Petro Matad Limited Outcome of Open Offer, EGM and Advisor Appointment (6762H)
05 Agosto 2021 - 1:00AM
UK Regulatory
TIDMMATD
RNS Number : 6762H
Petro Matad Limited
05 August 2021
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
PETRO MATAD LIMITED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO.
596/2014 AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE
OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
5 August 2021
Petro Matad Limited
Outcome of Open Offer, EGM Statement and Appointment of
Advisor
Petro Matad Limited (AIM: Matad) ("Petro Matad" or the
"Company"), t he AIM quoted Mongolian oil company, announces the
outcome of the Open Offer to shareholders launched on 19 July
2021.
Open Offer
The Open Offer to shareholders, launched on 19 July 2021, closed
for acceptances in accordance with its terms at 11.00 am BST on 3
August 2021. The Company received valid applications in respect of
a total of 2,169,649 new ordinary shares in the Company ("Open
Offer Shares"). Subject to the passing of the resolutions to be
proposed at the Company's extraordinary general meeting ("EGM") to
be held today, the aggregate gross amount raised pursuant to the
Open Offer is therefore expected to be approximately GBP76,000.
Application has been made to the London Stock Exchange for the
admission of the Open Offer Shares to trading on AIM ("Admission").
Subject to the passing of the resolutions at the EGM, it is
expected that Admission will occur and that dealings will commence
at 8.00 a.m. BST on 6 August 2021.
EGM Statement
At the EGM to be held today, Mike Buck, the Company's CEO, will
make the following EGM statement:
"We are pleased to have completed a capital raise swiftly
following the award of the Exploitation Licence for the Heron
discovery. This allows us to secure long lead time items in
anticipation of commencing oil production as soon as next year, and
strategically puts us in control of our goal to deliver
transformational value to all stakeholders through production and
low-cost exploration.
While we have much to achieve, we start the next chapter of the
Company's development from a position of strength and independence.
As Mongolia's leading exploration company with proven operatorship
capability, we are well capitalised for the next phase of activity.
In addition, we continue to hold an excellent relationship with the
Mongolian government, which is committed to developing the
country's upstream oil industry, building a domestic oil refinery
and enhancing the country's energy independence.
We look to the future with confidence and our committed team
will work tirelessly to deliver shareholder value as we move into
the next phase of development."
A recording of the EGM held today (5 August 2021) will be
available on the Petro Matad corporate website in due course.
Appointment of Joint Broker:
We are also pleased to announce today the appointment of Arden
Partners plc as Joint Broker to the Company.
For further information please contact:
Petro Matad Limited
Mike Buck, Chief Executive Officer +9 76 7014 1099
Shore Capital Stockbrokers Limited (Nominated
Adviser & Broker)
Toby Gibbs / John More (Corporate Advisory)
Jerry Keen (Corporate Broking) +44 207 408 4050
Arden Partners (Joint Broker)
Paul Shackleton / Oscair McGrath (Corporate
Finance)
Tim Dainton (Equity Sales) +44 207 614 5900
FTI Consulting (Communications Advisory Firm) +44 203 727 1000
Sara Powell / Ben Brewerton / Genevieve Ryan petromatad@fticonsulting.com
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