REG - Lansdowne Oil & Gas - Convertible Loan Agreement

Lansdowne Oil & GasAnnouncement

01/08/2025 07:00

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RNS Number : 5165T  Lansdowne Oil & Gas plc  01 August 2025

 

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. If you have any queries on this, then
please contact Steve Boldy, the Chief Executive Officer of the Company
(responsible for arranging release of this announcement).

 

 

1 August 2025

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

 

Convertible Loan Agreement

 

Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") is pleased to
confirm that the Company has entered into further Convertible Loan Agreements
for GBP 100,000 (the "Loan"), arranged by Tavira Financial Limited, the
Company's joint broker, with a number of existing and new shareholders.

Of the GBP 95,000 announced on 20 September 2024, GBP 10,000 remains
outstanding and while the directors are assured that this amount will be
received in due course, the aggregate CLNs outstanding are now £230,000.

Lansdowne intends to use the funds to provide working capital whilst
discussions continue with potential funders for Lansdowne's Energy Charter
Treaty claim against Ireland and work progresses towards a potential reverse
takeover, which is targeted to complete in the third quarter of 2025. The
Company is also nearing completion of its accounts for the full year to 31
December 2024 and these will be announced imminently.

Trading in the Company's shares on AIM will remain suspended until the
completion of a reverse takeover, which requires the publication of an
admission document and the approval of such a transaction at the Annual
General Meeting of the Company, or the Company is readmitted to trading on AIM
as an investing company.

Loan terms

The Loan terms are the same as those previously entered into and announced on
20 September 2024 and 10 February 2025. The Loans are unsecured, carry no
interest and shall be converted into new ordinary shares of 0.01 pence each in
the Company ("New Ordinary Shares") at the time of completing a reverse
takeover and subject to shareholder approval for the extension of share
issuance authorities. The conversion price will be the lower of 0.1 pence
(being the share price at the time of suspension on 21 March 2024), or a 20%
discount price to the issue price at the time of any issuance of shares
alongside a future reverse takeover.

 

For further information please contact:

 

 Lansdowne Oil & Gas plc
 Steve Boldy

 SP Angel Corporate Finance LLP  +44 (0) 20 3470 0470
 Nominated Adviser and Broker
 Stuart Gledhill
 Charlie Bouverat

 Tavira Financial Limited        +44 (0) 20 3192 1739
 Joint Broker
 Oliver Stansfield

 

 

Notes to editors:

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is an oil and gas exploration and appraisal
company focused on the North Celtic Sea and quoted on the AIM market and head
quartered in Dublin.

In May 2023 the application for a Lease Undertaking for the Barryroe Field, in
which Lansdowne held a 20% interest, was refused by the Irish Department of
the Environment, Climate and Communications.

In June 2023 Lansdowne announced the commencement of action under the
Arbitration Process of the Energy Charter Treaty.

On 20 September 2023, Lansdowne announced that, under AIM Rule 15, the Company
had been designated to be a cash shell.  Accordingly, the shares of the
Company were suspended from trading on AIM as at 07.30 am on 21 March 2024
("Suspension").

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com
(http://www.lansdowneoilandgas.com)

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