Predator Oil & Gas Holdings Plc issues a convertible loan note to raise £1.5 million
Following the standard listing on the Main Market of the London Stock Exchange in May, publically listed client Predator Oil & Gas Holdings (Predator) have announced that they have issued a convertible loan note instrument to Arato Global Opportunities LLC (the Lender). The net proceeds of the loan notes will be used to fund a returnable bank guarantee to be put in place in relation to their exclusive licence for hydrocarbon exploration and appraisal onshore northern Morocco by the Office National des Hydrocarbures et des Mines (ONHYM) . The formal award of the exclusive licence is subject to the provision by Predator of this bank guarantee, prior to a formal signing ceremony.
Charles Russell Speechlys advised oil & natural gas producer Predator, on their standard listing in May 2018 which was described as “an important milestone for the group” by CEO, Paul Griffiths and on their issue of the convertible loan note to the Lender in February 2019. The listing was the first oil and gas IPO on London’s junior markets in 2018.
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