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Share Name Share Symbol Market Type Share ISIN Share Description
Predator Oil & Gas Holdings Plc LSE:PRD London Ordinary Share JE00BFZ1D698 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.125 1.56% 8.125 8.00 8.25 8.125 7.875 8.00 3,229,781 14:00:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.4 -0.5 - 29

Predator Oil & Gas Holdings PLC Exercise of Warrants

12/07/2022 7:00am

UK Regulatory (RNS & others)

Predator Oil & Gas (LSE:PRD)
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RNS Number : 0875S

Predator Oil & Gas Holdings PLC

12 July 2022


12 July 2022

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas


Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

Exercise of Warrants

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 GBP143,252.88 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.

Directors' Holdings

The positions held by the Directors are as follows:

                                   18 May 2018    27 October    31 January    5 July 2022 
                                                  2020          2022 
 Paul Griffiths    46,871,508     4,005,486      3,850,000     Nil           Nil 
                  -------------  -------------  ------------  ------------  ------------- 
 Stephen Staley     669,600       1,001,370      1,650,000     Nil           Nil 
                  -------------  -------------  ------------  ------------  ------------- 
 Louis Castro      Nil            Nil            1,650,000     1,000,000     Nil 
                  -------------  -------------  ------------  ------------  ------------- 
  Baumgardner       555,600       Nil            Nil           7,855,486     Nil 
                  -------------  -------------  ------------  ------------  ------------- 
 Alistar Jury      Nil            Nil            Nil           Nil           2,000,000 
                  -------------  -------------  ------------  ------------  ------------- 
 Tom Evans         Nil            Nil            Nil           Nil           2,000,000 
                  -------------  -------------  ------------  ------------  ------------- 

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:

                OPTIONS     OPTIONS       WARRANTS(3)   OPTIONS       OPTIONS 
                 18 May      27 October                  31 January    5 July 2022 
                 2018(1)     2020(2)                     2022(4) 
 Directors      5,006,856   7,150,000     Nil           8,855,486     4,000,000 
               ----------  ------------  ------------  ------------  ------------- 
 Previous       1,001,370   Nil           Nil           Nil 
               ----------  ------------  ------------  ------------  ------------- 
 Advisers       Nil         Nil           5,974,468     Nil 
  and others 
               ----------  ------------  ------------  ------------  ------------- 

(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 GBP1,881,301.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

For more information please visit the Company's website at :


 Predator Oil & Gas Holdings Plc                   Tel: +44 (0) 1534 834 600 
  Paul Griffiths Executive Chairman        
  Lonny Baumgardner Managing Director 
 Novum Securities Limited                          Tel: +44 (0) 207 399 9425 
  Jon Belliss 
  Optiva Securities Limited                         Tel: +44 (0) 203 137 1902 
  Christian Dennis 
  Peterhouse Capital Limited                        Tel: +44 (0) 207 220 9791 
  Charles Goodfellow 
 Flagstaff Strategic and Investor Communications   Tel: +44 (0) 207 129 1474 
  Tim Thompson                             
  Mark Edwards 
  Fergus Mellon 

Notes to Editors:

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline. The MOU-1 well has been completed and a follow-up testing programme is being developed and a further drilling programme is under review.

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 to produce "greener" oil.

In addition, Predator also 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.

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(END) Dow Jones Newswires

July 12, 2022 02:00 ET (06:00 GMT)

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