23rd Nov 2009 16:22
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For immediate release |
23 November 2009 |
Leed Petroleum PLC
("Leed" or the "Company")
Result of General Meeting
The Board of Leed announces that, at the General Meeting of the Company held earlier today, all resolutions were duly passed. Accordingly, the fundraising and amendments to the Company's debt facility announced on 6 November 2009 have been completed, subject only to the admission of the 400,000,000 new ordinary shares (the "New Ordinary Shares") issued pursuant to the fundraising, to trading on AIM.
The New Ordinary Shares will rank parri passu in all respects with the existing ordinary shares in the Company. Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 08.00 a.m. on 24 November 2009. Immediately following Admission there will be a total of 676,020,767 ordinary shares in issue.
The Company has been informed that Mr. Robert Adair, Non-Executive Chairman of Leed, will hold the 4,000,000 shares he has subscribed for in the fundraising under trust arrangements in funds at Lloyd's of London. As a result, Mr. Adair will hold a total of 4,994,500 ordinary shares in the Company, representing 0.73 per cent. of the Company's issued share capital, to provide security for insurance underwriting. Mr. Adair's total beneficial interest in the ordinary shares of the Company following Admission will be 6,127,660 ordinary shares, representing 0.91 per cent. of the issued share capital.
In addition, Howard Wilson, President and Chief Executive, and Jim Slatten, Chief Operating Officer, have each informed the Company that they will hold the 2,000,000 ordinary shares they each subscribed for in the fundraising, representing 0.29 per cent. of the entire issued share capital of the Company following the fundraising, within retirement trust arrangements with Equity Trust Company. Accordingly, immediately following Admission, both Howard Wilson and Jim Slatten will each have a beneficial interest in the share capital of the Company of 5,296,600 ordinary shares representing 0.78 per cent. of the Company's issued share capital.
The interests in the issued share capital of the Company of the other directors who participated in the fundraising will, at Admission, remain the same as that disclosed in the Company's announcement dated 6 November 2009.
For further information please contact:
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Leed Petroleum PLC |
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Howard Wilson, President and Chief Executive |
+1 337 314 0700 |
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James Slatten, Chief Operating Officer |
+1 337 314 0700 |
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Matrix Corporate Capital LLP |
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Alastair Stratton |
+44 20 3206 7204 |
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Tim Graham |
+44 20 3206 7206 |
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Brewin Dolphin |
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Alexander Dewar |
+44 131 529 0276 |
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Buchanan Communications Ltd |
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Ben Willey |
+44 20 7466 5118 |
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Bobby Morse |
+44 20 7466 5151 |
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Chris McMahon |
+44 20 7466 5156 |
Related Shares:
Leed Resources