Business
Issue of Equity and Exercise
Issue of Equity and Exercise.
About this update from Petro Matad Limited
[{"type":"text","content":"\n RNS Number : 2587U Petro Matad Limited 12 October 2010 \n \n\n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\nIssue of Equity to EBRD, Exercise of Options and Relinquishment of Part of Block XX\nFollowing the Company's announcement of 24 September 2010, Petro Matad announces that it has today issued 3,367,003 new ordinary shares of US$0.01 each in the Company (the \"EBRD Shares\") at a price of 135 pence per share to the European Bank for Reconstruction and Development (the \"EBRD\").\n \nPetro Matad also announces that it has today issued 490,500 new ordinary shares of US$0.01 each in the Company as a result of the exercise of options by certain directors and employees pursuant to the Company's Long Term Equity Incentive Plan (the \"Option Shares\"). \n \nDetails of the options exercised by the Directors are as follows:\n \n\n\n\n\nDirector\n\n\nAmount\n\n\nExercise Price\n\n\n\n\nOyungerel Janchiv\n\n\n62,500\n\n\nUS$0.75\n\n\n\n\nOyungerel Janchiv\n\n\n62,500\n\n\n£0.11\n\n\n\n\nDouglas McGay\n\n\n87,500\n\n\nUS$0.75\n\n\n\n\nDouglas McGay\n\n\n87,500\n\n\n£0.11\n\n\n\n\nSarangua Davaadorj\n\n\n37,500\n\n\nUS$0.75\n\n\n\n\nSarangua Davaadorj\n\n\n37,500\n\n\n£0.11\n\n\n\n\n \n \nApplication has been made for the EBRD Shares and the Option Shares to be admitted to AIM. It is expected that trading will commence in the EBRD Shares and the Option Shares at 8.00 a.m. on or around 15 October 2010. \n \nThe EBRD Shares and the Option Shares will, following allotment, rank pari passu in all respects with the existing issued ordinary shares.\n \nShares in issue\n \nFollowing the issue of the EBRD Shares and the Option Shares, the Company will have 183,042,827 ordinary shares in issue. \n \nChanges to notifiable holdings following the issue of the EBRD Shares and the Option Shares\n \nThe following changes have occurred to notifiable holdings as a result of the issue of the EBRD Shares and the Option Shares: \n \n\n\n\n\n\n\n\n\n\n\n\nPrevious Shareholding\n\n\nNew Shareholding\n\n\nPercentage of Petro Matad's Issued Share Capital\n\n\n\n\nEBRD\n\n\n28,374,107\n\n\n31,741,110\n\n\n17.34%\n\n\n\n\nOyungerel Janchiv\n\n\n6,335,000\n\n\n6,460,000\n\n\n3.53%\n\n\n\n\nDouglas McGay\n\n\n3,800,000\n\n\n3,975,000\n\n\n2.17%\n\n\n\n\nSarangua Davaador...