Last checked at 1 Apr 2022 07:00
FOR IMMEDIATE RELEASE
1 April 2022
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")
Admission of Placing Shares
Further to the Company's announcement of 17 March 2022, the new Second Tranche Shares, being 6,500,000 Ordinary Shares of no par value, were admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission") effective at 8.00 am today.
As announced on 17 March 2022, Lonny Baumgardner, Chief Operating Officer, agreed to subscribe for 555,600 new ordinary shares, representing a subscription of £50,000 (the "Director Subscription").
Related Party Transaction
Lonny Baumgardner is a director of the Company. The Director Subscription is considered to be a related party transaction ("Related Party Transaction").
Paul Griffiths and Louis Castro, being the independent directors for the purposes of the Related Party Transaction consider that the terms and conditions of the Director Subscription are fair and reasonable insofar as the shareholders of the Company are concerned.
Warrants
In connection with the fundraising, 690,000 warrants, exercisable at 9p per new ordinary share with a 3 year expiry, will be issued to Novum Securities Limited or their nominees.
Total Voting Rights
Following Admission, the Company has shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 304,446,267. This figure of 304,446,267 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse
For more information please visit the Company's website at www.predatoroilandgas.com:
Enquiries:
Predator Oil & Gas Holdings Plc Paul Griffiths Chief Executive Officer Lonny Baumgardner Chief Operating Officer | Tel: +44 (0) 1534 834 600 Info@predatoroilandgas.com |
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Novum Securities Limited Jon Belliss
Optiva Securities Limited Christian Dennis
Peterhouse Capital Limited Charles Goodfellow | Tel: +44 (0) 207 399 9425
Tel: +44 (0) 203 137 1902
Tel: +44 (0) 207 220 9791 |
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Flagstaff Strategic and Investor Communications Tim Thompson Mark Edwards Fergus Mellon | Tel: +44 (0) 207 129 1474 predator@flagstaffcomms.com |
Notes to Editors:
Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline. The MOU-1 well has been completed and a follow-up testing programme is being developed and a further drilling programme is under review.
Predator is seeking to further develop the remaining oil reserves of Trinidad's mature onshore oil fields through the application of CO2 EOR techniques and by sequestrating anthropogenic carbon dioxide to produce "greener" oil.
In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.
Predator has developed a Floating Storage and Regasification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.
The Company has a highly experienced management team with a proven track record in operations in the oil and gas industry.