REG - Petro Matad Ltd - Result of Retail Offer

Petro MatadAnnouncement

08/02/2023 07:00

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RNS Number : 2840P  Petro Matad Limited  08 February 2023

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OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA,
CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER
JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE
A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF EU
REGULATION 596/2014 WHICH FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION OF
THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE WITHIN THE
PUBLIC DOMAIN.

For immediate release

 

8 February 2023

Petro Matad Limited

("Petro Matad" or the "Company")

Result of Retail Offer

 

 

 

Further to the announcement dated 2 February 2023, Petro Matad (AIM: MATD),
the AIM quoted Mongolian oil company, is pleased to announce that, following
the closing of the Retail Offer on the BookBuild Platform on 7 February 2023,
20,000,000 Ordinary Shares will be issued at a price of 2.5 pence per Retail
Offer Share in connection with the Retail Offer, which was significantly
oversubscribed.

Capitalised terms used in this announcement have the meaning given to them in
the launch announcement, unless otherwise defined in this announcement.

Allocation was made to existing Shareholders applying the principles of soft
pre-emption. Shareholders were allocated 100% of their soft pre-emptive
allowance. Where the order was greater than the soft pre-emptive allowance
shareholders received c.67% of their additional demand.

Consequently, 161,788,620 Placing Shares, 33,333,332 Subscription Shares, and
20,000,000 Retail Offer Shares, resulting in a total of 215,121,952 new
Ordinary Shares will be issued in relation to the Placing, Subscription and
Retail Offer, raising total gross proceeds of $6.6 million. (1)

 

Application will be made for the Placing Shares, Subscription Shares, and
Retail Offer Shares to be admitted to trading on AIM ("Admission"). Admission
is expected to take place at 8.00 a.m. on 10 February 2023.

 

Following the Admission, the total number of Ordinary Shares in the capital of
the Company in issue will be 1,113,883,601 with each Ordinary Share carrying
the right to one vote. There are no Ordinary Shares held in treasury and
therefore the total number of voting rights in the company is expected to be
1,113,883,601. The above figure 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, the
share capital of the Company under the FCA's Disclosure, Guidance and
Transparency Rules.

 

 

Enquiries:

 Petro Matad Limited                                                   +44 162 462 7099

 Mike Buck, Chief Executive Officer

 Shore Capital Stockbrokers Limited (NOMAD, Broker, Joint Bookrunner)  +44 207 408 4050

 Toby Gibbs / John More/ Rachel Goldstein
 Zeus Capital Limited (Joint Bookrunner)                               +44 207 614 5900

 Simon Johnson / Louisa Waddell
 FTI Consulting (Financial PR)                                         +44 203 727 1000

 Ben Brewerton / Christopher Laing                                     petromatad@fticonsulting.com (mailto:petromatad@fticonsulting.com)

Bookbuild

Paul Brotherhood/ Marc Downes

support@bookbuild.live (mailto:support@bookbuild.live)

 

 

 

(1)  Soft Pre-emptive allowance Calculation: Existing shares X 23.935%
(Dilution from total new shares being issued) = Soft Pre-emptive allowance
allocation shares

Additional Demand: (Total Order shares - Soft Pre-emptive allowance allocation
shares) x c.67% = Additional demand allocation shares

 

 

Important Notices

The content of this announcement has been prepared by, and is the sole
responsibility of, the Company.

This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into or from the United States (including its territories and possessions,
any state of the United States and the District of Columbia (the "United
States" or "US")), Australia, Canada, Japan, the Republic of South Africa,
any member state of the EEA or any other jurisdiction where to do so might
constitute a violation of the relevant laws or regulations of such
jurisdiction.

The Retail Offer Shares have not been and will not be registered under the US
Securities Act of 1933, as amended (the "US Securities Act") or under the
applicable state securities laws of the United States and may not be offered
or sold directly or indirectly in or into the United States or to or for the
account or benefit of any US person (within the meaning of Regulation S under
the US Securities Act) (a "US Person"). No public offering of the Retail
Offer Shares is being made in the United States. The Retail Offer Shares are
being offered and sold outside the United States in "offshore transactions",
as defined in, and in compliance with, Regulation S under the US Securities
Act. In addition, the Company has not been, and will not be, registered under
the US Investment Company Act of 1940, as amended.

This announcement does not constitute an offer to sell or issue or a
solicitation of an offer to buy or subscribe for Retail Offer Shares in the
United States, Australia, Canada, New Zealand, Japan, the Republic of South
Africa, any member state of the EEA or any other jurisdiction in which such
offer or solicitation is or may be unlawful. No public offer of the securities
referred to herein is being made in any such jurisdiction.

The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

Shore Capital is authorised and regulated in the United Kingdom by the FCA and
Zeus is regulated in the United Kingdom by the FCA. Each of Shore Capital and
Zeus is acting exclusively for the company and no one else in connection with
the placing, and Shore Capital and Zeus will each not be responsible to anyone
other than the Company for providing the protections afforded to its clients,
nor for providing advice in connection with the Retail Offer, Admission and
the other arrangements referred to in this announcement.

The value of Ordinary Shares and the income from them is not guaranteed and
can fall as well as rise due to stock market and currency movements. When you
sell your investment, you may get back less than you originally invested.
Figures refer to past performance and past performance is not a reliable
indicator of future results. Returns may increase or decrease as a result of
currency fluctuations.

Certain statements in this announcement are forward-looking statements which
are based on the Company's expectations, intentions and projections regarding
its future performance, anticipated events or trends and other matters that
are not historical facts. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "intend", "estimate", "expect"
and words of similar meaning, include all matters that are not historical
facts. These forward-looking statements involve risks, assumptions and
uncertainties that could cause the actual results of operations, financial
condition, liquidity and dividend policy and the development of the industries
in which the Company's businesses operate to differ materially from the
impression created by the forward-looking statements. These statements are not
guarantees of future performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements.
Given those risks and uncertainties, prospective investors are cautioned not
to place undue reliance on forward looking statements.

These forward-looking statements speak only as at the date of this
announcement and cannot be relied upon as a guide to future performance. The
Company, Shore Capital and Zeus expressly disclaim any obligation or
undertaking to update or revise any forward-looking statements contained
herein to reflect actual results or any change in the assumptions, conditions
or circumstances on which any such statements are based unless required to do
so by the FCA, the London Stock Exchange or applicable law.

The information in this announcement is for background purposes only and does
not purport to be full or complete. None of Shore Capital or Zeus, or any of
their affiliates, accepts any responsibility or liability whatsoever for, or
makes any representation or warranty, express or implied, as to this
announcement, including the truth, accuracy or completeness of the information
in this announcement (or whether any information has been omitted from the
announcement) or any other information relating to the Company or associated
companies, whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever arising from
any use of the announcement or its contents or otherwise arising in connection
therewith. Shore Capital, Zeus and their affiliates accordingly disclaim all
and any liability whether arising in tort, contract or otherwise which they
might otherwise be found to have in respect of this announcement or its
contents or otherwise arising in connection therewith.

 

Any indication in this announcement of the price at which the Ordinary Shares
have been bought or sold in the past cannot be relied upon as a guide to
future performance. Persons needing advice should consult an independent
financial adviser. No statement in this announcement is intended to be a
profit forecast and no statement in this announcement should be interpreted to
mean that earnings or target dividend per share of the Company for the current
or future financial years would necessarily match or exceed the historical
published earnings or dividends per share of the Company.

Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this announcement.
The Retail Offer Shares to be issued or sold pursuant to the Retail Offer will
not be admitted to trading on any stock exchange other than the London Stock
Exchange.

 

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