Petroneft Resources PLC Conversion of Debt (3696J)
23 Agosto 2021 - 2:00AM
UK Regulatory
TIDMPTR
RNS Number : 3696J
Petroneft Resources PLC
23 August 2021
August 23(rd) 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
PetroNeft Resources plc
("PetroNeft" or the "Group" or the "Company")
Conversion of debt
PetroNeft (AIM: PTR) an oil & gas exploration and production
company, operating in the Tomsk Oblast, Russian Federation, and 90%
owner and operator of Licence 67 and 50% owner and operator of
Licence 61, announces that it has received notice to convert a
total of $293,125 of debt, issued under 3 historic convertible loan
agreements, for the issuance of 11,475,840 new Ordinary shares.
The conversion of this debt to shares will result in the
outstanding convertible debt being reduced from $3.044 million to
$2.750 million and an increase in the total number of issued shares
in the Company from 1,045,235,387 to 1,056,711,227. The conversion
price of the shares being issued was at a premium to the share
price on the dates that the terms of the loan agreements were
agreed.
Application will be made to the London Stock Exchange and
Euronext Dublin for the 11,475,840 PetroNeft ordinary shares to be
admitted to trading on AIM and Euronext Growth. It is expected that
admission to trading on each exchange will become effective and
that dealings in the New Ordinary Shares will commence on AIM and
Euronext Growth at 8.00 a.m. on 26(th) August 2021.
For further information, contact:
+44 7903 869
David Sturt, CEO, PetroNeft Resources plc 608
+353 1 679
John Frain/Ciara O'Mongain, Davy (NOMAD and Broker) 6363
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+353 1 498
Joe Heron / Douglas Keatinge, Murray Consultants 0300
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END
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August 23, 2021 03:00 ET (07:00 GMT)
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