REG - Predator O&G Hldgs - Issue of Shares to Executive Directors

Predator Oil & Gas HoldingsAnnouncement

01/12/2023 13:45

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RNS Number : 4410V  Predator Oil & Gas Holdings PLC  01 December 2023

FOR IMMEDIATE RELEASE

1 December 2023

 

               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")

 

             Issue of Shares to Executive Directors

 

 

Predator, the Jersey-based Oil and Gas Company with operations in Trinidad,
Morocco and Ireland, advises of the issuance of the following new Ordinary
Shares:

 

Issuance Shares to Executive directors

 

In recognition of the work undertaken to bring forth the Company's drilling
programme in Morocco and successful drilling results, the Company's
Remuneration Committee have resolved to make the following award of new
Ordinary Shares under the Executive Directors bonus scheme:

 

To:  Paul Griffiths (Executive Chairman):

 Award of 1,329,787 Shares

 

To:  Lonny Baumgardner

 Award of 1,329,787 Shares

 

The award comprises 50% of the Executive Directors overall bonus related to
the drilling programme in Morocco and represents an award of £125,000 to each
of Paul Griffiths and Lonny Baumgardner at the closing mid-market share price
of 30 November 2023.  The remaining 50% remains payable and the Executive
Directors have the option of receiving the remaining amount by way of
additional shares or cash at their discretion.

 

These shares rank pari passu with the existing ordinary shares of the Company.
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 7 December 2023.

 

The Company advises that, following this Admission, the Company's issued share
capital will be  565,161,662  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 565,161,662.

 

The above figure of 565,161,662  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.

 

 

For further information visit www.predatoroilandgas.com (about:blank)

 

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 (about:blank) :

 

Enquiries:

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

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

 Lonny Baumgardner    Managing Director

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

 David Coffman / Jon Belliss

 Fox-Davies Capital                                                Tel   +44 (0)203 884 7447

 Jerry Keen                                                         jerry@fox-davies.com (about:blank)

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

 Tim Thompson                                                       predator@flagstaffcomms.com (about:blank)

 Mark Edwards

 Fergus Mellon

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary gas less than 10 kilometres from the Maghreb gas
pipeline.  The MOU-1 well drilled in 2021 and the MOU-3 well drilled in 2023
have been completed for rigless testing in 2024. Focus is on supplying
compressed natural gas to the Moroccan industrial market. Further drilling
activity is being progressed to evaluate Jurassic prospects.

 

Predator is seeking to apply CO2 EOR techniques onshore Trinidad which have
the advantage of  sequestrating anthropogenic carbon dioxide. Acquisition
opportunities are also being progressed which are compatible with this
strategy.

 

Predator 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 successfully executing operations in the oil and gas sector.

 

 

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