Petroneft Resources PLC Conversion of Debt (7525U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMPTR
RNS Number : 7525U
Petroneft Resources PLC
08 April 2021
April 8(th) 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
PetroNeft Resources plc
("PetroNeft" or the "Group" or the "Company")
Conversion of Debt
PetroNeft (AIM: PTR) an oil & gas exploration and production
company, operating in the Tomsk Oblast, Russian Federation, and 90%
owner and operator of Licence 67 and 50% owner and operator of
Licence 61, is pleased to provide a financing update.
Highlights
-- $156,000 of debt converted to equity under the 2019
convertible loan agreement for the issuance of 10,084,034 new
Ordinary shares.
Loan facility
PetroNeft historically entered into a convertible loan agreement
June 24(th) 2019 for US$1.3 Million with a group of five lenders.
Lenders under this agreement have the right to convert up to 65% of
the outstanding loan amount at a conversion price of US$0.01547 per
share. Three of the five lenders have already converted the maximum
amount under this agreement earlier this month.
Daria Shaftelskaya currently owns 90,670,555 ordinary shares,
with this issuance of 10,084,034 her resulting shareholding will
increase to 100,754,589 shares being 9.64% of the shares in
circulation.
The conversion of this debt to shares will result in the
outstanding debt under this agreement being reduced from $0.661
Million to $0.505 Million and will result in an increase in the
total number of issued shares in the Company from 1,035,151,353 to
1,045,235,387. The shares are being issued at a premium to the
share price on the date when the terms of the agreement were
announced.
Application will be made to the London Stock Exchange and
Euronext Dublin for the 10,084,034 PetroNeft ordinary shares to be
admitted to trading on AIM and Euronext Growth. It is expected that
admission to trading on each exchange will become effective and
that dealings in the New Ordinary Shares will commence on AIM and
Euronext Growth at 8.00 a.m. on 14 April 2021.
For further information, contact:
+44 7903 869
David Sturt, CEO, PetroNeft Resources plc 608
John Frain / Caroline Pearson, Davy (NOMAD and +353 1 679
Broker) 6363
-------------
+353 1 498
Joe Heron / Douglas Keatinge, Murray Consultants 0300
-------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CONFZGGDLNDGMZM
(END) Dow Jones Newswires
April 08, 2021 02:00 ET (06:00 GMT)
Petroneft Resources (LSE:PTR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Petroneft Resources (LSE:PTR)
Historical Stock Chart
From Apr 2023 to Apr 2024