Egdon Announces Exercise of Warrants

Source: www.gulfoilandgas.com 6/8/2022, Location: Europe

Egdon Resources plc has received notice of the exercise of Warrants and can advise the issue of new Ordinary Shares in the Company of 1p each ("Ordinary Shares") as follows.

The Warrants
In July 2021 the Company raised 1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the "Warrant").

Exercise of Warrants and Issue of New Ordinary Shares

Application for Admission of New Ordinary Shares to AIM
An application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 14 June 2022.

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares in all respects.

Outstanding Warrants
Following the exercise of the Warrants reported above 49,499,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.

Total Voting Rights
Following admission of the new Ordinary Shares on or around 14 June 2022 the issued share capital of the Company will be 524,892,031 Ordinary Shares, each with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.


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