Canadian Overseas Petroleum Ltd: Admission to Trading in London of Shares
FOR: CANADIAN OVERSEAS PETROLEUM LTD
TSX VENTURE SYMBOL: XOP
LSE SYMBOL: COPL
Date issue: June 12, 2017
Time in: 2:00 AM e
Attention:
CALGARY, AB–(Marketwired – June 11, 2017) – Canadian Overseas Petroleum Ltd
(TSX VENTURE: XOP) (LSE: COPL)
Canadian Overseas Petroleum Limited
(the “Company”)
Admission to Trading in London of Shares
Calgary, Canada, 12 June 2017 – Further to the announcement on 9 June, 2017,
Canadian Overseas Petroleum Limited (“COPL” or the “Company”) (TSX-V: XOP)
(LSE: COPL), announces 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 757,066,868 common
shares of no par value in the capital of the Company (“New Common Shares”). New
Shares Admission is expected to become effective at 8:00 a.m. (London time)
today, 12 June, 2017.
The New Common Shares (via Depositary Interests through CREST) will be freely
transferable on the main market of the London Stock Exchange. However, there is
a temporary restriction on the transfer of such New Common Shares, such that
such shares cannot be transferred through CREST to the Company’s Canadian share
register for a period of four months and one day from the date the shares are
issued.
The Company will be required by the TSX-V, as a condition of its continued
listing on such exchange, to consolidate the issued and outstanding common
shares in the capital of the Company (the “Common Shares”) within six months
(the “Consolidation”) on the basis of one post-Consolidation Common Share for
no less than six pre-Consolidation Common Shares. The Company received
shareholder approval for the Consolidation at its annual general meeting of
shareholders held on 6 June 2016.
In connection with the 650,000,000 New Common Shares issued pursuant to the
placing announced on 25 May 2017 (“Brokered Offering”), the Company paid a
commission to Shore Capital Stockbrokers Limited (“SCS”) of 6% of the gross
proceeds of the Brokered Offering. The Company also issued to SCS an aggregate
of 39,000,000 warrants to subscribe for new Common Shares (“Broker Warrants”),
with an exercise price of £ 0.005 per Broker Warrant for a period of 24
months from today.
Click on, or paste the following link into your web browser, to view the
associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7709H_1-2017-6-12.pdf
– END RELEASE – 12/06/2017
For further information:
RNS
Customer Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com
COMPANY:
FOR: CANADIAN OVERSEAS PETROLEUM LTD
TSX VENTURE SYMBOL: XOP
LSE SYMBOL: COPL
INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20170612CC0002
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