Petro Matad has announced that it will issue 500,000 ordinary shares of 0.01 dollars each under the company's long-term equity incentive plan.
The new shares are to be issued at a nominal value, the group stated adding that an application had been made for the new shares to be admitted to AIM with the anticipated joining date set at January 31st.
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Petro Matad is the parent company of a group focussed on oil exploration in Mongolia. It holds the sole operatorship of three production sharing contracts with the government of Mongolia.
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