5 November 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
Notice of AGM and posting of
Annual Report
Mosman Oil and Gas Limited (AIM:
MSMN) the helium, hydrogen and hydrocarbon exploration,
development and production company, confirms its AGM will be held
at 12:00pm (AEDT) on 29 November 2024 at 24-26 Kent Street, Millers
Point NSW 2000, Australia.
Mosman's Annual Report and Notice of
Annual General Meeting (AGM) has been sent to shareholders and can
be viewed and downloaded at www.mosmanoilandgas.com/investor-centre.
Ratification of Director Placement
Participation
As well as the normal business
conducted at the AGM, resolutions have been proposed to approve the
director participation in the placing announced on 16 September
2024 ("Placing").
The Company previously indicated
that two Directors (Messrs Carroll and Harvey) intended to support
the Placing on the same terms as the Placing participants which
would increase the size of the Placing by £15,000 to £1.5m if
approved by shareholders (the "Directors Subscription").
Shareholder approval is required for
Director participation in any capital raising in order for the
Company to comply with its statutory obligations
under the Corporations Act 2001 (Cth) in
Australia.
Two resolutions are being put
forward in the AGM in connection with this participation
being:
Resolution 2 and 3 - Participation
of Executive Director and CEO Andy Carroll and Non-Executive
Chairman Mr Nigel Harvey to each subscribe for up to £7,500
(AU$14,700) alongside the Placing (up to 21,428,572 shares
each).
Related Party Transaction
As Andy Carroll and Nigel Harvey are
Directors of the Company, they are considered to be Related Parties
of the Company as defined under the AIM Rules for Companies (the
"AIM Rules") and the
proposed Director Subscriptions set out above, are considered to be
Related Party Transactions pursuant to Rule 13 of the AIM
Rules.
Carl Dumbrell, being the Director
independent from the Director Subscriptions, considers, having
consulted with the Company's Nominated Adviser, SP Angel Corporate
Finance LLP, that the proposed terms of the Director Subscriptions
are fair and reasonable insofar as the Company's Shareholders are
concerned.
Proposed Share option award
In addition to the above matter the
Board is proposing a new award of share options to the Company's
CEO, Andy Carroll with full details being set out in the notice of
AGM and accompanying explanatory memorandum.
Enquiries:
|
Mosman Oil & Gas Limited
Andy Carroll
CEO
acarroll@mosmanoilandgas.com
|
NOMAD and Joint Broker
SP Angel Corporate Finance
LLP
Stuart Gledhill / Richard Hail /
Adam Cowl
+44 (0) 20 3470 0470
|
|
Alma
Justine James / Will
Merison
+44 (0) 20 3405 0205
mosman@almastrategic.com
|
Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
|
Updates on the Company's activities
are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is a helium,
hydrogen and hydrocarbon exploration, development, and production
company with projects in the US and Australia. Mosman's strategic
objectives remain consistent: to identify opportunities which will
provide operating cash flow and have development upside, in
conjunction with progressing exploration. The Company has several
projects in the US, in addition to exploration projects in the
Amadeus Basin in Central Australia.
