TIDMCEG

RNS Number : 2239O

Challenger Energy Group PLC

29 September 2023

29 September 2023

Challenger Energy Group PLC

("Challenger Energy" or the "Company")

Admission of New Shares

Further to the Company's announcement of 30 August 2023, application has been made for admission ("First Admission") of 315,533,332 new ordinary shares of 0.02 pence each in the Company to trading on AIM. First Admission is expected on or around 2 October 2023, and on First Admission the new ordinary shares will rank pari passu with the Company's existing ordinary shares. As previously advised, these new ordinary shares will be allotted to a number of service providers that have provided services to the Company over the past 6 months, in lieu of fees otherwise payable in cash.

The Company has also today received a conversion notice in respect of GBP165,000 of outstanding convertible notes pursuant to the Facility advised in the Company's announcement of 30 August 2023, which will require the Company to issue a further 458,333,333 new ordinary shares. A further application has thus been made for admission of this amount of additional new ordinary shares to trading on AIM, with admission expected on or around 5 October 2023 ("Second Admission"). On Second Admission the further new ordinary shares will rank pari passu with the Company's existing ordinary shares.

On First Admission, the total issued share capital of the Company will consist of 9,935,732,811 ordinary shares. The Company does not hold any ordinary shares in treasury. Therefore, as previously advised, from First Admission the total number of voting rights in the Company will be 9,935,732,811 and this figure 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

On Second Admission, the total issued share capital of the Company will consist of 10,394,066,144 ordinary shares. The Company does not hold any ordinary shares in treasury. Therefore, from Second Admission the total number of voting rights in the Company will be 10,394,066,144 and this figure may be used from that time 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

 
 Challenger Energy Group PLC              Tel: +44 (0) 1624 647 
  Eytan Uliel, Chief Executive Officer     882 
 WH Ireland - Nomad and Joint Broker      Tel: +44 (0) 20 7220 
  Antonio Bossi / Darshan Patel / Isaac    1666 
  Hooper 
 Zeus Capital - Joint Broker              Tel: +44 (0) 20 3829 
  Simon Johnson                            5000 
 Gneiss Energy Limited - Financial        Tel: +44 (0) 20 3983 
  Adviser                                  9263 
  Jon Fitzpatrick / Paul Weidman / Doug 
  Rycroft 
 CAMARCO                                  Tel: +44 (0) 20 3757 
  Billy Clegg / Hugo Liddy / Sam Morris    4980

Notes to Editors

Challenger Energy is a Caribbean and Americas focused oil and gas company, with a range of oil production, development, appraisal, and exploration assets in the region. The Company's primary assets are located in Uruguay, where the Company holds high impact offshore exploration licences, and in Trinidad and Tobago, where the Company has a number of producing fields and earlier-stage exploration / appraisal projects.

Challenger Energy is quoted on the AIM market of the London Stock Exchange.

https://www.cegplc.com

ENDS

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END

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September 29, 2023 11:35 ET (15:35 GMT)

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