REG - Predator O&G Hldgs - Exercise of Share Options

Predator Oil & Gas HoldingsAnnouncement

26/09/2022 07:15

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RNS Number : 5911A  Predator Oil & Gas Holdings PLC  26 September 2022

 

FOR IMMEDIATE RELEASE

26 September 2022

 

               Predator Oil & Gas Holdings Plc / Index: LSE
/ Epic: PRD / Sector: Oil & Gas

 
LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

 

 Exercise of Share Options

 

Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas
Company with near-term gas operations focussed on Morocco, announces that it
has received an exercise notice from Dr. Stephen Staley, a former director, in
respect of share options issued to him pursuant to the Company's unapproved
share option scheme.:

dated 18 May 2018 (at the date of the Company's admission to the Official List
(standard listing segment) of the London Stock Exchange's main market for
listed securities) to subscribe for 1,001,370 new shares of no par value each
in the Company ("New Ordinary Shares") at 2.8p per share.

The Company has therefore allotted and issued the total of 1,001,370 New
Ordinary Shares following receipt of the aggregate £28,038.36 subscription
price from Dr. Stephen Staley. Application will be made to the Financial
Conduct Authority ("FCA") for the New Ordinary Shares to be admitted to
listing on the Official List (standard listing segment) of the FCA and to the
London Stock Exchange for the New Ordinary Shares to be admitted to trading on
the London Stock Exchange's main market for listed securities (together
"Admission").  It is expected that Admission will become effective at 8.00
a.m. on 29 September 2022.

The Company advises that, following this Admission, the Company's issued share
capital will be 354,596,847 shares of no par value, each with one vote per
share (and no such shares are held in treasury). The total number of voting
rights is therefore 354,596,847.

The above figure of 354,596,847 may be used by shareholders as the denominator
for the calculations to determine if they have a notifiable interest in the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules, or if such interest has changed.

Directors' Holdings

The  positions held by the Directors are as follows:

 

 DIRECTOR        TOTAL SHARES      OPTIONS       OPTIONS             OPTIONS               OPTIONS

                                   18 May 2018   27 October 2020     31 January 2022       5 July 2022
 Paul Griffiths  30,085,793*       4,005,486     3,850,000           Nil                   Nil
 Lonny                555,600      Nil           Nil                 7,855,486             Nil

 Baumgardner
 Alistar Jury    Nil               Nil           Nil                 Nil                   2,000,000
 Tom Evans       Nil               Nil           Nil                 Nil                   2,000,000

 

Details of the 2018 and 2020 option awards may be found in the Company's
annual report.

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being
the closing mid-market price on 4 July 2022, and will vest after 6 months.

 

Total Options and Warrants on issue

Following the exercise of the share options by Dr. Stephen Staley, the total
options and warrants outstanding in the Company are as follows:

 

                     OPTIONS         OPTIONS             WARRANTS(³)         OPTIONS               OPTIONS

                     18 May 2018¹    27 October 2020²                    31 January 2022(4)        5 July 2022⁵
 Directors           4,005,486       7,150,000           Nil             8,855,486                 4,000,000
 Previous directors  1,001,370       3,300,000           Nil             1,000,000
 Advisers            Nil             Nil                 5,974,468       Nil

 and others

 

1)  18/5/18 options are exercisable at 2.8 pence per share

(2)  27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers
at

an exercise price of 2.8 pence per share (160,718 on 24 May 2018),    12
pence per share (2,000,000 on 15 February 2019), 4 pence per  share
(2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March
2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share
(690,000 on 28 March 2022) and 5.5 pence per share (3,600,000 on 23 August
2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be
found in the Company's 2021 Annual Report and Financial Statements.

(4) 8,855,486 options are exercisable at 5.66 pence per share.

(5) 4,000,000 options are exercisable at 8.125 pence per share.

 

If all options and warrants were to become exercisable and then exercised in
accordance with their terms, gross proceeds received by the Company would
be £2,051,263.

For further information visit www.predatoroilandgas.com
(http://www.predatoroilandgas.com)

 

Follow the Company on twitter @PredatorOilGas.

 

This announcement contains inside information for the purposes of Article 7 of
the Regulation (EU) No 596/2014 on market abuse

 

For more information please visit the Company's website
at www.predatoroilandgas.com (http://www.predatoroilandgas.com/) :

 

Enquiries:

 Predator Oil & Gas Holdings Plc                                 Tel: +44 (0) 1534 834 600

 Paul Griffiths               Executive Chairman                 Info@predatoroilandgas.com (mailto:Info@predatoroilandgas.com)

 Lonny Baumgardner   Managing Director

 Novum Securities Limited                                        Tel: +44 (0) 207 399 9425

 Jon Belliss

 Optiva Securities Limited                                       Tel: +44 (0) 203 137 1902

 Christian Dennis

 Flagstaff Strategic and Investor Communications                 Tel: +44 (0) 207 129 1474

 Tim Thompson                                                    predator@flagstaffcomms.com (mailto:predator@flagstaffcomms.com)

 Mark Edwards

 Fergus Mellon

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary gas in prospects less than 10 kilometres from the
Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up
testing programme is being finalised to coordinate with a further drilling
programme beginning in 2022.

 

Predator is seeking to further develop the remaining oil reserves of
Trinidad's mature onshore oil fields through the application of CO2 EOR
techniques and by sequestrating anthropogenic carbon dioxide to produce
"greener" oil.

 

In addition, Predator also owns and operates exploration and appraisal assets
in licensing options offshore Ireland, for which successor authorisations have
been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on
the Atlantic Margin and east of the decommissioned Kinsale gas field in the
Celtic Sea.

 

Predator has developed a Floating Storage and Regasification Project ("FSRUP")
for the import of LNG and its regassification for Ireland and is also
developing gas storage concepts to address security of gas supply and
volatility in gas prices during times of peak gas demand.

 

The Company has a highly experienced management team with a proven track
record in operations in the oil and gas industry.

 

 

 

 

 

 

 

 

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