Canadian Overseas Petroleum Limited Announces Expected Admission to Trading in London of Placing Shares Issued to Directors, Employees and Advisors
Canadian Overseas Petroleum Limited Announces Expected Admission to Trading in London of Placing Shares Issued to Directors, Employees and Advisors
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Calgary, Alberta (FSCwire) - Canadian Overseas Petroleum Limited ("COPL" or the "Company") (TSX-V: XOP) (LSE: COPL), has made an application for the admission (the "New Shares Admission") to the standard listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities, of 68,090,113 common shares of no par value in the capital of the Company (the "New Shares"). New Shares Admission is expected to become effective at 8:00 am (London time) on September 19, 2018, with respect to 59,134,890 New Shares and on September 20, 2018 with respect to the remaining New Shares.
The New Shares comprise (i) the previously announced placing to directors and employees of the Company totalling 41,310,913 New Shares priced at £0.00335 per share for proceeds to the Company of approximately £138,000 and (ii) 26,779,200 New Shares issued in respect of services provided to the Company in connection with the Common Share Offering completed on August 31, 2018.
All New Shares issued will be subject to a four month trading hold period through the facilities of the TSX-V, pursuant to applicable securities laws and the policies of the TSX-V.
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Source: Canadian Overseas Petroleum Limited (TSX Venture:XOP, LSE:COPL)
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