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Company Petrel Resources PLC
TIDM PET
Headline Results of EGM and Issue of New Ordinary Shares
Released 13:56 21-Nov-2019
Number 2533U13

RNS Number : 2533U
Petrel Resources PLC
21 November 2019
 

 

 

 

 

 

21st November 2019

 

Petrel Resources plc

("Petrel" or "the Company")

 

Results of Extraordinary General Meeting ("EGM") and

Issue of New Ordinary Shares

 

 

Petrel is pleased to announce that at the EGM held earlier today the ordinary resolution to approve, on a poll, the waiver under Rule 9 of the Irish Takeover Rules was passed.

 

Accordingly 64,035,976 Ordinary Shares of 1.25 cent each ("New Shares") will be issued to the Tamraz group at the placing price of 1.25 cent each. Following the allotment of the New Shares the Tamraz group will hold 51% of the Enlarged Issued Share Capital of the Company.

 

Application has been made for the New Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and it is expected that this will take place on or around 27 November 2019 ("Admission").

 

Following the Admission of the 64,035,976 New Shares, Petrel Resources will have 213,382,135 Ordinary Shares in issue which will also represent the total number of voting rights in the Company.  The above figure should 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 Company under the FCA's Disclosure and Transparency Rules.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Jim Finn, Secretary.

 

A copy of this announcement is available on the Company's website, at http://www.petrelresources.com/  or contact:

 

 

END

 

 

 

 

 

Enquiries:

 

Petrel Resources

 

John Teeling, Chairman

+353 (0) 1 833 2833

David Horgan, Director

 

 

 

Nominated Adviser and Broker

 

Beaumont Cornish - Nominated Adviser 
Felicity Geidt

Roland Cornish

 


+44 (0) 020 7628 3396

Novum Securities Limited - Broker 
Colin Rowbury

 

+44 (0) 20 399 9400

 

 

 

Blytheweigh - PR
Julia Tilley
Fergus Cowan 

 

+44 (0) 20 7138 3206

+44 (0) 207 138 3553

+44 (0) 207 138 3208

 

 

 

Teneo

Luke Hogg

Alan Tyrrell

 

+353 (0) 1 661 4055

+353 (0) 1 661 4055

 


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