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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petrolatina | LSE:PELE | London | Ordinary Share | GB00B2QMZ536 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 19.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPELE
RNS Number : 0061D
Petrolatina Energy PLC
15 March 2011
15 March 2011
PetroLatina Energy Plc
("PetroLatina" or the "Company")
Exercise of Warrants
PetroLatina (AIM: PELE), the independent oil and gas exploration, development and production company focused on Latin America, today announces the exercise of warrants into, in aggregate, 204,491 new ordinary shares of US$0.10 each ("New Ordinary Shares") in the Company.
Of the abovementioned 204,491 New Ordinary Shares, 71,572 New Ordinary Shares were issued as a result of the automatic exercise of warrants by Tribeca Oil & Gas, Inc. ("TOGI") (an existing substantial shareholder, and a portfolio investment company of Tribeca Asset Management Inc. (formerly Tribecapital Partners S.A.)).
The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares of US$0.10 each ("Ordinary Shares") and application will be made to the London Stock Exchange for these, in aggregate, 204,491 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on Monday 21 March 2011. The Company's issued ordinary share capital will consist of 105,074,911 Ordinary Shares with voting rights. PetroLatina does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.
The above figure of 105,074,911 Ordinary Shares may be used by shareholders in the Company 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, PetroLatina under the FSA's Disclosure and Transparency Rules.
Following the exercise of the abovementioned warrants and issuance of the New Ordinary Shares, TOGI and its related companies now hold, in aggregate, 59,573,507 Ordinary Shares, representing approximately 56.70 per cent. of the Company's enlarged issued share capital and warrants over a further 312,308 Ordinary Shares which are automatically exercisable if, and to the extent that, any exercise of the Company's other existing outstanding 580,000 warrants occurs. In addition, Tribeca Oil & Gas Financing Inc., a subsidiary of TOGI, currently holds an aggregate principal amount of US$6.29 million of convertible 12 per. cent loan notes due in June 2011.
Enquiries:
PetroLatina Energy Plc Tel: +57 1627 8435 Juan Carlos Rodriguez, Chief Executive Officer Pawan Sharma, Executive Vice President - Corporate Tel: +44 (0)20 7766 Affairs 0081 Strand Hanson Limited Simon Raggett/Matthew Chandler Tel: +44 (0)20 7409 3494 Evolution Securities Limited Rob Collins/Chris Sim Tel: +44 (0)20 7071 4304 Financial Dynamics Ben Brewerton/Susan Quigley Tel: +44 (0)20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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