Exercise of options and total voting rights
20/02/2023 13:06
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RNS Number : 4741Q Baron Oil PLC 20 February 2023
20 February 2023
Baron Oil Plc
("Baron", or the "Company")
Exercise of options and change to total voting rights
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration and appraisal
company, announces that it has received notice for the exercise of options to
subscribe for 62,500,000 new ordinary shares of 0.025p each in the Company
("Ordinary Shares"). These options were originally granted to a previous
Director of the Company and have an exercise price of 0.1p per new Ordinary
Share. The exercise of these options will generate proceeds of £62,500 for
the Company.
Application has been made for the 62,500,000 new Ordinary Shares to be
admitted to trading on AIM ("Admission") and it is expected that Admission
will occur on or around 23 February 2023.
Upon Admission, the Company's issued ordinary share capital will consist of
18,982,760,428 Ordinary Shares with one voting right each. The Company does
not hold any Ordinary Shares in treasury. Therefore, the total number of
Ordinary Shares and voting rights in the Company will be 18,982,760,428. With
effect from Admission, this 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.
Following this exercise of options, Baron's entire Share Option pool, which
includes options granted to its Directors and a subsidiary director, a
previous Director and consultants to the Company, will be equivalent to 6.66%
of the Company's fully diluted ordinary share capital*.
* Number of Ordinary Shares in issue upon Admission will be 18,982,760,428;
fully diluted ordinary share capital, which includes all share options,
represents 20,340,260,428 Ordinary Shares.
For further information, please contact:
Baron Oil Plc +44 (0) 20 7117 2849
Andy Yeo, Chief Executive
Allenby Capital Limited +44 (0) 20 3328 5656
Nominated Adviser and Broker
Alex Brearley, Nick Harriss, George Payne (Corporate Finance)
Kelly Gardiner (Sales and Corporate Broking)
IFC Advisory Limited +44 (0) 20 3934 6630
Financial PR and IR baronoil@investor-focus.co.uk
Tim Metcalfe, Florence Chandler
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