4 Jul 2022 07:00
4 July 2022
EGDON RESOURCES PLC
("Egdon" or "the Company")
BLOCK LISTING APPLICATION
Egdon Resources plc (AIM:EDR), a UK focused energy company, announces that an application has been made to the London Stock Exchange plc for a block listing of securities in respect of 49,299,000 ordinary shares of £0.01 each (the 'New Ordinary Shares') to be admitted to trading on AIM.
The New Ordinary Shares will be issued from time to time in order to satisfy the remaining outstanding warrants which may be exercised. It is expected that admission will become effective on 8 July.
The block listing consists of 49,299,000 ordinary shares in respect of the remaining outstanding warrants granted in July 2021 as part of the Company's £1.44 million fundraise through the issue of 115,228,000 new ordinary shares at a price of 1.25 pence per share. As part of this raise, each two subscription shares were granted a right to subscribe for one new ordinary share at a price of 2.5 pence per share (the "warrants"). The warrants are exercisable at any time until 23 July 2023.
For the avoidance of doubt these applications are not applications to list the warrants themselves on any regulated market but merely an administrative measure to ensure that the Company does not need to make multiple applications for admission of ordinary shares to trading on each separate occasion when the existing warrants are exercised by holders. There are no changes to the terms and conditions of the warrants.
Following the Block Admission, the Company's issued share capital will remain unchanged at 525,092,031 ordinary shares. The Company will make six-monthly announcements of the utilisation of the Block Admission, in line with its obligations under AIM Rule 29.
When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of £0.01 each in the capital of the Company.
For further information please contact:
Egdon Resources plc
Mark Abbott, Martin Durham 01256 702 292
Buchanan
Ben Romney, Jon Krinks 020 7466 5000
Nominated Adviser & Joint Broker - WH Ireland Limited
Chris Hardie, Megan Liddell 020 7220 1666
Joint Broker & Financial Advisors - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
About Egdon:
Egdon Resources plc (LSE: EDR) is an established UK-based energy company focused on onshore exploration and production in the UK.
Egdon holds interests in 37 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets. Egdon is an approved operator in the UK. Egdon was formed in 1997 and listed on AIM in December 2004.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain