15th Nov 2018 07:02
15 November 2018
Phoenix Global Resources plc
("Phoenix" or the "Company")
Neuquén Licences
Further to the announcement on 19 September 2018, Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream oil and gas company, which offers its investors exposure to Argentina's Vaca Muerta shale formation and other unconventional resources, announces that it has exercised the option to settle the final instalment of the payment due under the compensation agreement reached with Integra Oil & Gas S.A. ("IOG") in relation to the Mata Mora and Corralera exploration concessions, by allotting and issuing 25,000,000 new ordinary shares ("New Ordinary Shares") of nominal value of 10 pence each ("Ordinary Shares") to IOG at a price of 45 pence per share in lieu of cash.
Application has been made for admission of the New Ordinary Shares to trading on AIM and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 21 November 2018. The New Ordinary Shares will rank pari-passu with the Company's existing issued ordinary shares.
Following admission of the New Ordinary Shares, the total number of Ordinary Shares in issue will be 2,786,644,709. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Ends
For further information, please contact:
Phoenix Global Resources plc | Anuj Sharma, CEO Kevin Dennehy, CFO | T: +54 11 5258 7500
|
Stockdale Securities |
Antonio Bossi Ed Thomas |
T: +44 20 7601 6100 |
Panmure Gordon |
Adam James Charles Lesser |
T: +44 20 7886 2500 |
Camarco |
Billy Clegg Owen Roberts James Crothers |
T: +44 20 3757 4980 |
About Phoenix
Phoenix Global Resources is a London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR) listed independent Argentina focused oil and gas exploration and production company. The Company has over 6.3 million licenced working interest acres in Argentina (of which over 5 million are operated), 57.2 million boe of working interest 2P reserves and average production of approximately 11,070 working interest boepd in 2017. Phoenix has significant exposure to the unconventional opportunity in Argentina through its more than 560,000 working interest acres with Vaca Muerta potential.
The Company's website is www.phoenixglobalresources.com
Related Shares:
PGR.L