Issue of Equity and Total Voting Rights
17 April 2015
Issue of Equity and Directors' Dealings
Further to the announcements of 19 July 2013 and 7 May 2014, Petro Matad announces that it has issued 5,750,946 new ordinary shares of US$0.01 each ("New Shares") under the Company's Long Term Equity Incentive Plan (the "Plan"), of which 2,868,213 New Shares have been issued to directors of the Company. The New Shares have been issued, under the terms of the Plan, at nominal value.
Changes to Directors' Holdings
The below table sets out the Directors' shareholdings following the issue of the New Shares:
Percentage
New Shares holding
being issued of enlarged
Previous under the Resultant issued
Director shareholding Plan shareholding share capital
------------------- -------------- -------------- -------------- ---------------
Oyungerel
Janchiv* 18,308,686 498,380 18,807,066 6.59%
------------------- -------------- -------------- -------------- ---------------
Enkhmaa Davaanyam 3,891,640 498,380 4,390,020 1.54%
------------------- -------------- -------------- -------------- ---------------
Philip Vingoe 500,000 498,380 998,380 0.35%
------------------- -------------- -------------- -------------- ---------------
Amarzul Tuul 472,500 58,834 531,334 0.19%
------------------- -------------- -------------- -------------- ---------------
John Henriksen 263,030 557,198 820,228 0.29%
------------------- -------------- -------------- -------------- ---------------
Ridvan Karpuz 690,788 757,041 1,447,829 0.51%
------------------- -------------- -------------- -------------- ---------------
*Dr Oyungerel Janchiv, a director of Petro Matad, controls more than 20% of Petrovis Matad Inc. ("Petrovis"), her direct holding in Petro Matad of 18,807,066 ordinary shares is, for disclosure purposes, aggregated with that of Petrovis under the AIM definition of director's family. The aggregated holding of Dr Oyungerel and Petrovis is 110,991,328 ordinary shares representing 38.91 per cent. of the Company's enlarged issued share capital.
Application has been made for the 5,750,946 New Shares to be admitted to trading on AIM and it is anticipated that this will occur on or around 23 April 2015.
Total Voting Rights
Following the issue of the New Shares, Petro Matad will have 285,238,225 ordinary shares in issue, which will also represent the total number of voting rights in the Company. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Concert Party
Following the issue of the New Shares to Oyungerel Janchiv and Enkhmaa Davaanyam, the Petrovis Group (being Petrovis, its underlying shareholders and their family members) will hold 143,053,562 ordinary shares, representing 50.15 per cent. of the Company's enlarged issued share capital.
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. At the current time, Petro Matad holds the sole operatorship of three Production Sharing Contracts with the Government of Mongolia. Block XX has an area of 10,340 km(2) in the far eastern part of the country, and Blocks IV and V have an area of 28,900 km2 and 21,100 km2, respectively, in the southwest part of the country.
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.
