18 Jun 2019 08:41
18 June 2019
Phoenix Global Resources plc
("Phoenix" or the "company")
Holding in Company
The Board of Phoenix (AIM:PGR; BCBA:PGR) announces the receipt of a standard form for notification of major shareholdings with further details provided below.
Mercuria now holds, pre-dilution, 2,329,762,468 ordinary shares in Phoenix, which represent 83.60% of the Company's issued share capital.
TR-1
NOTIFICATION OF MAJOR HOLDINGS | ||||||
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | Phoenix Global Resources plc | |||||
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) | ||||||
Non-UK issuer | ||||||
2. Reason for the notification (please mark the appropriate box or boxes with an "X") | ||||||
An acquisition or disposal of voting rights | X | |||||
An acquisition or disposal of financial instruments | X | |||||
An event changing the breakdown of voting rights |
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Other (please specify): |
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3. Details of person subject to the notification obligation | ||||||
Name | Mercuria Energy Group Holding Ltd | |||||
City and country of registered office (if applicable) | Larnaca, Cyprus | |||||
4. Full name of shareholder(s) (if different from 3.) | ||||||
Name | 1) Upstream Capital Partners VI Ltd 2) Mercuria Energy Netherlands B.V. 3) Mercuria Asset Holding (Hong Kong) Limited 4) Mercuria Energy Asset Management B.V. | |||||
City and country of registered office (if applicable) | 1) Larnaca, Cypus 2) Utrecht, Netherlands 3) Hong Kong, China 4) Utrecht, Netherlands | |||||
5. Date on which the threshold was crossed or reached: | 14/06/2019 | |||||
6. Date on which issuer notified (DD/MM/YYYY): | 14/06/2019 | |||||
7. Total positions of person(s) subject to the notification obligation | ||||||
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments(total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights of issuer | ||
Resulting situation on the date on which threshold was crossed or reached | 69.843% (Post dilution) | 16.249% (Post dilution) | 86.092% (Post dilution) | 3,335,722,191 (Post dilution) | ||
Position of previous notification (if applicable) | 72.880% (Post dilution) | 12.211% (Post dilution) | 85.091% (Post dilution) |
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| 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached |
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| A: Voting rights attached to shares |
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| Class/type ofshares ISIN code (if possible) | Number of voting rights | % of voting rights |
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| Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) | Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) | Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) | Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
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| GB00B7LHJ340 | 0 | 2,329,762,468 | 0% | 69.843% |
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| SUBTOTAL 8. A | 2,329,762,468 | 69.843% |
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| B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) | |||||||||||||||||
| Type of financial instrument | Expirationdate | Exercise/Conversion Period | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights | |||||||||||||
| Warrants | Various | Various | 26,456,475 | 0.793% | |||||||||||||
| Convertible loan | 15/12/2021 | 30/06/2018 to 15/12/2021 | 284,141,436 | 8.518% | |||||||||||||
| Convertible loan | 15/12/2021 | 30/06/2019 to 15/12/2021 | 214,057,443 | 6.417% | |||||||||||||
| Convertible loan | 15/12/2021 | 30/06/2020 to 15/12/2021 | 17,372,778 | 0.521% | |||||||||||||
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| SUBTOTAL 8. B 1 | 542,028,132 | 16.249% | |||||||||||||
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| B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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| Type of financial instrument | Expirationdate | Exercise/Conversion Period | Physical or cash settlement | Number of voting rights | % of voting rights |
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| SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer |
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Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) | X |
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Name | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold |
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Mercuria Energy Group Ltd | 69.843% | 16.249% | 86.092% |
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Upstream Capital Partners VI Ltd | 57.698% | 0.749% | 58.447% |
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Mercuria Energy Netherlands B.V. | 0.00% | 15.456% | 15.456% |
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Mercuria Asset Holding (Hong Kong) Limited | 10.221% | 0.000% | 10.221% |
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Mercuria Energy Asset Management B.V. | 1.924% | 0.044% | 1.968% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional information |
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Place of completion | London, UK |
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Date of completion | 14/06/2019 |
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- Ends -
For further information, please contact:
Phoenix Global Resources plc | Kevin Dennehy, CFO
| T: +54 11 5258 7500 |
Stockdale Securities | Antonio Bossi David Coaten
| T: +44 20 7601 6100 |
Panmure Gordon | Charles Lesser
| T: +44 20 7886 2500 |
Camarco | Billy Clegg Owen Roberts James Crothers | T: +44 20 3757 4980 |
About Phoenix
Phoenix Global Resources is an independent oil and gas exploration and production company focused on Argentina and listed on the London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR). The Company has over 1.8 million licenced working interest acres in Argentina (of which over 0.7 million are operated), 57.1 million boe of working interest 2P reserves and average working interest production of approximately 10,249 boepd in 2018. Phoenix has significant exposure to the unconventional opportunity in Argentina through its approximately 700,000 working interest acres with Vaca Muerta and other unconventional potential.
The Company's website is www.phoenixglobalresources.com