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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petro Matad Limited | LSE:MATD | London | Ordinary Share | IM00B292WR19 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.10 | 2.63% | 3.90 | 3.80 | 4.00 | 3.90 | 3.80 | 3.80 | 2,788,981 | 09:00:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 201k | -2.95M | -0.0026 | -15.00 | 43.44M |
TIDMMATD
RNS Number : 9741N
Petro Matad Limited
15 August 2017
15 August 2017
Petro Matad Limited
("Petro Matad" or the "Company")
Update re. Financing Agreement
Petro Matad, the AIM quoted Mongolian oil explorer, provides an update in relation to the share purchase and convertible security deed (the "Deed") with Bergen Global Opportunity Fund, LP (the "Investor") as announced by the Company on 8 May 2017 (the "May RNS").
In order to provide the Company with an opportunity to minimise dilution to the existing shareholders, effective 14 August 2017, the Deed has been amended and restated by mutual consent of the Company and the Investor, to provide that (a) the approximately monthly schedule of tranche equity investments described in the May RNS will be postponed until 15 October 2017, and (b) in lieu of the monthly funding during that period, the Investor has advanced an amount of US$1,500,000 by way of a 24-month interest-free unsecured convertible instrument with the face value of US$1,500,000 (the "Additional Convertible"), which will be convertible, in whole or in part, into new ordinary shares on the same terms as the US$2,000,000 Convertible referenced as issuable under the Deed in the May RNS (the "May Convertible"). For clarity, the Additional Convertible is being advanced in addition to the May Convertible.
-Ends -
For more information, please contact:
Petro Matad Limited +97 670 141 099 / +97 Ridvan Karpuz, CEO 675 751 099 NOMAD and Broker Stockdale Securities Limited Richard Johnson / David Coaten +44 (0)20 7601 6100
Business Advisory Firm
FTI Consulting
Edward Westropp +44 (0)20 3727 1521
About Petro Matad
Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km(2) in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.
Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 15, 2017 02:00 ET (06:00 GMT)
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