Bahamas Petroleum Company PLC Exercise and Issuance of Warrants (4255J)
December 22 2020 - 1:00AM
UK Regulatory
TIDMBPC
RNS Number : 4255J
Bahamas Petroleum Company PLC
22 December 2020
22 December 2020
Bahamas Petroleum Company plc
("BPC" or the "Company")
Exercise and Issuance of Warrants
BPC, the Caribbean and Atlantic margin focused oil and gas
company, with exploration, production, appraisal and development
assets across the region, advises that it has received notification
for the exercise of warrants in respect of 3,624,800 ordinary
shares of 0.002p each in the capital of the Company. The exercise
price in connection with these share options is 2p per share.
Application has been made for the shares to be admitted to
trading on AIM ("Admission"), and Admission is expected to occur on
or about 24 December 2020. These shares will rank pari passu with
the ordinary shares of the Company in issue.
The Company's total issued share capital, following the issue of
the shares, will comprise of 4,506,673,349 ordinary shares. As the
Company does not hold any shares in Treasury, this figure may be
used by shareholders in the Company 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
share capital of the Company following Admission.
Further, the Company advises that, in relation to Funding
Agreement announced on 14 December 2020, the Company has issued
42,500,000 warrants in relation to advisory fees. These warrants
are valid for 3 years from the date of grant and with an exercise
price of 2 pence per share. If exercised, these warrants would
result in gross proceeds being received by the Company of
approximately GBP850,000.
For further information, please contact:
Bahamas Petroleum Company plc Tel: +44 (0)
Simon Potter, Chief Executive Officer 1624 647 882
Strand Hanson Limited - Nomad Tel: +44 (0)
Rory Murphy / James Spinney / Jack 20 7409 3494
Botros
Shore Capital Stockbrokers Limited Tel: +44 (0)
- Joint Broker 207 408 4090
Jerry Keen / Toby Gibbs
Investec Bank Plc - Joint Broker Tel: +44 (0)
Chris Sims / Rahul Sharma 207 597 5970
CAMARCO Tel: +44 (0)
Billy Clegg / James Crothers / Hugo 20 3757 4983
Liddy
-
END
Notes to editors
BPC is a Caribbean and Atlantic margin focused oil and gas
company, with a range of exploration, appraisal, development and
production assets and licences, located offshore in the waters of
The Bahamas and Uruguay, and onshore in Trinidad and Tobago, and
Suriname. BPC is currently drilling an initial exploration well in
The Bahamas, Perseverance #1, with the well targeting recoverable
P(50) prospective oil resources of 0.77 billion barrels, with an
upside of 1.44 billion barrels. In Trinidad and Tobago, BPC has
five producing fields, two appraisal / development projects and a
prospective exploration portfolio in the South West Peninsula.
BPC's exploration licence in Uruguay is highly prospective, with a
potential resource of 1 billion barrels of oil equivalent. In
Suriname, BPC has an onshore appraisal / development project.
BPC is listed on the AIM market of the London Stock Exchange. www.bpcplc.com
END
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