Exercise of Warrants (0061D)
16 March 2011 - 3:33AM
UK Regulatory
TIDMPELE
RNS Number : 0061D
Petrolatina Energy PLC
15 March 2011
15 March 2011
PetroLatina Energy Plc
("PetroLatina" or the "Company")
Exercise of Warrants
PetroLatina (AIM: PELE), the independent oil and gas
exploration, development and production company focused on Latin
America, today announces the exercise of warrants into, in
aggregate, 204,491 new ordinary shares of US$0.10 each ("New
Ordinary Shares") in the Company.
Of the abovementioned 204,491 New Ordinary Shares, 71,572 New
Ordinary Shares were issued as a result of the automatic exercise
of warrants by Tribeca Oil & Gas, Inc. ("TOGI") (an existing
substantial shareholder, and a portfolio investment company of
Tribeca Asset Management Inc. (formerly Tribecapital Partners
S.A.)).
The New Ordinary Shares will rank pari passu in all respects
with the Company's existing ordinary shares of US$0.10 each
("Ordinary Shares") and application will be made to the London
Stock Exchange for these, in aggregate, 204,491 New Ordinary Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on Monday 21 March 2011.
The Company's issued ordinary share capital will consist of
105,074,911 Ordinary Shares with voting rights. PetroLatina does
not hold any Ordinary Shares in treasury and accordingly there are
no voting rights in respect of any treasury shares.
The above figure of 105,074,911 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 to their interest in, PetroLatina under
the FSA's Disclosure and Transparency Rules.
Following the exercise of the abovementioned warrants and
issuance of the New Ordinary Shares, TOGI and its related companies
now hold, in aggregate, 59,573,507 Ordinary Shares, representing
approximately 56.70 per cent. of the Company's enlarged issued
share capital and warrants over a further 312,308 Ordinary Shares
which are automatically exercisable if, and to the extent that, any
exercise of the Company's other existing outstanding 580,000
warrants occurs. In addition, Tribeca Oil & Gas Financing Inc.,
a subsidiary of TOGI, currently holds an aggregate principal amount
of US$6.29 million of convertible 12 per. cent loan notes due in
June 2011.
Enquiries:
PetroLatina Energy Plc Tel: +57 1627 8435
Juan Carlos Rodriguez, Chief Executive Officer
Pawan Sharma, Executive Vice President - Corporate Tel: +44 (0)20 7766
Affairs 0081
Strand Hanson Limited
Simon Raggett/Matthew Chandler Tel: +44 (0)20 7409
3494
Evolution Securities Limited
Rob Collins/Chris Sim Tel: +44 (0)20 7071
4304
Financial Dynamics
Ben Brewerton/Susan Quigley Tel: +44 (0)20 7831
3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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