IN BRIEF: Predator Oil & Gas execs sell shares to give loan to company
28th Jun 2023 14:51
Predator Oil & Gas Holdings PLC - oil and gas operations in Morocco, Trinidad and Ireland - Executive Chair Paul Griffiths sells 17.5 million shares and Managing Director Lonny Baumgardner sells 500,000, and they loan the proceeds to the company. The shares are placed by Novum Securities Ltd at 10.5 pence each, raising a total of GBP1.9 million gross. Predator explains the transaction is arranged, because it doesn't have sufficient headroom to issue new shares without producing a UK Financial Conduct Authority-approved prospectus. The loans will carry a 4% interest rate and will be repaid in shares once Predator is able to do so. The money will be used to progress the drilling of the MOU-4 well in Morocco. Read More