REG - Mosman Oil & Gas - Notice of AGM and posting of Annual Report

Mosman Oil and GasAnnouncement

05/11/2024 10:15

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RNS Number : 0046L  Mosman Oil and Gas Limited  05 November 2024

5 November 2024

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Notice of AGM and posting of Annual Report

 

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, confirms its AGM
will be held at 12:00pm (AEDT) on 29 November 2024 at 24-26 Kent Street,
Millers Point NSW 2000, Australia.

 

Mosman's Annual Report and Notice of Annual General Meeting (AGM) has been
sent to shareholders and can be viewed and downloaded
at www.mosmanoilandgas.com/investor-centre
(http://www.mosmanoilandgas.com/investor-centre) .

 

Ratification of Director Placement Participation

 

As well as the normal business conducted at the AGM, resolutions have been
proposed to approve the director participation in the placing announced on 16
September 2024 ("Placing").

 

The Company previously indicated that two Directors (Messrs Carroll and
Harvey) intended to support the Placing on the same terms as the Placing
participants which would increase the size of the Placing by £15,000 to
£1.5m if approved by shareholders (the "Directors Subscription").

 

Shareholder approval is required for Director participation in any capital
raising in order for the Company to comply with its statutory obligations
under the Corporations Act 2001 (Cth) in Australia.

 

Two resolutions are being put forward in the AGM in connection with this
participation being:

 

Resolution 2 and 3 - Participation of Executive Director and CEO Andy Carroll
and Non-Executive Chairman Mr Nigel Harvey to each subscribe for up to £7,500
(AU$14,700) alongside the Placing (up to 21,428,572 shares each).

 

Related Party Transaction

 

As Andy Carroll and Nigel Harvey are Directors of the Company, they are
considered to be Related Parties of the Company as defined under the AIM Rules
for Companies (the "AIM Rules") and the proposed Director Subscriptions set
out above, are considered to be Related Party Transactions pursuant to Rule 13
of the AIM Rules.

 

Carl Dumbrell, being the Director independent from the Director Subscriptions,
considers, having consulted with the Company's Nominated Adviser, SP Angel
Corporate Finance LLP, that the proposed terms of the Director Subscriptions
are fair and reasonable insofar as the Company's Shareholders are concerned.

 

Proposed Share option award

 

In addition to the above matter the Board is proposing a new award of share
options to the Company's CEO, Andy Carroll with full details being set out in
the notice of AGM and accompanying explanatory memorandum.

 

 

Enquiries:

 Mosman Oil & Gas Limited                                             NOMAD and Joint Broker

 Andy Carroll                                                         SP Angel Corporate Finance LLP

 CEO                                                                  Stuart Gledhill / Richard Hail / Adam Cowl

 acarroll@mosmanoilandgas.com (mailto:acarroll@mosmanoilandgas.com)   +44 (0) 20 3470 0470

 Alma                                                                 Joint Broker

 Justine James / Will Merison                                         CMC Markets UK Plc

 +44 (0) 20 3405 0205                                                 Douglas Crippen

 mosman@almastrategic.com (mailto:mosman@almapr.co.uk)                +44 (0) 020 3003 8632

 

Updates on the Company's activities are regularly posted on its
website: www.mosmanoilandgas.com (http://www.mosmanoilandgas.com/)

 

Notes to editors

Mosman (AIM: MSMN) is a helium, hydrogen and hydrocarbon exploration,
development, and production company with projects in the US and Australia.
Mosman's strategic objectives remain consistent: to identify opportunities
which will provide operating cash flow and have development upside, in
conjunction with progressing exploration. The Company has several projects in
the US, in addition to exploration projects in the Amadeus Basin in Central
Australia.

 

 

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