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

Eland Oil & Gas PLC Timeline

Related Articles

8746565923_3c8b3fa542_o_opt.jpg
October 23 2015
History tells us success is often forged from adversity. Take, for example, the early noughties, when Brent was trading well below its current level. We saw the emergence of a number of entrepreneurial mid-caps, which took advantage of the downturn to pick assets on the cheap. Will the contrarians win this time round? Jersey Oil & Gas hopes so.
picture of gas facility
September 08 2016
GDC is currently the only supplier of natural gas to Douala, Cameroon’s rapidly growing second city
oil_platform_1_56fbbfac1a66e.png
March 30 2016
Only a select group of explorers have active drill programmes, but, those with high impact potential at little or no cost are even rarer still.

© Proactive Investors 2016

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.