26 Jan 2017 10:02
Sirius Petroleum Plc
("Sirius" or the "Company")
Convertible Loan Facility - Notice of Conversion to Equity
Issue of Equity
Sirius Petroleum (AIM:SRSP), the investing company focussed on oil and gas exploration and development opportunities in Nigeria, announces that it has received notification from Calvet International Limited ("Calvet"), a family investment office, for the conversion of £70,000 of the Company's Convertible Loan Facility entered into on 8 May 2015 (the "Loan") into 14 million new Ordinary Shares in accordance with the terms of the Loan.
Application has been made for the new Ordinary Shares to be admitted to trading on AIM, which is expected to occur on, or around, 31 January 2017. Following the issue of the new Ordinary Shares, the Company will have 2,272,029,523 ordinary shares of 0.25 pence each in issue. No ordinary shares are held in treasury. The figure of 2,272,029,523 may be used by the Company's shareholders 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 Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
Enquiries:
Sirius Petroleum +44 20 3740 7640
Bobo Kuti / Jack Pryde
Cantor Fitzgerald Europe +44 20 7894 7000
Sarah Wharry / Craig Francis
Gable Communications +44 20 7193 7463
John Bick srsp@gablecommunications.com