Business
Publication of a Prospectus
Publication of a Prospectus.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n\n10 August 2023\nPredator Oil & Gas Holdings plc\n(\"Predator\" or the \"Company\")\nPublication of a Prospectus\nPredator Oil & Gas Holdings plc (LSE: PRD), a Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, is pleased to announce the publication of a (\"Prospectus\") dated 10 August 2023.\nThe Prospectus has been approved by the Financial Conduct Authority and is available to view on the Company's website: https://www.predatoroilandgas.com/investors/documents-circulars/ and at the National Storage Mechanism: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.\nThe Prospectus has been published to enable the admission to trading (\"Admission\") of 90,909,090 new ordinary shares (\"Placing Shares\") pursuant to a placing announced on 1 August 2023 (\"Placing\") and 45,189,580 replacement shares (\"Replacement Shares\") issued to Paul Griffiths and Lonny Baumgardner, directors of the Company.\nThe Placing raised £10m at 11 pence per share before costs and the net proceeds will be used for MOU-4 well costs, rigless well testing of MOU-1 and MOU-3 and MOU-4 and a compressed natural gas proof of concept study.\nThe Replacement Shares have been issued pursuant to the repayment terms of the stock lending agreements entered into between Paul Griffiths and the Company dated 17 August 2022,16 March 2023 and 28 June 2023 respectively and between Lonny Baumgardner and the Company dated 28 June 2023.\nApplications will be made to the FCA and the LSE for Admission of the Placing Shares and Replacement Shares which is expected to take place on or around 15 August 2023. These shares rank pari passu with the existing ordinary shares of the Company.\nOn Admission, the Company's issued share capital will comprise 562,502,088 ordinary shares of nil par value, with each ordinary share carrying the right to one vote. Accordingly, the total number of voting rights in the Company will be 562,502,088 and this figure may be used by shareholders 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 Company under the FCA's Disclosure Guidance and Transparency Rules.\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms p...