Mosman Oil and Gas Limited Issued Capital (6540N)
21 Mayo 2020 - 7:18AM
UK Regulatory
TIDMMSMN
RNS Number : 6540N
Mosman Oil and Gas Limited
21 May 2020
21 May 2020
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Issued Capital
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, provides the following update
in respect of the issued capital and directors' subscriptions for
shares announced on 14 February 2020.
Due to Australian corporation requirements, the Company has been
unable to issue the 41,666,666 shares and associated warrants ("the
Directors' Subscription Shares") and will not be able to do so
until shareholder approval for the Directors' Subscription has been
granted. The Company intends to seek shareholder approval for the
matter at the Company's General Meeting ("GM") which is currently
expected to be held in July 2020.
As noted in the announcement of 14 February 2020, the Directors'
Subscription Shares are being issued in lieu of director and
consultancy fees due or owed of AUD120,000, these fees remain
unpaid and the Company's cash position has therefore not been
affected by the delay in issuing these shares.
As announced on 24 March 2020, as part of its cost reduction
programme, the Company will also be seeking shareholder approval at
the GM to enable 50% of contracted consultancy fees to be settled
in shares, again reducing the cash component payable by the
Company.
A notice of GM will be sent to shareholders in June 2020 and
further announcements will be made as appropriate.
Total Voting Rights
The Company has applied to cancel the admission of Depositary
Interests representing the Directors' Subscription Shares until
such time as shareholder approval has been granted, with such
cancellation expected to be effective on or around 28 May 2020.
Following this announcement, the issued share capital of the
Company will consist of 1,085,810,968 Ordinary Shares. No shares
were held in treasury at the date of this announcement. The total
current voting rights in the Company are therefore
1,085,810,968.
Consequently, the above 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 to their interest in, the share capital of the Company
under the Company's Constitution.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Joint Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail / Soltan
jwbarr@mosmanoilandgas.com Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR Joint Broker
Justine James Monecor (London) Ltd trading as ETX
+44 (0) 20 3405 0205 Capital
+44 (0) 7525 324431 Thomas Smith
mosman@almapr.co.uk +44 (0) 20 7392 1432
Updates on the Company's activities are regularly posted on its
website: www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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May 21, 2020 08:18 ET (12:18 GMT)
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