Lenders who took shares in exchange for debt (as mentioned in the RNS)
2. If these holders don’t plan to sell (or have lock-in agreements), their shares technically exist but don’t add to the free float, because they’re not hitting the open market.
3. Sometimes, new shares can also come with restrictions — like a 6- or 12-month lock-in before the owner is allowed to sell.
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So what happens with Pennpetro’s 62.6 million new shares?
Here are two scenarios:
• Scenario A (Fully tradable):
If all 62.6M shares are admitted to market with no restrictions and the holders are willing to sell, the free float increases from ~80M to ~142.6M.
• Scenario B (Partially restricted):
If, say, half of those shares are held tightly by long-term investors or are locked in, the real free float might stay closer to 110M or even less — even though the official total share count has gone up.
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Bottom line:
Just because shares are issued doesn’t mean they’ll hit the open market right away. It depends on who owns them and whether they can or want to sell.
So yes — it’s entirely possible that only ~80 million shares remain actively traded even after the issue — at least in the short term
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