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Columbus Energy Res - Rule 2.9 Announcement

RNS Number : 8156T
Columbus Energy Resources PLC
23 July 2020
 

23 July 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Rule 2.9 Announcement - Total Voting Rights

Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, confirms the continuation, for the month of July 2020, of the issuance of shares to Lind in lieu of cash payments.

The Company intends to issue 7,987,143 new ordinary shares to Lind in lieu of cash payments otherwise due in July 2020 (the "Lind Shares").  Such issuance is in accordance with the Company's rights under the 2019 Facility Agreement.

The Company confirms that there have been no further issuances of Contractor Shares since the announcement on 17 June 2020.

The issuance of the Lind Shares in July 2020 was envisaged in the merger announcement made by the Company and Bahamas Petroleum Company plc on 11 June 2020 and has no effect on the exchange ratio as set out therein.

Application has been made for the Lind Shares, which will rank pari passu with existing ordinary shares, to be admitted to trading on AIM ("Admission").  Admission is expected on or around 28 July 2020.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority and Rule 2.9 of the City Code on Takeovers and Mergers, the Board of Columbus hereby notifies the market of the following:

As at the date of this announcement, and after the issuance of the Lind Shares, the Company's issued share capital will consist of 943,040,487 ordinary shares with a nominal value of 0.05p each with voting rights and with International Securities Identification Number GB00BDGJ2R22. ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.

Therefore, the total number of Ordinary Shares in the Company with voting rights is 943,040,487. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Contact Information

Columbus Energy Resources plc

Leo Koot / Gordon Stein / Tony Hawkins

+44 (0)20 7203 2039

VSA Capital Limited

Rule 3 Advisor, Financial Adviser and Broker

Andrew Monk / Andrew Raca

+44 (0)20 3005 5000

Beaumont Cornish Limited

Nominated Adviser

Roland Cornish / Rosalind Hill Abrahams

+44 (0)20 7628 3396

 

 


Notes to Editors:

Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, two appraisal/development project and a highly prospective exploration, appraisal and development portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has an onshore appraisal/development project. Columbus aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner.    

Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible.

The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business. 

To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Columbus Energy Resources PLC

Price: 1.825

Market: AIM
Market Cap: £17.21 m
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