Retail Offer

Global Petroleum Limited ("Global" or the "Company") (AIM:GBP) is pleased to announce an offer to its existing retail shareholders via CMC CapX (the "Retail Offer") of new ordinary shares of NPV in the capital of the Company (the "Retail Offer Shares").

In addition to the Retail Offer, the Company is also conducting a placing of new ordinary shares (the "Placing Shares" and together with the Retail Offer Shares, the "Fundraising Shares") through a placing (the "Placing"). The price of the Fundraising Shares is 0.225p (the "Issue Price").

The Retail Offer and the Placing are conditional on, the Fundraising Shares being admitted to trading on the AIM market operated by London Stock Exchange plc ("Admission"). Admission is expected to take place at 8.00 a.m. on 16th January 2025. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing.

The Retail Offer

Therefore, the Company is making the Retail Offer open to Eligible Shareholders (as defined below) in the United Kingdom via the CMC CapX following release of this announcement.

The Retail Offer is expected to close by 4p.m. on 10th January 2025, but the Company reserves the right to close it earlier. Eligible Shareholders should note that financial intermediaries may also have earlier closing times.

Expected timetable

There is a minimum subscription of £250 per investor. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

The Retail Offer is not being made into any jurisdiction other than the United Kingdom.

No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the FCA (or any other authority) in relation to the Retail Offer and investors' commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Disclosure Guidance and Transparency Rules, the Market Abuse Regulation (EU Regulation No. 596/2014) as it forms part of United Kingdom law by virtue of EUWA.

UK Product Governance Requirements[2]

EU Product Governance Requirements

[1] In the event that a shareholder meeting is required, the time and date for the meeting should be included prior to Admission

[2] These sections are to be included if CMC categorises itself as a "manufacturer" in relation to the Retail Offer for the purposes of PROD. Under PROD, if a manufacturer, CMC is required to undertake a target market assessment for the Retail Offer Shares in accordance with PROD 3.