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24 Mar 2017 11:13
24 March 2017
Petro Matad Limited
("Petro Matad" or the "Company")
Directors' Dealings, Issue of Equity and Total Voting Rights
Dealings between Concert Party members
Petro Matad announces that on 24 March 2017 Dr Oyungerel Janchiv, a director of Petro Matad, sold 2,500,000 ordinary shares of US$0.01 each in the Company ("Shares") to Petrovis Matad Inc. ("Petrovis"), at 25p per Share. Each of Dr Oyungerel and Petrovis are members of the Petrovis Group Concert Party, as detailed further below.
Exercise of Options
Petro Matad further announces that it has issued 429,500 new Shares pursuant to the exercise of options by certain Directors and employees on 24 March 2017. The below table sets out the changes to Directors' shareholdings following the exercise of options:
Director | Options exercised | Exercise price per Share | Resultant shareholding | Percentage holding of enlarged issued share capital |
Oyungerel Janchiv* | 62,500 | £0.11 | 16,867,946 | 5.86% |
Ridvan Karpuz | 75,000 | £0.0788 | 2,021,209 | 0.70% |
Amarzul Tuul | 45,000 | £0.11 | 583,334 | 0.20% |
7,000 | £0.1975 |
* Dr Oyungerel Janchiv controls more than 20% of Petrovis. Her direct holding in Petro Matad of 16,867,946 Shares (following her share sale to Petrovis and exercise of options) is, for disclosure purposes, aggregated with that of Petrovis under the AIM definition of director's family. The aggregated holding of Dr Oyungerel and Petrovis is 111,552,208 Shares representing 38.74 per cent. of the Company's enlarged issued share capital.
Concert Party holding
Following the issue of the new Shares to Dr Oyungerel Janchiv, the Petrovis Group (being Petrovis, its underlying shareholders and their family members) will hold 144,112,822 Shares, representing 50.05 per cent. of the Company's enlarged issued share capital.
Application for admission of new Shares
Application has been made for the 429,500 new Shares, which rank pari passu with the Company's existing issued Shares, to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 30 March 2017.
Total Voting Rights
Following Admission, Petro Matad will have 287,924,275 ordinary shares in issue, which will also represent the total number of voting rights in the Company. No Share are held in Treasury. This figure should be used by shareholders 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Petro Matad Limited
Ridvan Karpuz, CEO +97 670 141 099 / +97 675 751 099
NOMAD and Broker
Stockdale Securities Limited
Richard Johnson / David Coaten +44 (0)20 7601 6100
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