TIDMPRD
RNS Number : 8163H
Predator Oil & Gas Holdings PLC
01 August 2023
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND
OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE
PROHIBITED BY APPLICABLE LAW.
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO
BUY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA AND NEW ZEALAND OR IN ANY OTHER
JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE
UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION
REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION .
NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM
THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR
COMMITMENT WHATSOEVER IN ANY JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
1 August 2023
Predator Oil & Gas Holdings plc
("Predator" or the "Company")
Result of the Placing
Further to its announcement of 4.35 p.m. of 31 July 2023
Predator 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 that the Bookbuild was oversubscribed and it
has successfully raised gross proceeds of GBP10 million, with good
new institutional support, pursuant to the Placing.
A total of 90,909,090 new ordinary shares of nil par value
("Ordinary Shares") were placed with investors ("Placing Shares"),
at an issue price of 11 pence (the "Placing Price").
Admission of new Ordinary Shares
Application will be made for the Placing Shares to be admitted
to trading on the standard segment of the main market of London
Stock Exchange plc ("Admission"). It is anticipated that Admission
will take place at or around 8.00 a.m. (London time) on 15 August
2023 (or such later date as many be agreed between the Company,
Novum and Fox-Davies) but in any event not later than 8.00 a.m. on
31 August 2023.
The Company does not currently have the ability under the
Prospectus Regulation Rules to enable admission of the Placing
Shares. The Company is working with its advisers to obtain approval
of a prospectus (the "Prospectus") which is in the late stages of
the vetting process with the FCA. In the event that the Prospectus
is not approved by the FCA in time to enable Admission on 15 August
2023, Admission will be delayed to ensure that the Company will
have sufficient headroom under the Prospectus Regulation Rules to
enable Admission. Admission will take place no later than the back
stop date of 8.00 am on 31 August 2023.
The Placing is conditional upon, inter alia, Admission becoming
effective and the placing agreement between the Company, Novum and
Fox-Davies ("Placing Agreement") not having been terminated. The
Placing Shares will, when issued, be credited as fully paid and
will rank pari passu in all respects with the Company's existing
issued Ordinary Shares.
Total Voting Rights
Following Admission of the 90,909,090 Placing Shares, the
Company's issued share capital will consist of 517,312,508 Ordinary
Shares. The Company holds no Ordinary Shares in treasury.
Therefore, the total number of voting rights in shares in the
Company is 517,312,508, which is the figure which should 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, Predator shares under the FCA's
Disclosure Guidance and Transparency Rules.
Capitalised terms used but not defined in this announcement have
the same meanings as set out in the fundraise announcement of the
Company released at 4.35 p.m. (GMT) on 31 July 2022.
Enquiries:
Predator Oil & Gas plc Tel: +44 (0) 1534 834
Paul Griffiths Executive Chairman 600
Lonny Baumgardner Managing Director Info@predatoroilandgas.com
Novum Securities Limited Tel +44 (0)20 7399 9400
David Coffman / Colin Rowbury
Fox-Davies Capital Limited Tel +44 (0)203 884 7447
Jerry Keen jerry@fox-davies.com
Flagstaff Strategic and Investor Tel: +44 (0)207 129 1474
Communications predator@flagstaffcomms.com
Tim Thompson
Mark Edwards
Fergus Mellon
About Predator
Predator is operator of the Guercif Petroleum Agreement onshore
Morocco which is prospective for Tertiary gas less than 10
kilometres from the Maghreb gas pipeline. The MOU-1 well drilled in
2021 is being prepared for a follow-up testing programme to
coordinate with a further drilling programme to move the project to
a CNG development stage.
Predator is seeking to further develop the remaining oil
reserves of Trinidad's mature onshore oil fields through the
application of CO2 EOR techniques and by sequestrating
anthropogenic carbon dioxide.
Predator owns and operates exploration and appraisal assets in
licensing options offshore Ireland, for which successor
authorisations have been applied for, adjoining Vermilion's Corrib
gas field in the Slyne Basin on the Atlantic Margin and east of the
decommissioned Kinsale gas field in the Celtic Sea.
Predator has developed a Floating Storage and Regasification
Project ("FSRUP") for the import of LNG and its regassification for
Ireland and is also developing gas storage concepts to address
security of gas supply and volatility in gas prices during times of
peak gas demand.
The Company has a highly experienced management team with a
proven track record in operations in the oil and gas industry.
For more information, visit www.predatoroilandgas.com
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END
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August 01, 2023 02:00 ET (06:00 GMT)
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