Predator Oil & Gas Holdings plc has issued 3,866,090 new ordinary shares, at 3.35 pence per share, to its chief executive officer Paul Griffiths to settle a portion of outstanding loans.
Mr Griffiths is owed £323,785 from the capitalisation of his loans in May 2023, which is detailed as a current liability in the company’s financial statement for 2025.
The sum was originally payable on either a flow rate of one million cubic feet of gas per day (MMcf/d) achieved from any gas well on its Guercif licence, onshore Morocco, or a flow rate of 100 barrels of oil per day (bopd) from any well in its operations in Trinidad.
Predator today said it would settle 40% (£129,514) of the liability, through the issue of shares to Mr Griffiths.
The remaining 60%, equal to £194,271, will be payable upon the earlier of a stabilised flow rate of more than 3MMcf/d gas from the MOU-6 well at Guercif, or an oil rate higher than 200 bopd from the Snowcap-3 well in Trinidad.
Following admission, the company’s issued share capital will comprise 904,438,190 ordinary shares, of no par value, each with one vote and none held in treasury.