PSU Share Issuance and Total Voting Rights
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Calgary, AB and Houston, TX - January 5, 2024 - PetroTal Corp. ("PetroTal" or the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces issuance of Common Shares to employees pursuant to annually vested performance share unit plan ("PSU").
PSU Issue
PetroTal has issued an aggregate of 6,959,115 Common Shares to employees pursuant to the annual obligation to issue vested performance share units under the Company's performance and restricted share unit plan, as approved by the TSX Venture Exchange on December 12, 2019.
Shares issued to directors or officers of the Company are as follows:
Manolo Zuniga - President and Chief Executive Officer - 3,481,306 shares (net of withholding taxes)
Douglas Urch - Executive Vice President and Chief Financial Officer - 922,683 shares (net of withholding taxes)
Dewi Jones - Vice President Exploration and Development -724,786 shares (net of withholding taxes)
Further details regarding the Company's PSU plan are set out in the management information circular of the Company dated May 3, 2023, which is available on SEDAR at www.sedar.com.
Application will be made for a total admission of 6,959,115 Common Shares to trading on AIM ("Admission"), which will rank pari passu with existing Common Shares, expected to occur on or around January 10, 2024.
Following Admission, PetroTal will have 919,273,461 common shares issued and there are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
PDMR Notification Form:
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Manuel Pablo Zuniga-Pflucker Douglas Urch Dewi Jones |
| 2. | Reason for the Notification | |
| a) | Position/status | President & Chief Executive Officer Executive Vice President & Chief Financial Officer Vice President Exploration & Development |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | PetroTal Corp. |
| b) | LEI | 21380047ER33PRH4XH56 |
| a) | Description of the Financial instrument, type of instrument | PetroTal Corp. Common Shares |
| Identification code | CA71677J1012 | |
| b) | Nature of the Transaction | Issue of Common Shares under the Company's performance and restricted share unit plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) n/a n/a n/a 3,481,306 922,683 724,786 |
| d) | Aggregated information Aggregated volume Price | n/a |
| e) | Date of the transaction | 5 January 2024 |
| f) | Place of the transaction | n/a |
Douglas Urch
Executive Vice President and Chief Financial Officer
Manolo Zuniga
President and Chief Executive Officer
PetroTal Investor Relations
Celicourt Communications
Mark Antelme / Jimmy Lea
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
Peel Hunt LLP (Joint Broker)
Richard Crichton / David McKeown / Georgia Langoulant
READER ADVISORIES
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