Columbus Energy Resources PLC – Issue of Equity

Columbus Energy Resources PLC – Issue of Equity


The Company has agreements with a limited number of contractors who provide services to the Company so that part of the relevant contractor’s fee is paid in Company shares (the “Contractor Shares”).  This has been done in accordance with the Company’s ongoing cash management strategy and, more specifically, to align the interests of the Company with the contractors who are helping it achieve its objectives.

The relevant services up to 30 June 2019 have now been provided and therefore the Company has issued 2,129,550 new ordinary shares to those contractors (the “New Contractor Shares”), representing 0.25% of the 830,881,192 ordinary shares in issue prior to the issuance of the New Contractor Shares.

The New Contractor Shares will rank pari passu in all respects with the Company’s existing ordinary shares. An application will be made for the New Contractor Shares to be admitted to trading on AIM, (“Admission”), and it is expected that Admission will become effective and that dealings will commence on or around 18 September 2019.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:

As at the date of this announcement, and after the issuance of the New Contractor Shares, the Company’s issued share capital consists of 833,010,742 ordinary shares with a nominal value of 0.05p each, with voting rights (“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 833,010,742. 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.

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