Correction : Director Subscription Under the Placing

MAYAN ENERGY LIMITED - Correction : Director Subscription Under the Placing

PR Newswire

London, September 6

The following announcement replaces the announcement “Director Subscription Under the Placing” released at 10.35 on 2 September 2016. The reference in the table of that previous announcement to “Price(s) and volume(s) of 0.15p” was incorrect and has been replaced with “Price(s) and volume(s) of 0.015p”. In addition investors should note that the Admission date for the 333,333,333 new Ordinary Shares is now expected on 12 September 2016. All other text remains the same. The full text of the amended announcement is set out below:

2 September 2016

 Mayan Energy Ltd (formerly Northcote Energy Ltd)

 (‘Mayan’ or ‘the Company’)

Subscription under the Placing

Director/PDMR Holding

TVR

Further to the announcement of 2 September 2016,Mayan Energy Limited is pleased to announce that Heriberto (‘Eddie’) Gonzalez Jr., Chief Executive Officer, has today subscribed for 333,333,333 new ordinary shares in the Company on the same terms as the Placing (the “Shares”), that is at 0.015p per Share. This brings the total amount raised under the Placing to £550,000.

Application will be made for the Shares, which will rank pari passu with the existing ordinary shares, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings will commence on or around 12 September 2016.

Following the issue of the Shares, Mr Gonzalez’s total holding will comprise of 333,333,333 ordinary shares in the Company, representing 0.02% of the enlarged issued share capital.

The enlarged issued share capital of the Company will consist of 13,898,253,603 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 13, 898,253,603.

In addition the Company confirms that it has now issued certain directors and management 2,060,000,000 options to subscribe for ordinary share on the terms and further described in the announcement of 1 September 2016.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.

**ENDS**

For further information visit www. northcoteenergy.com or contact the following: