Petro Matad Regulatory News (MATD)

11 July 2018

Petro Matad Limited

("Petro Matad" or the "Company")

Transactions by Director

On 10 July 2018 Petro Matad was notified of the following sales by Dr Oyungerel Janchiv, non-executive director of Petro Matad, of ordinary shares of US$0.01 each in the Company ("Shares").

Dr Oyungerel and Petrovis Matad Inc. ("Petrovis") are members of the Petrovis Group Concert Party. Dr Oyungerel controls more than 20% of Petrovis. Her resultant direct holding in Petro Matad of 12,345,230 Shares (following the transactions detailed above and inclusive of the 77,284 Shares acquired by Dr Oyungerel on 16 April 2018) 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 158,440,810 Shares representing 23.9 per cent. of the Company's issued share capital. 

The combined shareholdings of the Petrovis Group (being Petrovis, its underlying shareholders and their family members) is 195,849,199 Shares, representing 29.6 per cent. of the Company's issued share capital.

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About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds 100% working interest and operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.