Business
Notification of EBRD Subscrip
Notification of EBRD Subscrip.
About this update from Petro Matad Limited
[{"type":"text","content":"\n RNS Number : 2889T Petro Matad Limited 24 September 2010 \n \n\n \nPetro Matad Limited (\"Petro Matad\" or the \"Company\")\nNotification of Subscription by EBRD\nFollowing Petro Matad's announcement of 16 September 2010, the Company is pleased to announce that the European Bank for Reconstruction and Development (the \"EBRD\") has today notified the Company that it will conditionally subscribe for 3,367,003 new ordinary shares of US$0.01 each in the Company (\"Share(s)\") at a price of 135 pence (US$2.08) per Share (the \"EBRD Subscription\"). Following the EBRD Subscription of approximately US$7 million, the aggregate amount raised by the Company in its September fundraising is approximately US$54 million. \n \nTimetable\n \nApplication has been made for the 8,843,675 Shares issued pursuant to the direct subscriptions set out in the Company's announcement of 16 September (the \"Direct Subscription Shares\") to be admitted to AIM. It is expected that trading will commence in these Shares at 8.00 am on or around 30 September 2010. \n \nThe issue of Shares pursuant to the EBRD Subscription will take place separately and a further announcement will be made in due course. \n \nShares in issue\n \nFollowing the issue of the Direct Subscription Shares and prior to the EBRD Subscription, the Company will have 179,185,324 Shares in issue. \n \nThe new Shares will, following allotment, rank pari passu in all respects with the existing issued Shares.\n \nChanges to notifiable holdings following the Placing\n \nIn so far as Petro Matad is aware, the following change has occurred to the following significant shareholder's holding as a result of its participation in the direct subscription: \n \n\n\n\n\n \n \n\n\nPrevious Shareholding \n\n\nNew Shareholding \n\n\nPercentage of Petro Matad's Issued Share Capital1\n\n\n\n\nPetrovis LLC\n\n\n34,040,032\n\n\n36,684,262\n\n\n20.47%\n\n\n\n\n1 Calculated prior to the issue of the Shares pursuant to the EBRD Subscription \n \nFollowing the EBRD Subscription, the EBRD will hold 31,741,110 Shares representing 17.4% of the Company's enlarged issued share capital. \n \nJohn Robertson, a director of the Company, subscribed for 50,000 new Shares in the Placing and not 103,950 new Shares as previously announced on ...