Predator Oil & Gas Holdings Plc (LON:PRD), an oil and gas exploration company, has announced its successful placing of 46,428,600 new ordinary shares of no par value each in the Company at a Placing Price of 2.8 pence each and the Admission of its entire issued share capital, being 100,137,150 ordinary shares of no par value each, to the Standard Listing segment of the Official List and to trading on the Main Market of the London Stock Exchange. Optiva Securities and Novum Securities are acting as Joint Brokers and placing agents to the Company.
DirectorsTalk Giles Arbor caught up with CEO Paul Griffiths to talk about its successful IPO on the London AIM stock market. Paul provides a background to the company, explains why the company is focused on onshore Trinidad, its interests in offshore Ireland, its significance and the key milestones that investors can look out for over the coming months.
The Company was formed to consolidate the acquisition of a specific non-operated oil and gas business opportunity in the Republic of Trinidad and Tobago, which will generate near-term income for the Company, and an exploration and appraisal portfolio offshore Ireland that forms an existing business operated by its wholly-owned subsidiary Predator Oil and Gas Ventures Ltd.
The Company has raised gross proceeds of £1.3 million under the Placing, which will be used to facilitate its investment strategy and to provide working capital. The Placing was significantly over-subscribed.
The Prospectus published by the Company in connection with Admission is available on the Company’s website at www.predatoroilandgas.com and is also available at the FCA’s Document Storage Mechanism at http://morningstar.co.uk/uk/NSM. Hard copies of the Prospectus will also be available during normal business hours at the offices of the Company’s Joint Brokers and Placing Agents, Optiva Securities, 49 Berkeley Square Mayfair, London W1J5AZ and Novum Securities 8-10 Grosvenor Gardens, Belgravia, London SW1W 0DH.
Paul Griffiths, Predator Oil & Gas Holdings Plc Chief Executive Officer, commented: “We are delighted at the support shown by our new shareholders and welcome them to the Company. This Listing, which is the first by a junior oil and gas company in 2018, represents a new chapter for Predator Oil & Gas and we are looking forward to executing our investment strategy. We will be in a position to provide an operational update to investors on our progress in the coming weeks as preparations for drilling in Trinidad get underway and as we seek to further develop our exciting opportunities offshore Ireland.”