August 31, 2018 - 2:00 AM EDT
Print Email Article Font Down Font Up Charts


Canadian Overseas Petroleum Ltd Announces 3M Pounds Common Share Offering Admitted to Trading




Canadian Overseas Petroleum Ltd Announces 3M Pounds Common Share Offering Admitted to Trading



Calgary, Alberta (FSCwire) - Further to the announcement dated 17 August 2018, Canadian Overseas Petroleum Limited (the "Company") (TSXV: XOP) (LSE: COPL) announces the admission (the "New Share Admission") to the standard listing segment of the Official List maintained by the Financial Conduct Authority, and to trading on the main market for listed securities of London Stock Exchange plc (the "London Stock Exchange"), of 895,523,000 new common shares of no par value in the capital of the Company (the "New Shares"). Following the New Share Admission, the share capital of the Company will be made up of 2,418,622,350 common shares (the "Common Shares"). The New Share Admission is expected to become effective at 8:00 a.m. (London time) today, 31 August 2018.

 

The New Shares (via Depositary Interests through CREST) will be freely transferable on the main market of the London Stock Exchange. However, there is a temporary restriction on the transfer of such New Shares, in that such shares cannot be transferred through CREST to the Company's Canadian share register for a period of four (4) months and one (1) day from the date the shares are issued.

 

In connection with the New Shares issued pursuant to a placing announced on 17 August 2018 (the "Placing"), the Company paid a commission to Shore Capital Stockbrokers Limited ("SCS") of 6.0% of the gross proceeds and granted SCS 53,731,380 warrants to subscribe for new Common Shares ("Broker Warrants"), with an exercise price of 0.335 pence (£0.00335) per Broker Warrant for a period of 24 months ending at midnight on 30 August 2020.

 

As previously announced, management and insiders are expected to subscribe for common shares at the Placing price in a transaction that should close by the end of next week for an additional £100,000 of proceeds to the Company.

 

For further information, please contact:

 

Mr. Arthur Millholland, President & CEO

Canadian Overseas Petroleum Limited 

Tel: + 1 (403) 262 5441

 

Cathy Hume

CHF Investor Relations

Tel: +1 (416) 868 1079 ext. 231

Email: [email protected]

 

Harriet Jackson/Charles Goodwin

Yellow Jersey PR Limited

Tel: +44 (0) 75 4427 5882

Email: [email protected]

 

Broker: London Stock Exchange

Shore Capital Stockbrokers Limited

Edward Mansfield
Phone: T: +44 20 7468 7906

 

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/3326Z_1-2018-8-30.pdf

 

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.

 

END



To view the associated document to this release, please click on the following link:
public://news_release_pdf/canadianoverseas08312018.pdf



Source: Canadian Overseas Petroleum Limited (TSX Venture:XOP, LSE:COPL)

To follow Canadian Overseas Petroleum Limited on your favorite social media platform or financial websites, please click on the icons below.


 

Maximum News Dissemination by FSCwire. https://www.fscwire.com

 
 

Copyright © 2018 FSCwire






Source: FSCwire (August 31, 2018 - 2:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice