TIDMMSMN
RNS Number : 0460D
Mosman Oil and Gas Limited
14 February 2020
14 February 2020
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Director Subscription
Further to the Placing announced earlier today, Mosman Oil and
Gas Limited (AIM: MSMN) the oil exploration, development and
production company, announces that the Company's Executive
Chairman, John Barr, and Technical Director, Andy Carroll, have
agreed to subscribe for a further aggregate 41,666,666 shares at a
price of 0.15p per share ("Director Subscription Shares") in lieu
of director and consultancy fees due or owed for the year to 30
June 2020 of AUD120,000 (the "Director Subscription").
Following the Director Subscription and the Fundraising
announced earlier today, their shareholdings will be as
follows:
Director No. of Ordinary No. of New Shares No. of Ordinary % interest in Ordinary
Shares held as subscribed for Shares held immediately shares immediately
at date of this in the Director following admission following admission
announcement Subscription
John Barr 30,100,001 20,833,333 50,933,334 4.52%
----------------- ------------------ ------------------------- -----------------------
Andy Carroll 21,876,500 20,833,333 42,709,833 3.79%
----------------- ------------------ ------------------------- -----------------------
They will each also receive 1 warrant for each Director
Subscription Share on the same basis as those taking part in the
Fundraising, each warrant conveying the right to subscribe for a
further new ordinary share at an exercise price of 0.23p with a
term of 12 months.
Director No. of options No. of options over No. of options over
over Ordinary Shares Ordinary Shares subscribed Ordinary Shares held
held prior to the for in the Director immediately following
announcement Subscription the Director Subscription
John Barr 13,000,000(*) 20,833,333(**) 33,833,333
--------------------- --------------------------- --------------------------
Andy Carroll 13,000,000(*) 20,833,333(**) 33,833,333
--------------------- --------------------------- --------------------------
*Exercisable at various prices
** Exercisable at a price of 0.23p per share
Related Party Transaction
John Barr and Andy Carroll, as directors of the Company, are
considered to be "related parties" as defined under the AIM Rules
and accordingly, their participation in the Director Subscription
constitutes a related party transaction for the purposes of Rule 13
of the AIM Rules.
The Director independent of the Director Subscription, being
John Youngs (Non-Executive Director), considers, having consulted
with the Company's nominated adviser, that the terms of the
Director Subscription are fair and reasonable insofar as the
Company's shareholders are concerned.
Admission to AIM and Total Voting Rights
Further to the announcement this morning, application has now
been made for the Placing Shares and the Director Subscription
Shares (together the "New Shares"), which will rank pari passu with
the existing Ordinary Shares, to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective
and dealings will commence on or around 27 February 2020.
Following Admission, the issued share capital of the Company
will consist of 1,127,477,634 Ordinary Shares. No shares were held
in treasury at the date of this announcement. The total current
voting rights in the Company are therefore 1,127,477,634.
Consequently, the above figure 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 to their interest in, the share capital
of the Company under the Company's Constitution.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com / Soltan Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR
Justine James
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website www.mosmanoilandgas.com
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. John Barr
2. Andy Carroll
--------------------------------- ------------------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------
a) Position/status: 1. Chairman
2. Technical Director
--------------------------------- ------------------------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ------------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------
a) Name: Mosman Oil and Gas Limited
--------------------------------- ------------------------------------------------------------
b) LEI: 213800PWZID9URNNGZ54
--------------------------------- ------------------------------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------------------------------
a) Description of the financial Ordinary shares of no par
instrument, type of instrument: value and options over ordinary
Identification code: shares
AU0000XINET1
--------------------------------- ------------------------------------------------------------
b) Nature of the transaction: Purchase of new ordinary shares
--------------------------------- ------------------------------------------------------------
c) Price(s) and volume(s): New ordinary shares Price(s) Volume(s)
1. 0.15p 20,833,333
2. 0.15p 20,833,333
Warrants over ordinary shares Price(s) Volume(s)
1. 0.23p 20,833,333
2. 0.23p 20,833,333
--------------------------------- ------------------------------------------------------------
d) Aggregated information: New Ordinary Shares Price(s) Volume(s)
Aggregated volume: 0.15p 41,666,666
Price: -----------
Warrants over ordinary shares Price(s) Volume(s)
1. 0.23p 41,666,666
--------------------------------- ------------------------------------------------------------
e) Date of the transaction: 12 February 2020
--------------------------------- ------------------------------------------------------------
f) Place of the transaction: Outside of trading venue
--------------------------------- ------------------------------------------------------------
**ENDS**
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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