Director Increases Participation in Fundraise
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Nostra Terra (AIM: NTOG), an international oil and gas exploration and production company with development and production assets in Texas, USA, is pleased to announce that James F. Newman, an NTOG Board member, has increased his participation in the recent fundraising announced on 29 July 2024. Mr. Newman has subscribed for an additional 40,000,000 new ordinary shares at a price of 0.03p per share (the "Placing Price") (the "Additional Fundraise Shares"), increasing his total participation in the fundraising to 140,000,000 new ordinary shares.
The Additional Fundraise Shares increase the size of the original amount raised from £450,000 to £462,000 (before expenses) through an aggregate subscription and placing of 1,539,999,998 new ordinary shares ("Fundraise Shares") at the Placing Price (the "Fundraise").
Application for Admission and Total Voting Rights
An application will be made to the London Stock Exchange for the additional 40,000,000 new ordinary shares to be admitted to trading on AIM ("Admission"); it is expected that Admission will become effective on or around 8 August 2024.
In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that on issue of the Additional Fundraise Shares and following Admission, the Company's enlarged issued ordinary share capital will comprise 2,561,520,532 Ordinary Shares.
Director's participation
Mr Newman has subscribed for the following Additional Fundraising Shares:
| Director | Additional Subscription amount | Total Number of new ordinary shares | Resultant shareholding | Resultant interest in enlarged share capital |
|---|---|---|---|---|
| Jim Newman | £12,000 | 40,000,000 | 255,000,000* | 9.96% |
*including 215,000,000 existing ordinary shares held by Dos Hermanos International, LLC, of which Mr Newman is a principal.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1) Jim Newman |
| 2 | Reason for the notification | |
| a) | Position/status | 1) Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Nostra Terra Oil and Gas Company plc |
| b) | LEI | 213800JO9A4LO19YJ129 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.0001 each GB00BZ76F335 |
| b) | Nature of the transaction | Fundraise of ordinary shares |
| c) | Price(s) and volume(s) | PDMR Price No. of shares Jim Newman £0.0003 40,000,000 |
| d) | Aggregated information - Aggregated volume - Price | N/A, single transaction |
| e) | Date of the transaction | 2 August 2024 |
| f) | Place of the transaction | Outside a trading venue |
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