www.petromatad.com
Petro Matad is the parent company of a group focused on oil exploration, as well as future development and production in Mongolia. The Group’s principal asset is the Production Sharing Contract (PSC) over Matad Block XX, a petroleum block with an area of 14,250km2 in the far eastern part of Mongolia, near the Chinese border. Recently the company signed two more Production Sharing Contracts on Bogd Block IV and Ongi Block V, a total of approximately 71,000km² in central Mongolia. Petro Matad Limited’s shares were admitted to trading on AIM, London Stock Exchange, on May 1st, 2008. The company’s largest shareholder is Petrovis LLC, the largest importer and distributor of petroleum products in Mongolia. The company is the first substantially Mongolian owned company to have its shares admitted to trading on any major international stock exchange.
RNS Release - Issue of Equity and Directors Holding
Petro Matad Limited
("Petro Matad" or the "Company")
Issue of Equity and Director's Holding
Issue of equity
Petro Matad announces that 83,410 ordinary shares of US$0.01 each (the "Performance Shares") were issued today under the Company's Long Term Equity Incentive Plan (the "Incentive Plan") based on length of service. The 83,410 Performance Shares were issued, under the terms of the Incentive Plan, at nominal value.
The Company also announces that 5,000 ordinary shares (the "Option Shares") were issued today as a result of the exercise of options held by employees under the Incentive Plan. The Option Shares were issued at an exercise price of 11 pence per share.
Following the issue of the Performance Shares and the Option Shares, Petro Matad will have 184,565,284 shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 184,565,284.
Director's Holding
Petro Matad announces that Clyde Evans, a director of the Company, has transferred 200,000 ordinary shares of US$0.01 each to Sunshore Enterprises Pty Ltd ("Sunshore"), a company of which he is a controlling shareholder. Following this transfer, Clyde Evans continues to hold 4,182,377 shares in the Company, representing 2.27% of the Company, which are held directly and through Sunshore and the Evans Family Superannuation Fund.
About Petro Matad Limited
Petro Matad is the parent company of a group focussed on oil exploration, as well as future development and production in Mongolia. The Group holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. The principal asset is the PSC for Block XX, a petroleum block of 10,340 km² in the far eastern part of the country. The two other Blocks, IV and V are located in central Mongolia. Block IV covers approximately 29,000 km² and Block V covers 21,150 km².
Petro Matad Limited is incorporated in the Isle of Man under company number 1483V. Its registered office is at Victory House, Prospect Hill, Douglas, Isle of Man, IM1 1EQ.
Further information:
Petro Matad Limited
Douglas J. McGay - CEO
+976 11 331099
Westhouse Securities Limited
Richard Baty/Petre Norton
+44 (0)20 7601 6100
This information is provided by RNS
