TIDMMSMN

RNS Number : 1129X

Mosman Oil and Gas Limited

31 December 2021

The following revision has been made to correct the resulting issued share capital in RNS No 0631X released on 30 December 2021:

If the resolution for a share consolidation is passed, the number of Shares on issue in the Company will reduce by a factor of 100:1, which equates to a resulting issued share capital of 38,451,381.

31 December 2021

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Notice of Annual General Meeting

Proposed Share Consolidation

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, confirms that the Notice of Annual General Meeting has been sent to shareholders today.

The Annual General Meeting will be held at 10.00am (AEDT) on 28 January 2022 at Suite 305, Level 3, 35 Lime Street, Sydney NSW 2000 Australia.

The Notice of Meeting details two Resolutions which include a notice of an intended share consolidation on the terms and indicative timetable as per the explanatory memorandum attached to the Notice of Meeting.

Proposed Share Consolidation

Mosman is proposing to conduct a consolidation to reduce the number of Shares on issue in the Company to a number more appropriate, and to better align the Company's trading price to an amount that is broadly comparable to its peer group of companies.

The Company currently has 3,845,138,052 Shares on issue and as at 29 December 2021 was last traded at 0.085 of 1 pence per Share.

If the resolution for a share consolidation is passed, the number of Shares on issue in the Company will reduce by a factor of 100:1, which equates to a resulting issued share capital of 38,451,381.

As the share consolidation applies equally to all Shares and Shareholders, all shareholdings will be reduced in the same ratio as the total number of shares (subject to the rounding of fractions) and accordingly there will be no material effect on the percentage interest of each Shareholder in the Company. Similarly, the aggregate value of each Shareholder's holding and the Company's market capitalisation will not, in principle, change as a result of the consolidation.

The Company will make a further announcement in respect of the number of shares on issue as a result of fractional shares (if applicable) being rounded up following the Share Consolidation.

Indicative Timetable

 
 Date               Detail 
 30 December 2021   Announcement of AGM and share consolidation 
                   --------------------------------------------------- 
 25 January 2022    Application to London Stock Exchange for admission 
                     of consolidation shares to replace current shares 
                   --------------------------------------------------- 
 28 January 2022    AGM and approval of shareholders for consolidation 
                     6.00pm UK time: record date for consolidation 
                   --------------------------------------------------- 
 31 January 2022    Estimated consolidation effective date and trading 
                     on AIM of the consolidated shares commences 
                   ---------------------------------------------------

AGM Attendance

Mosman's priority is the health and wellbeing of its team and shareholders and as a result of the current measures, shareholders who are not able to attend the AGM, are strongly encouraged to submit their votes by proxy as soon as possible.

The Explanatory Memorandum and Proxy Forms are available on the Company's website: www.mosmanoilandgas.com

Enquiries:

 
 Mosman Oil & Gas Limited            NOMAD and Joint Broker 
  John W Barr, Executive Chairman     SP Angel Corporate Finance LLP 
  Andy Carroll, Technical Director    Stuart Gledhill / Richard Hail 
  jwbarr@mosmanoilandgas.com          / Adam Cowl 
  acarroll@mosmanoilandgas.com        +44 (0) 20 3470 0470 
 Alma PR                              Joint Broker 
  Justine James / Joe Pederzolli        Monecor (London) Ltd 
  +44 (0) 20 3405 0205                  trading as ETX Capital 
  +44 (0) 7525 324431                   Thomas Smith 
  mosman@almapr.co.uk                   +44 (0) 20 7392 1432 
 
 
 
 Updates on the Company's activities are regularly posted on its 
 website: www.mosmanoilandgas.com

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NOAURSRRABUUOUA

(END) Dow Jones Newswires

December 31, 2021 02:00 ET (07:00 GMT)

Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Mosman Oil And Gas Charts.
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Mosman Oil And Gas Charts.