19 August 2024
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Global Petroleum
Limited
("Global"
or "the Company")
Result of Oversubscribed
Retail Offer
Global Petroleum Limited (LSE AIM:
GBP) is pleased to announce, further to its
earlier announcement of 14 August 2024, that it has conditionally
raised £250,000 (before expenses) via the conditional issue
of 384,615,385 new
ordinary shares in the capital of the Company (the "Retail Offer Shares") at a price of
0.065 pence per share (the "Issue
Price") pursuant to its offer to its existing retail
shareholders via CMC CapX (the "Retail Offer").
Due to exceptional demand, the
Retail Offer was significantly oversubscribed in relation to its
original retail target raise of £100,000 and the Company decided to
accommodate the excess demand from its shareholders. This has also
resulted in participants being scaled back from their original
amounts requested. The Company wishes to thank shareholders for
their continued support.
The Retail Offer is conditional on
the Retail Offer Shares being admitted to trading on the AIM market
operated by the London Stock Exchange plc ("Admission"). Admission is expected to
take place at 8.00 a.m. on or around 22 August 2024.
Further to the announcement of 14
August 2024, under the Consultancy Agreement the Company will issue
Callum Baxter 200,000,000 Shares, in addition to 10% of the total
number of new Shares issued pursuant to the Capital Raising,
amounting to a further 130,769,231 Shares. Thus, the total shares
due to Callum Baxter will be 330,769,231 new ordinary
shares.
As announced on 14 August 2024, the
Company will also issue the Consultants to the Transaction the
following Shares in lieu of fees:
·
Omar Ahmad is to recieve147,000,522 Shares, plus a
further 96,115,385 new ordinary shares, representing 7.35% of the
total number of new Shares issued pursuant to the Capital Raising.
The total number of shares due to Omar Ahmad will be 243,115,907
new ordinary shares.
· Hamza Choudhry is to receive 52,999,478 Shares, plus a
further 34,653,846 new ordinary shares,
representing 2.65% of the total number of
new Shares issued pursuant to the Capital Raising. The total number
of shares due to Hamza Choudhry will be 87,653,324 new ordinary
shares.
Total voting rights
Following Admission, the total
issued share capital of the Company will be 3,914,344,012 Ordinary
Shares. Accordingly, the figure of 3,914,344,012 is to be used by
shareholders 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 Company under the FCA's
Disclosure Guidance and Transparency Rules.
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Global Petroleum Limited
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+61 3 8611 5333
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Andrew Draffin, Company Secretary
and non-Executive Director
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SPARK Advisory Partners (Nominated
Adviser)
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+44 (0) 20 3368 3555
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Andrew Emmott
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CMC
Markets (Joint Broker)
Douglas Crippen
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+44 (0) 20 3003 8632
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SI
Capital Limited
Nick Emerson
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+44 (0) 14 8341 3500
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Tavistock (Financial PR & IR)
Simon Hudson / Nick Elwes
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+44 (0) 20 7920 3150
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