Angus Energy PLC has announced that it will settle its March 2024 royalty or Overriding Royalty Interest (ORRI) payments on Saltfleetby Field production in shares. The company will issue a total of 27,448,470 Ordinary Shares to the ORRI holders at a price of 0.3544 pence each, representing a value of £97,277.07. Application has been made for the admission of the ORRI Shares to trading on AIM, and it is expected that admission will become effective and dealings in the ORRI Shares will commence at 8.00 a.m. on 15 April 2024.
Following the issue of the ORRI Shares, the Company will have 4,421,854,810 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The above figure of 4,421,854,810 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information on the Company, please visit www.angusenergy.co.uk or contact the relevant parties listed in the announcement. The announcement also includes disclaimers regarding forward-looking statements, emphasizing that they involve risks and uncertainties and are not guarantees of future performance. Any forward-looking statements made in the announcement speak only as of the date of such statement, and the company is not obliged to update such statements unless in accordance with legal or regulatory obligations.