18th Oct 2023 16:15
Arrow Exploration Corp - oil and gas company with projects in Colombia and Canada - Announces the exercise of warrants by its largest shareholders and management. Explains the warrants were issued in conjunction with the fourth quarter 2021 financing and had an exercise price of GBP0.09 per share. The company's largest shareholder, Canacol Energy Ltd, has exercised 18.4 million warrants and now holds around 21% of Arrow's share capital. It intends to hold its current interest. Tim Leslie, has exercised 10.2 million warrants and now holds a 6.3% stake in the company.
Senior management have exercised warrants and have the resulting stakes in Arrow: Chair Gage Jull holds 2.1%, Chief Executive Marshall Abbot 1.9% and Chief Financial Officer Joe McFarlane 2.0%.
Current stock price: 18.65 pence
12-month change: up 5.1%
By Jeremy Cutler, Alliance News reporter
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