Predator Oil & Gas Announces Exercise of Warrants

Source: www.gulfoilandgas.com 7/12/2022, Location: South America

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland announces that it has received an exercise notice from Novum Securities Limited ("Novum") in respect of warrants issued to it pursuant to warrant agreements with the Company:

dated 24 May 2018 (in connection with the Placing carried out by the Company in May 2018 on admission of the Company to the Official List (standard listing segment) of the London Stock Exchange's main market for listed securities) to subscribe for 1,892,960 new shares of no par value each in the Company ("New Ordinary Shares") at 2.8p per share, and

dated 17 February 2020 (in connection with the Placing carried out by the Company in February 2020) to subscribe for 2,256,250 new shares of no par value each in the Company ("New Ordinary Shares") at 4p per share.

The Company has therefore allotted and issued the total of 4,149,210 New Ordinary Shares following receipt of the aggregate £143,252.88 subscription price from Novum. Application will be made to the Financial Conduct Authority ("FCA") for the New Ordinary Shares to be admitted to listing on the Official List (standard listing segment) of the FCA and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (together "Admission").

The Company advises that, following this Admission, the Company's issued share capital will be 308,595,477 shares of no par value, each with one vote per share (and no such shares are held in treasury). The total number of voting rights is therefore 308,595,477.

The above figure of 308,595,477 may be used by shareholders as the denominator for the calculations to determine if they have a notifiable interest in the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules, or if such interest has changed.

Details of the 2018 and 2020 option awards may be found in the Company's annual report.

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being the closing mid-market price on 4 July 2022, and will vest after 6 months.

Total Options and Warrants on issue
Following the exercise of the warrants by Novum, the total options and warrants outstanding in the Company are as follows:
(1) 18/5/18 options are exercisable at 2.8 pence per share
(2) 27/10/20 options are exercisable at 5 pence per share
(3) Warrants include outstanding warrants issued to Company advisers at an exercise price of 2.8 pence per share (160,718 on 24 May 2018), 12 pence per share (2,000,000 on 15 February 2019), 4 pence per share (2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021), 15 pence per share (600,000 on 18 June 2021) and 9 pence per share (690,000 on 28 March 2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's 2021 Annual Report and Financial Statements.
(4) 8,855,486 options are exercisable at 5.66 pence per share.
(5) 4,000,000 options are exercisable at 8.125 pence per share.

If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be £1,881,301.


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