Sunda Energy plc shareholders have approved the issue of its directors’ subscription shares, and cover any future exercise of 480 million warrants, from the 17 October fundraise.
TVRs
The vote at the 10 November general meeting results in granting authorities for the issue of a total of 800 million new ordinary shares.
Chairman Gerry Aherne subscribed for 200m shares, and was granted 100m warrants.
Mr Aherne will hold 380m shares, representing 1.21% of the company’s enlarged share capital.
Chief executive officer Andy Butler subscribed for 400m shares and received 200m warrants, to hold 1,130,601,442 shares (3.59%).
Chief financial officer Rob Collins subscribed for 120m shares and received 60m warrants, increasing his shareholding to 120m (0.38%).
Non-executive directors Keith Bush and John Chessher each subscribed for 40m shares, received 20m warrants and now hold 40m and 46m shares, equal to 0.13%, 0.15%, respectively.
Sunda’s enlarged share capital will comprise 31,476,378,281 ordinary shares, with voting rights and none held in treasury.
The company is preparing to drill the Chuditch-2 well offshore Timor-Leste and initial technical evaluation work on two new Philippine service contracts.