Petro Matad Ltd (MATD)

 

LSE:MATD: Issue of Equity

Petro Matad Ltd

01 Sep 2017 14:29:28

Petro Matad Ltd

RNS Number : 6220P
Petro Matad Limited
01 September 2017
 

1 September 2017

Petro Matad Limited

("Petro Matad" or the "Company")

Issue of Ordinary Shares

The Company announces that it has received notice of conversion of the US$1,500,000 convertible instrument subscribed by Bergen Global Opportunities Fund, LP ("Bergen") (details of which were set out in the Company's announcement on 15 August 2017) (the "Announcement"). Consequently, the Company has issued 16,784,344 new ordinary shares (the "Conversion Shares") at a conversion price of 7p per share, calculated in accordance with the terms of the convertible instrument as set out in the Announcement, to Bergen.   

Application has been made for the Conversion Shares to be admitted to trading on AIM with admission expected to take place on 7 September 2017. The Conversion Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Conversion Shares, the Company's enlarged issued share capital will comprise 333,258,252 ordinary shares with voting rights. This figure of 333,258,252 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority.

 

About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km² in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.

For more information, please contact:

Petro Matad Limited


Ridvan Karpuz, CEO

+97 670 141 099 / +97 675 751 099

NOMAD and Broker

Stockdale Securities Limited


Richard Johnson / David Coaten

+44 (0)20 7601 6100

  Business Advisory Firm

FTI Consulting

Edward Westropp                                                              +44 (0)20 3727 1521 / +44 (0)7920453705


This information is provided by RNS
The company news service from the London Stock Exchange
 
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