Mosman Oil and Gas Limited Directors' Subscription (5634J)
December 05 2018 - 8:24AM
UK Regulatory
TIDMMSMN
RNS Number : 5634J
Mosman Oil and Gas Limited
05 December 2018
5 December 2018
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Directors' Subscription
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, announces that following the
proposed subscription by certain directors announced on 9 November
2018 (the "Directors' Subscription"), the Executive Directors of
Mosman have now subscribed for an aggregate of 40,000,000 new
ordinary shares of no par value in the capital of the Company
("Subscription Shares") at a price of 0.275p per share plus a 1 for
2 warrant exercisable at 0.4p per share (the "Warrants"). The
Warrants will be exercisable within 24 months of issue.
The Directors' Subscription reflects exactly the same terms as
the investment from external investors (also announced on 9
November 2018).
John W Barr has subscribed for a total of 20,000,000 ordinary
shares of no par value ("Ordinary Shares") at a price of 0.275p.
Following the subscription, John W Barr holds a beneficial interest
in 30,100,001 Ordinary shares representing approximately 4.73 per
cent. of the Company's enlarged issued share capital.
Andy R Carroll has subscribed for a total of 20,000,000 ordinary
shares of no par value ("Ordinary Shares") at a price of 0.275p.
Following the subscription, Andy R Carroll holds a beneficial
interest in 21,876,500 Ordinary shares representing approximately
3.44 per cent. of the Company's enlarged issued share capital.
The Directors' Subscription described in this announcement is a
related party transaction for the purposes of Rule 13 of the AIM
Rules. John A Young, being the independent director of Mosman for
the purposes of Rule 13, considers, having consulted with the
Company's Nominated Adviser, SP Angel Corporate Finance LLP, that
the terms of the related party transaction are fair and reasonable
insofar as the shareholders of the Company are concerned.
Admission to AIM and Total Voting Rights
The Directors' Subscription is conditional on, inter alia, the
Placing Shares being admitted to trading on AIM. Application has
been made to the London Stock Exchange for the Placing Shares,
which will rank pari passu with the Company's existing issued
ordinary shares, to be admitted to trading on AIM and dealings are
expected to commence at 8:00 a.m. on 11 December 2018.
Following the issue of the Placing Shares, the Company's total
issued share capital will comprise 635,810,969 Ordinary Shares.
Following admission, the Company's share capital and total voting
rights will comprise 635,810,969 Ordinary Shares and the Company
does not hold any shares in treasury.
Consequently, the above 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
under the Company's Constitution.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com / Soltan Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Gable Communications Limited Joint Broker
Justine James / John Bick SVS Securities Plc
+44 (0) 20 7193 7463 Tom Curran / Ben Tadd
mosman@gablecommunications.com +44 (0) 203 700 0078
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail on the director's share dealing.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. John Barr
2. Andy Carroll
--------------------------------- ----------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------------------
a) Position/status: 1. Chairman
2. Technical Director
--------------------------------- ----------------------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ----------------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------------
a) Name: Mosman Oil and Gas Limited
--------------------------------- ----------------------------------------------------------
b) LEI: 213800PWZID9URNNGZ54
--------------------------------- ----------------------------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
---------------------------------------------------------------------------------------------
a) Description of the financial Ordinary shares of no par value
instrument, type of instrument: and options over ordinary shares
Identification code: AU0000XINET1
--------------------------------- ----------------------------------------------------------
b) Nature of the transaction: Purchase of new ordinary shares
shares
--------------------------------- ----------------------------------------------------------
c) Price(s) and volume(s): New ordinary shares Price(s) Volume(s)
1. 0.275p 20,000,000
20,000,000
2. 0.275p
Options over ordinary shares Price(s) Volume(s)
1. 0.4p 10,000,000
10,000,000
2. 0.4p
--------------------------------- ----------------------------------------------------------
d) Aggregated information: New Ordinary Shares Price(s) Volume(s)
Aggregated volume: 0.275p 40,000,000
Price: -----------
Options over Ordinary Shares Price(s) Volume(s)
0.4p 20,000,000
-----------
--------------------------------- ----------------------------------------------------------
e) Date of the transaction: 5 December 2018
--------------------------------- ----------------------------------------------------------
f) Place of the transaction: Outside of trading venue
--------------------------------- ----------------------------------------------------------
**ENDS**
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END
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