24th Feb 2023 11:39
(Alliance News) - Canadian Overseas Petroleum Ltd on Friday said it issued 20.4 million new shares to settle payments to bondholders.
The Wyoming, US-focused oil and gas company said the share settlement option exercised by certain bondholders was for around USD1.7 million in conversion payment amounts.
The share issue regards two converted bonds maturing in 2024 and 11 converted bonds maturing in 2025.
It said applications will be made to the UK Financial Conduct Authority to admit these shares in London within the next 12 months.
Following the issue of these shares, Canadian Overseas now has 313.1 million shares issued.
Shares in Canadian Overseas were down 2.2% to 6.73 pence each in London on Friday late morning.
By Greg Rosenvinge, Alliance News reporter
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