Issue of Warrants
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Wildcat Petroleum plc (LSE: WCAT), a company targeting investment opportunities in business and assets within the upstream sector of the petroleum industry, announces the issue of warrants to Directors and our Financial Adviser.
Following a review of salaries paid to the Directors and its Financial Adviser, warrants are being issued in lieu of an increase in fees to Mandhir Singh (Executive Director), Glyn Roberts (Executive Director) and Guild Financial Advisory Limited (Financial Adviser) to conserve the Company's working capital.
The warrants are exercisable at a strike price of 0.25 pence ("Warrants") and have an expiry date of 31 December 2027. Warrants being issued are detailed below:
| Name | Number of Warrants being issued | Total number of Warrants held on the date on which the Warrants were issued | Shareholding upon exercise of total number of Warrants held | % of issued share capital upon exercise of Warrants |
|---|---|---|---|---|
| Mandhir Singh | 35,000,000 | 35,000,000 | 1,742,325,000 | 61.06% |
| Glyn Roberts | 15,000,000 | 15,000,000 | 38,700,000 | 1.36% |
| Guild Financial Advisory Limited | 500,000 | 500,000 | 500,000 | 0 .02% |
Following the above issue of Warrants, the total number of Warrants in issue is 50,500,000 equating to 1.77% of the Company's enlarged share capital assuming full exercise of all warrants and share options.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Mandhir Singh | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Wildcat Petroleum Plc | ||||
| b) | LEI: | 213800PPETBUU3UZRU78 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.000028 pence each GB00BMQC7357 | ||||
| b) | Nature of the transaction: | Warrants in lieu of an increase in Directors fees | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above Price(s) Volume(s) 0.25 pence 35,000,000 | ||||
| e) | Date of the transaction: | 17 January 2024 07:00 BST | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Glyn Roberts | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Executive Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Wildcat Petroleum Plc | ||||
| b) | LEI: | 213800PPETBUU3UZRU78 | ||||
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of 0.000028 pence each GB00BMQC7357 | ||||
| b) | Nature of the transaction: | Warrants in lieu of an increase in Directors fees | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above Price(s) Volume(s) 0.25 pence 15,000,000 | ||||
| e) | Date of the transaction: | 17 January 2024 07:00 BST | ||||
| f) | Place of the transaction: | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.