4 Jul 2017 07:00
04 July 2017
The Company released an announcement on 22 June 2017 at 6.11pm under RNS No 9525I regarding the conversion of shares by Helios. The number of shares held by Helios post-conversion was incorrectly stated to be 62,670,073 instead of 62,669,943.
All other details remain unchanged.
The full amended text is shown below.
Eland Oil & Gas PLC
("Eland" or the "Company")
Conversion of Shares by Helios Natural Resources Ltd. ("Helios")
Eland Oil & Gas PLC (AIM:ELA), the oil and gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, announces that following the recent $19.5m placing ("June Placing"), where Helios' shareholding in the Company was reduced to 26.36%, Helios has requested the conversion of its remaining 6,296,815 non-voting ordinary shares into voting ordinary shares in the Company to bring its voting rights closer to their position pre-June Placing.
Following the conversion, Helios will cease to hold any non-voting ordinary shares and will hold 62,669,943 voting ordinary shares in the Company, which will represent 28.47% of the enlarged issued voting ordinary share capital. The Company will no longer have any non-voting shares in issue and does not, at this time, intend to issue any further non-voting shares.
Application has been made to the London Stock Exchange for the admission to trading of the new voting ordinary shares, which is expected at 8.00am on 28 June 2017.
The Company's enlarged issued share capital immediately following admission will consist of 220,164,155 voting ordinary shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Eland under the Financial Conduct Authority's Disclosure and Transparency Rules.
Eland Oil & Gas PLC (+44 (0)1224 737300)
www.elandoilandgas.com
George Maxwell, CEO
Olivier Serra, CFO
Finlay Thomson, IR
Canaccord Genuity Limited (+44 (0)20 7 523 8000)
Henry Fitzgerald O'Connor / James Asensio
Panmure Gordon (UK) Limited (+44 (0)20 7 886 2500)
Adam James / Atholl Tweedie
Tom Salvesen
Camarco (+44 (0) 203 757 4980)
Billy Clegg / Georgia Edmonds