Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Eland Oil & Gas: Helios converts non-voting shares

Helios will subsequently hold 44.2mln ordinary shares, representing 29.5% of Eland.
Eland Oil & Gas: Helios converts non-voting shares
It retains 5.38mln non-voting shares.

Eland Oil & Gas (LON:ELA) has told investors that Helios Natural Resources has made a request to convert some of its non-voting shares into ordinary shares.

Some 4.6mln of its holding of the shareholder’s 10mln non-voting shares will be converted, Eland said.

Helios will subsequently hold 44.2mln ordinary shares, representing 29.5% of Eland.

The non-voting shares were issued to Eland in 2014, and they are convertible on a one-to-one basis. Helios can only convert the non-voting shares so long as doing so doesn’t cause its holding of ordinary shares to reach or exceed 30% of the company.

Jamie_55a91591db06b.jpg
Why Invest In Eland Oil & Gas PLC? Read More Here

Register here to be notified of future ELA Company articles
View full ELA profile View Profile

Eland Oil & Gas PLC Timeline

Related Articles

trader celebrating
August 26 2016
San Leon is issuing new shares at 45p which is a 54% premium to the last price before trading was suspended in January.
One of Iofina's plants in Oklahoma where it produces iodine from brine water taken as by product from oil fields
April 11 2017
A recent debt deal and the prospect of improving markets bode well for the AIM group's continuing recovery
Offshore oil operations, North Sea
September 29 2016
Jersey continues to “work actively” on a number of opportunities in the UK, which it expects will lead to the acquisition of producing oil and gas assets in the near future.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use