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4 Nov 2019 15:31
4 November 2019
COLUMBUS ENERGY RESOURCES PLC
("Columbus", "CERP" or the "Company")
Issue of Equity - Total Voting Rights
Background
The Company has agreements with a limited number of contractors who provide services to the Company so that part of the relevant contractor's fee is paid in Company shares (the "Contractor Shares"). This has been done in accordance with the Company's ongoing cash management strategy and, more specifically, to align the interests of the Company with the contractors who are helping it achieve its objectives.
The relevant services up to 30 September 2019 have now been provided and therefore the Company has issued 6,000,000 new ordinary shares to those contractors (the "New Contractor Shares"), representing 0.72% of the 833,010,742 ordinary shares in issue prior to the issuance of the New Contractor Shares.
The New Contractor Shares will rank pari passu in all respects with the Company's existing ordinary shares. An application will be made for the New Contractor Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings will commence on or around 8 November 2019.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:
As at the date of this announcement, and after the issuance of the New Contractor Shares, the Company's issued share capital consists of 839,010,742 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting rights is 839,010,742. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries:
Columbus Energy Resources Plc | +44 (0) 207 203 2039 |
Leo Koot / Gordon Stein | |
Beaumont Cornish Limited | +44 (0) 20 7628 3396 |
Nomad | |
Roland Cornish / Rosalind Hill Abrahams | |
VSA Capital | +44 (0) 20 3005 5000 |
Broker | |
Andrew Monk / Andrew Raca | |
Celicourt Communications Public and Investor Relations Mark Antelme / Jimmy Lea | +44 (0) 20 8434 2643 |
Notes to Editors:
Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus is operationally cashflow positive and aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner.
Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible.
The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business.
To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP.
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