Business
Update to the fund raising announced 17 March 2023
Update to the fund raising announced 17 March 2023.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n 29 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 Update to the fund raising announced on 17 March 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 announces the following update to the fund raising announced on 17 March 2023. \n \n \n On that date the Company announced that it had conditionally placed 15,500,000 new ordinary shares of no par value in the Company (\"New Shares\") and 20,863,636 existing ordinary shares of no par value in the Company (\"Loan Shares\") transferred by a director of the Company, Paul Griffiths, at a placing price of 5.5 pence each (the \"Placing Price\") to raise £2,000,000 (before expenses) (the \"Placing\") for completion on 3 April 2023. The Company now confirms that the number of New Shares issued will be 14,174,056 whilst the number of Loan Shares to be transferred by Paul Griffiths will be 22,189,580. \n \n \n The total funds raised by the Placing remains at £2,000,000, which is conditional on the New Shares being admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities (\"Admission\") on or around 3 April 2023 (or such later date as may be agreed by the Company and Novum)..\n \n \n \n \n \n \n Stock Lending Agreement\n \n \n \n The Loan Shares will be documented in a single stock lending agreement between Paul Griffiths and the Company (the \"Stock Lending Agreement\").\n \n \n Under the unsecured Stock Lending Agreement between the Company and Paul Griffiths the return of 22,189,580 shares loaned to the Company (the \"Loan\") are intended to be issued to Mr Griffiths when the Company has additional headroom and at an appropriate time, subject to the Company's dealing policy. When repayment is due the Company will make the necessary listing and admission hearing applications to have those new ord...