27 Jun 2018 07:02
27 June 2018
Phoenix Global Resources plc
("Phoenix" or the "Company")
Admission to trading and total voting rights
Further to the announcements issued earlier this morning and an exercise of options at 10p each over 535,714 ordinary shares, Phoenix Global Resources plc (AIM: PGR; BCBA: PGR) confirms the allotment and issue subject to admission to trading on AIM of 14,935,301 ordinary shares of 10 pence each in the Company (the "New Ordinary Shares"). The New Ordinary Shares have been allotted and issued: (i) in satisfaction of the second instalment of a payment due under the Transaction Services Fee Agreement dated 24 July 2017 and rights existing under the Share Purchase Agreement dated 24 July 2017; (ii) following the exercise of employee share options; and (iii) to Sir Michael Rake, the Chairman of the Company, in respect of fees accrued pursuant to the terms of his appointment as a non-executive director for the period up to the completion of the business combination with Trefoil Holdings B.V..
Application has been made for admission of the New Ordinary Shares to trading on AIM and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 2 July 2018. The New Ordinary Shares will rank pari-passu with the Company's existing issued ordinary shares.
Following admission of the New Ordinary Shares, the total number of shares in issue will be 2,761,644,709. The Company does not hold any Shares in treasury. 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, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
- ENDS -
For further information, please contact:
Phoenix Global Resources plc | Anuj Sharma, CEO Philip Wolfe, CFO
| T: +54 11 5258 7500 T: +44 20 3912 2805 |
Stockdale Securities | Antonio Bossi Ed Thomas | T: +44 20 7601 6100 |
Panmure Gordon |
Adam James Atholl Tweedie |
T: +44 20 7886 2500 |
Camarco |
Billy Clegg Owen Roberts James Crothers |
T: +44 20 3757 4980 |
About Phoenix
Phoenix Global Resources plc (AIM: PGR; BCBA: PGR) is an upstream oil and gas company offering its investors an opportunity to invest directly into Argentina's Vaca Muerta shale formation and other unconventional resources. The Vaca Muerta is the only producing shale outside of the US and has attracted significant major entrants including Total, BP, Chevron, ExxonMobil, Qatar Petroleum, Petronas, Shell and Equinor. The Company has 560,000 net Vaca Muerta acres covering approximately 7.5% of the formation, with three core Vaca Muerta areas (Puesto Rojas, Mata Mora and Corralera). The Company's unconventional acreage is underpinned by 57.2 MMboe conventional proven and probable reserves and 11,070 boepd of production in 2017. The Company's strategy is to invest in drilling activity in its Vaca Muerta acreage to increase resources, reserves and production and is well capitalised and of a scale to do so.
The Company's website is www.phoenixglobalresources.com