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.
Following the issue of the new shares, Petro Matad will have 186.7m shares in issue.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
MF
-
How to invest in nuclear powerWe need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
-
Chase slashes its easy-access savings rate – is it time to switch?The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
