Star Phoenix Group Ltd Issue of shares to management (7615N)
03 February 2021 - 2:20AM
UK Regulatory
TIDMSTA
RNS Number : 7615N
Star Phoenix Group Ltd
02 February 2021
Star Phoenix Group Ltd
("Star Phoenix" or "the Company")
2 February 2021
ISSUE OF SHARES TO MANAGEMENT
Star Phoenix (AIM: STA), an international company with an
oilfield services business in Trinidad and an oil and gas interest
in Indonesia, confirms that further to its announcement on 2
November 2020, it has today issued an additional 420,040 ordinary
shares of the Company to management in lieu of the accrued salaries
in order to preserve cash resources of the Company during the
current economic environment created by the impact of COVID-19
pandemic. This is the last tranche of shares being issued under
agreement with directors and managers announced on 2 November
2020.
Application will be made for the admission to trading on AIM
("Admission") for the 420,040 shares. The shares will rank pari
passu in all respects with the existing ordinary shares of the
Company. Admission is expected at 8.00 a.m. on or around 8 February
2021.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 150,876,970 ordinary shares with one voting right each. As
the Company does not hold any shares in treasury, the total number
of voting rights in the Company is also 150,876,970 and this figure
of ordinary shares may be used by shareholders 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 FCA's Disclosure
Guidance and Transparency Rules.
Contact Details
WH Ireland Limited (Nominated Adviser
Star Phoenix Group Ltd and Broker)
Evgenia Bezruchko (Group Corporate James Joyce / Matthew Chan
Development Manager & Joint Company t. +44 (0)20 7220 1666
Secretary)
e. admin@starphoenixgroup.com
t. +44 (0)20 3865 8430
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
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END
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