Business
Placing to raise £2 Million
Placing to raise £2 Million.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 17 March 2023\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n LEI 213800L7QXFURBFLDS54\n \n \n \n Predator Oil & Gas Holdings Plc\n \n \n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries the \"Group\")\n \n \n \n \n \n \n \n \n \n Placing to raise £2 million\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n ·\n \n To fully fund the MOU-3 well\n \n \n \n ·\n \n Targeting Contingent and additional Prospective Resources in a single well\n \n \n \n ·\n \n Accelerating the potential for monetisation through a sales process in 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco\n is pleased to announce that it has conditionally placed\n 15,500,000 new ordinary shares of no par value in the Company and 20,863,636 existing ordinary shares of no par value in the Company\n transferred by a director of the Company, Paul Griffiths,\n ( the \"Placing Shares\") at a placing price of 5.5 pence each (the \"Placing Price\") to raise £2,000,000 (before expenses) (the \"Placing\").\n \n \n The Placing utilises the Company's available headroom shares as of 31 March 2023 under the Financial Conduct Authority restrictions for companies\n on the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities\n .\n \n \n Novum Securities Limited (\"Novum\") are acting as the sole placing agents to the Company.\n \n \n The Company will not have sufficient headroom to enable issue and admission of all of the 36,363,636 Placing Shares which are required to be issued pursuant to the Placing without producing of an FCA approved prospectus.\n \n \n The Company is therefore proposing to issue and admit 15,500,000 new ordinary shares (up to its existing headroom limit existing at 31 March 2023) on or around 3 April 2023.\n \n \n On the same date, it is also intended for a director of the Company, Paul Griffiths, to make up the shortfall by way of a loan of 20,863,636 existing ordinary shares (the \"Loan Shares\") held by him in order to settle the Placi...