REG - Predator O&G Hldgs - Exercise of Warrants

Predator Oil & Gas HoldingsAnnouncement

12/07/2022 07:00

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RNS Number : 0875S  Predator Oil & Gas Holdings PLC  12 July 2022

 

FOR IMMEDIATE RELEASE

12 July 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 Warrants

 

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas
Company with operations in Trinidad, Morocco and Ireland announces that it has
received an exercise notice from Novum Securities Limited ("Novum") in respect
of warrants issued to it pursuant to warrant agreements with the Company:

dated 24 May 2018 (in connection with the Placing carried out by the Company
in May 2018 on admission of the Company to the Official List (standard listing
segment) of the London Stock Exchange's main market for listed securities) to
subscribe for 1,892,960 new shares of no par value each in the Company ("New
Ordinary Shares") at 2.8p per share, and

dated 17 February 2020 (in connection with the Placing carried out by the
Company in February 2020) to subscribe for 2,256,250 new shares of no par
value each in the Company ("New Ordinary Shares") at 4p per share.

The Company has therefore allotted and issued the total of 4,149,210 New
Ordinary Shares following receipt of the aggregate £143,252.88 subscription
price from Novum. 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").

The Company advises that, following this Admission, the Company's issued share
capital will be 308,595,477  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 308,595,477.

The above figure of 308,595,477 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  46,871,508       4,005,486     3,850,000           Nil                   Nil
 Stephen Staley       669,600     1,001,370     1,650,000           Nil                   Nil
 Louis Castro    Nil              Nil           1,650,000           1,000,000             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 warrants by Novum, 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          5,006,856       7,150,000           Nil             8,855,486                 4,000,000
 Previous director  1,001,370       Nil                 Nil             Nil
 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) and 9 pence per share
(690,000 on 28 March 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 £1,881,301.

 

 

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

 Peterhouse Capital Limited                               Tel: +44 (0) 207 220 9791

 Charles Goodfellow

 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 developed and a further drilling programme is under
review.

 

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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