Eco (Atlantic) Oil and Gas Ltd. Restricted Share Unit Conversion (7628Q)
22 Febrero 2023 - 12:00PM
UK Regulatory
TIDMECO
RNS Number : 7628Q
Eco (Atlantic) Oil and Gas Ltd.
22 February 2023
22 February 2023
ECO (ATLANTIC) OIL & GAS LTD.
("Eco", "Eco Atlantic", the "Company", or, together with its
subsidiaries, the "Group")
Restricted Share Unit Conversion
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX -- V: EOG), the
oil and gas exploration company focused on the offshore Atlantic
Margins, announces that 600,000 of the Restricted Share Units
("RSUs") issued to directors, officers and advisers, pursuant to
the Company's Restricted Share Units Plan were converted into
600,000 common shares of no par value in the Company ("Common
Shares") ("RSU Shares") on 28 December 2022. Of the RSUs converted,
Gil Holzman, Chief Executive Officer of Eco Atlantic, elected to
convert 475,000 RSUs held by him (from which 325,000 Common Shares
were issued to Gil Holzman and 150,000 Common Shares were issued to
his wife) as detailed in the PDMR Notification Form below.
Application has been made for admission of the 600,000 RSU
Shares, which will rank pari passu with existing Common Shares, to
trading on AIM ("Admission"). It is expected that Admission will
become effective, and trading in the RSU Shares will commence, on
or around 8:00 a.m. on 28 February 2023.
On Admission, the enlarged issued share capital of the Company
will be 365,682,014 Common Shares. It is noted that this figure
takes into account the 841,824 Common Shares that were cancelled,
as announced on 1 August 2022, which had not been deducted from the
total voting rights announced on 20 December 2022. The above figure
may be used by shareholders 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, the share capital of
the Company.
For more information, please visit www.ecooilandgas.com or
contact the following :
Eco Atlantic Oil and Gas c/o Celicourt +44 (0) 20
8434 2754
Gil Holzman, CEO
Colin Kinley, COO
Alice Carroll, Head of Marketing and +44(0)781 729 5070 | +1 (416)
IR 318 8272
Strand Hanson Limited (Financial &
Nominated Adviser) +44 (0) 20 7409 3494
James Harris
James Bellman
Berenberg (Broker) +44 (0) 20 3207 7800
Matthew Armitt
Detlir Elezi
Echelon Capital (Financial Adviser
N. America Markets)
Ryan Mooney +1 (403) 606 4852
Simon Akit +1 (416) 8497776
Celicourt (PR) +44 (0) 20 8434 2754
Mark Antelme
Jimmy Lea
Notes to editors:
About Eco Atlantic:
Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused
oil & gas exploration company with offshore license interests
in Guyana, Namibia, and South Africa. Eco aims to deliver material
value for its stakeholders through its role in the energy
transition to explore for low carbon intensity oil and gas in
stable emerging markets close to infrastructure.
Offshore Guyana in the proven Guyana-Suriname Basin, the Company
holds a 15% Working Interest in the 1,800 km(2) Orinduik Block
Operated by Tullow Oil. In Namibia, the Company holds Operatorship
and an 85% Working Interest in four offshore Petroleum Licences:
PELs: 97, 98, 99, and 100, representing a combined area of 28,593
km(2) in the Walvis Basin.
Offshore South Africa, Eco is Operator and holds a 50% working
interest in Block 2B and a 26.25% Working Interest in Block 3B/4B
operated by Africa Oil Corp., totalling some 20,643km (2) .
PDMR Notification Forms
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gil Holzman
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status President, CEO and Director of the
Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
4. Details of the transaction(s):section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv)each place where transactions have
been conducted
---------------------------------------------------------------------------
a) Description of the Financial Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 475,000 common
shares pursuant
to the conversion
of the RSUs
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 December 2022
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
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