REG - Petro Matad Ltd - Conditional Share Awards and Total Voting Rights

Petro MatadAnnouncement

15/12/2021 07:00

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RNS Number : 6681V  Petro Matad Limited  15 December 2021

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY PETRO MATAD
LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF
THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UNITED
KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
("UK MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.

 

15 December 2021

Petro Matad Limited

('Petro Matad' or the 'Company')

Exercise of Conditional Share Awards and Total Voting Rights

Exercise of LTIP Conditional Share Awards

Petro Matad announces the issue of 259,150 new ordinary shares of US$0.01 each
in the Company ("Shares") pursuant to the exercise of performance based
Conditional Share Awards by certain Director and employees on 15 December 2021
under the Company's Long-Term Equity Incentive Plan ("LTIP") at $0.01 per
share. The performance based Conditional Share Awards were awarded to
Directors and employees following the Company's listing on AIM in 2008 and the
last of which were issued in 2013 based on the following performance criteria:

·    25% of the shares under the Award shall vest on the first discovery
of oil on a commercial scale;

·    25% of the shares under the Award shall vest on the first production
of oil on a commercial scale; and

·    50% of the shares under the Award shall vest on the Company selling 1
million barrels of oil.

Based on the Heron 1 discovery and the award of the Block XX Exploitation
Licence, the Board has viewed that these events satisfy the first condition.
All Directors and employees awarded the Conditional Share Awards during the
period 2008 to 2013 and still employed with the Company are eligible to
elected to exercise the Conditional Share Awards.

Details of awards relating to Directors/Persons Discharging Managerial
Responsibilities are set out below:

 

 Director/PDMR      Conditional Share Awards exercised  Resultant shareholding  Percentage holding of enlarged issued share capital
 Enkhmaa Davaanyam  37,500                              6,424,675               0.71
 Tamir Battogtokh   16,750                              180,207                 0.02

 

Application for admission of new Shares

Application has been made for the 259,150 new Shares, which rank pari passu
with the Company's existing issued Shares, to be admitted to trading on AIM
("Admission") and it is expected that Admission will occur on 20 December
2021.

Total Voting Rights

Following Admission, Petro Matad will have 898,761,649 ordinary shares in
issue, which will also represent the total number of voting rights in the
Company. No Share are held in Treasury. This figure should 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

- Ends -

Further information please contact:

 Petro Matad Limited
 Mike Buck, CEO                                                              +976 7014 1099 / +976 7575 1099
 Shore Capital (Nominated Adviser and Joint Broker)
 Toby Gibbs                                                                  +44 (0) 20 7408 4090

 John More
 Arden Partners (Joint Broker)

 Paul Shackleton                                                             +44 (0) 20 7614 5900
 FTI Consulting (Communications Advisory Firm)
 Ben Brewerton                                                               +44 (0) 20 3727 1000

 Christopher Laing

 

 

About Petro Matad

Petro Matad is the parent company of a group focussed on oil exploration, as
well as future development and production in Mongolia. At the current time,
Petro Matad holds 100% working interest and the operatorship of two Production
Sharing Contracts with the Government of Mongolia. Block XX has an area of 218
square kilometres in the far eastern part of the country and Block V has an
area of 7,937 square kilometres in the central western part of the country.

Petro Matad Limited is incorporated in the Isle of Man under company number
1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle
of Man, IM1 1EQ.

 

 

The information below (set out in accordance with the requirements of EU
Market Abuse Regulation) provides further detail:

 

 

   1    Details of the person discharging managerial responsibilities / person closely

      associated

 a)     Names                                                        Enkhmaa Davaanyam

 2      Reason for the notification

 a)     Position/status                                              Director, Chairperson

 b)     Initial notification /Amendment                              Initial Notification

 3      Details of the issuer, emission allowance market participant, auction

      platform, auctioneer or auction monitor

 a)     Name                                                         Petro Matad Limited

 b)     LEI                                                          213800FXLBLLEVK4R858

 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 instrument, type of instrument  Ordinary Shares of US$0.01 par value each

 b)     Identification code                                          ISIN: IM00B292WR19

 c)     Nature of the transaction                                    Exercise of conditional share awards

 d)     Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                                   0,01      37,500

 d)     Aggregated information                                       N/A

        - Aggregated volume

        - Price
 e)     Date of the transaction                                      15 December 2021

 f)     Place of the transaction                                     Outside a trading venue

   1    Details of the person discharging managerial responsibilities / person closely

      associated

 a)     Names                                                        Tamir Battogtokh

 2      Reason for the notification

 a)     Position/status                                              PDMR

 b)     Initial notification /Amendment                              Initial Notification

 3      Details of the issuer, emission allowance market participant, auction

      platform, auctioneer or auction monitor

 a)     Name                                                         Petro Matad Limited

 b)     LEI                                                          213800FXLBLLEVK4R858

 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 instrument, type of instrument  Ordinary Shares of US$0.01 par value each

 b)     Identification code                                          ISIN: IM00B292WR19

 c)     Nature of the transaction                                    Exercise of conditional share awards

 d)     Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                                   0,01      16,750

 d)     Aggregated information                                       N/A

        - Aggregated volume

        - Price
 e)     Date of the transaction                                      15 December 2021

 f)     Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

- Aggregated volume

- Price

N/A

e)

 

Date of the transaction

15 December 2021

f)

 

Place of the transaction

Outside a trading venue

 

 

  1

 

Details of the person discharging managerial responsibilities / person closely
associated

a)

 

Names

Tamir Battogtokh

2

 

Reason for the notification

a)

 

Position/status

 

PDMR

b)

 

Initial notification /Amendment

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

 

Name

Petro Matad Limited

 

b)

 

LEI

213800FXLBLLEVK4R858

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 instrument, type of instrument

 

Ordinary Shares of US$0.01 par value each

 

 

 

 

 

 

 

 

 

b)

Identification code

 

ISIN: IM00B292WR19

c)

 

Nature of the transaction

 

Exercise of conditional share awards

 

d)

 

Price(s) and volume(s)

 Price(s)  Volume(s)
 0,01      16,750

d)

 

Aggregated information

- Aggregated volume

- Price

N/A

e)

 

Date of the transaction

15 December 2021

f)

 

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

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