Petro Matad Limited Issue of Equity (6220P)
01 September 2017 - 11:29PM
UK Regulatory
TIDMMATD
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 km(2) 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
+97 670 141 099 / +97
Ridvan Karpuz, CEO 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
END
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