23rd Oct 2009 16:49
Max Petroleum Plc
(the "Company")
Holdings in Company
23 October 2009
On 23 October 2009, the Company received notification that, as of 21 October 2009, Sandell Asset Management Corp. ("Sandell"), on behalf of Castlerigg Master Investments Ltd., held directly and indirectly a beneficial interest in 32,688,302 ordinary shares in the Company ("Ordinary Shares") consisting of 1,198,000 Ordinary Shares, convertible bonds held in the Company, which are convertible into 27,850,302 Ordinary Shares at a conversion price of 35p per share at a fixed USD/GBP exchange rate of $1.49 to £1 and a warrant entitling it to acquire a further 3,640,000 Ordinary Shares at an exercise price of 5p per share.
If these convertible bonds and warrants were exercised (and assuming no other convertible bonds, warrants or options in the Company were exercised) the resulting holding of Sandell would represent 7.5% of the then issued share capital of the Company. The Company currently has 403,113,672 Ordinary Shares in issue.
Enquiries:
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Max Petroleum Plc |
Michael Young President and Chief Financial Officer |
Tel: +44 (0)20 7355 9590 |
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Vice President Investor Relations and Business Development |
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Merlin PR |
Tom Randell / Anca Spiridon |
Tel: +44 (0)20 7653 6620 |
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WH Ireland Ltd |
Daniel Bate |
Tel: +44 (0)161 832 2174 |
Related Shares:
MXP.L