Last checked at 30 Nov 2022 07:00
FOR IMMEDIATE RELEASE
30 November 2022
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
LEI 213800L7QXFURBFLDS54
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")
Admission of Shares
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, announces that further to the Company's announcement of 24 November 2022 that it had received an exercise notice from Paul Griffiths, an executive director, in respect of 7,855,486 share options and Lonny Baumgardner, an executive director, in respect of 7,855,486 share options issued to them pursuant to the Company's unapproved share option scheme, 15,710,972 Ordinary Shares of no par value ranking pari passu with the existing ordinary shares of the Company, 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.
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 383,759,189. This figure of 383,759,189 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.
Directors' Holdings
Following the issue of the Ordinary Shares as described above and their placing to provide the Directors Loan to the Company as announced on 24 November 2022, and inclusive of shares and options already held by Directors, the positions held by the Directors is as follows:
DIRECTOR | TOTAL SHARES | OPTIONS 27 October 2020 | OPTIONS 31 January 2022 |
Paul Griffiths | 40,085,793* | Nil | Nil |
Lonny Baumgardner | 555,600 | Nil | Nil |
Alistar Jury | Nil | Nil | Nil |
Carl Kindinger | 1,350,577 | Nil | Nil |
DIRECTOR | OPTIONS 5 July 2022 | OPTIONS 9 November 2022 | OPTIONS 23 November 2022 |
Paul Griffiths | Nil | 7,500,000 | 7,855,486 |
Lonny Baumgardner | Nil | 7,500,000 | 7,855,486 |
Alistar Jury | 2,000,000 | Nil | Nil |
Carl Kindinger | Nil | 2,000,000 | Nil |
*
5 million shares loaned to the Company to complete a Placing announced on 17 August 2022 are to be returned to Paul Griffiths by the Company when the Company has the ability to issue further shares.
Details of the 2020 option awards may be found in the Company's annual report.
Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being the closing mid-market price on 4 July 2022, and will vest after 6 months.
Options issued on 9 November 2022 to Carl Kindinger are exercisable at 7.75 pence per share, being the closing mid-market price on 8 November 2022 and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.
Options issued on 9 November 2022 to Paul Griffiths and Lonny Baumgardner are exercisable at 10.0 pence per share and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.
Options issued on 23 November 2022 to Paul Griffiths and Lonny Baumgardner are exercisable at 8.0 pence per share and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.
Total Options and Warrants on issue
The total options and warrants outstanding in the Company are as follows:
OPTIONS 27 October 2020¹ | WARRANTS² | OPTIONS 31 January 2022³ | OPTIONS 5 July 2022⁴ | |
Directors | Nil | Nil | Nil | 2,000,000 |
Previous director | 3,300,000 | Nil | 1,000,000 | 2,000,000 |
Advisers and others | Nil | 8,464,468 | Nil |
OPTIONS 9 November 2022⁵ | OPTIONS 23 November 2022⁶ | ||
Directors | 17,000,000 | 7,855,486 | |
Previous director | Nil | 7,855,486 | |
Advisers and others | Nil | Nil |
(1) 27/10/20 options are exercisable at 5 pence per share
(2) Warrants include outstanding warrants issued to Company advisers at
an exercise price of 2.8 pence per share (160,718 on 24 May 2018), 12 pence per share (2,000,000 on 15 February 2019), 4 pence per share (2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share (690,000 on 28 March 2022), 5.5 pence per share (1,800,000 on 23 August 2022) and 8.0 pence per share (1,099,768 on 23 November 2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's 2021 Annual Report and Financial Statements.
(3) 1,000,000 options are exercisable at 5.66 pence per share.
(4) 4,000,000 options are exercisable at 8.125 pence per share.
(5) 15,000,000 options are exercisable at 10 pence per share
2,000,000 options are exercisable at 7.75 pence per share
(6) 15,710,972 options are exercisable at 8.0 pence per share
If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be £4,236,909.
For further information visit www.predatoroilandgas.com
Follow the Company on twitter @PredatorOilGas.
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 Executive Chairman Lonny Baumgardner Managing Director | Tel: +44 (0) 1534 834 600 Info@predatoroilandgas.com |
Novum Securities Limited Jon Belliss David Coffman
Optiva Securities Limited Christian Dennis
| Tel: +44 (0) 207 399 9425
Tel: +44 (0) 203 137 1902
|
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 finalised to coordinate with a further drilling programme beginning in 2022.
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.