Last checked at 12 Jul 2022 07:00
FOR IMMEDIATE RELEASE
12 July 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")
Exercise of Warrants
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland announces that it has received an exercise notice from Novum Securities Limited ("Novum") in respect of warrants issued to it pursuant to warrant agreements with the Company:
dated 24 May 2018 (in connection with the Placing carried out by the Company in May 2018 on admission of the Company to the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities) to subscribe for 1,892,960 new shares of no par value each in the Company ("New Ordinary Shares") at 2.8p per share, and
dated 17 February 2020 (in connection with the Placing carried out by the Company in February 2020) to subscribe for 2,256,250 new shares of no par value each in the Company ("New Ordinary Shares") at 4p per share.
The Company has therefore allotted and issued the total of 4,149,210 New Ordinary Shares following receipt of the aggregate £143,252.88 subscription price from Novum. Application will be made to the Financial Conduct Authority ("FCA") for the New Ordinary Shares to be admitted to listing on the Official List (standard listing segment) of the FCA and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (together "Admission").
The Company advises that, following this Admission, the Company's issued share capital will be 308,595,477 shares of no par value, each with one vote per share (and no such shares are held in treasury). The total number of voting rights is therefore 308,595,477.
The above figure of 308,595,477 may be used by shareholders as the denominator for the calculations to determine if they have a notifiable interest in the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules, or if such interest has changed.
Directors' Holdings
The positions held by the Directors are as follows:
DIRECTOR | TOTAL SHARES | OPTIONS 18 May 2018 | OPTIONS 27 October 2020 | OPTIONS 31 January 2022 | OPTIONS 5 July 2022 |
Paul Griffiths | 46,871,508 | 4,005,486 | 3,850,000 | Nil | Nil |
Stephen Staley | 669,600 | 1,001,370 | 1,650,000 | Nil | Nil |
Louis Castro | Nil | Nil | 1,650,000 | 1,000,000 | Nil |
Lonny Baumgardner | 555,600 | Nil | Nil | 7,855,486 | Nil |
Alistar Jury | Nil | Nil | Nil | Nil | 2,000,000 |
Tom Evans | Nil | Nil | Nil | Nil | 2,000,000 |
Details of the 2018 and 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.
Total Options and Warrants on issue
Following the exercise of the warrants by Novum, the total options and warrants outstanding in the Company are as follows:
OPTIONS 18 May 2018¹ | OPTIONS 27 October 2020² | WARRANTS³ | OPTIONS 31 January 20224 | OPTIONS 5 July 2022⁵ | |
Directors | 5,006,856 | 7,150,000 | Nil | 8,855,486 | 4,000,000 |
Previous director | 1,001,370 | Nil | Nil | Nil | |
Advisers and others | Nil | Nil | 5,974,468 | Nil |
(1) 18/5/18 options are exercisable at 2.8 pence per share
(2) 27/10/20 options are exercisable at 5 pence per share
(3) 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) and 9 pence per share (690,000 on 28 March 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.
(4) 8,855,486 options are exercisable at 5.66 pence per share.
(5) 4,000,000 options are exercisable at 8.125 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 £1,881,301.
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
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 |
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.