Egdon Resources PLC BLOCK LISTING APPLICATION (0726R)
04 July 2022 - 4:00PM
UK Regulatory
TIDMEDR
RNS Number : 0726R
Egdon Resources PLC
04 July 2022
4 July 2022
EGDON RESOURCES PLC
("Egdon" or "the Company")
BLOCK LISTING APPLICATION
Egdon Resources plc (AIM:EDR), a UK focused energy company ,
announces that an application has been made to the London Stock
Exchange plc for a block listing of securities in respect of
49,299,000 ordinary shares of GBP0.01 each (the 'New Ordinary
Shares') to be admitted to trading on AIM.
The New Ordinary Shares will be issued from time to time in
order to satisfy the remaining outstanding warrants which may be
exercised. It is expected that admission will become effective on 8
July.
The block listing consists of 49,299,000 ordinary shares in
respect of the remaining outstanding warrants granted in July 2021
as part of the Company's GBP1.44 million fundraise through the
issue of 115,228,000 new ordinary shares at a price of 1.25 pence
per share. As part of this raise, each two subscription shares were
granted a right to subscribe for one new ordinary share at a price
of 2.5 pence per share (the "warrants"). The warrants are
exercisable at any time until 23 July 2023.
For the avoidance of doubt these applications are not
applications to list the warrants themselves on any regulated
market but merely an administrative measure to ensure that the
Company does not need to make multiple applications for admission
of ordinary shares to trading on each separate occasion when the
existing warrants are exercised by holders. There are no changes to
the terms and conditions of the warrants.
Following the Block Admission, the Company's issued share
capital will remain unchanged at 525,092,031 ordinary shares. The
Company will make six-monthly announcements of the utilisation of
the Block Admission, in line with its obligations under AIM Rule
29.
When issued, the New Ordinary Shares will be credited as fully
paid and will rank pari passu in all respects with the existing
ordinary shares of GBP0.01 each in the capital of the Company.
For further information please contact:
Egdon Resources plc
Mark Abbott, Martin Durham 01256 702 292
Buchanan
Ben Romney, Jon Krinks 020 7466 5000
Nominated Adviser & Joint Broker - WH Ireland Limited
Chris Hardie, Megan Liddell 020 7220 1666
Joint Broker & Financial Advisors - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
About Egdon:
Egdon Resources plc (LSE: EDR) is an established UK-based energy
company focused on onshore exploration and production in the
UK.
Egdon holds interests in 37 licences in the UK and has an active
programme of exploration, appraisal and development within its
portfolio of oil and gas assets. Egdon is an approved operator in
the UK. Egdon was formed in 1997 and listed on AIM in December
2004.
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
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