Cadogan Petroleum Issue of Equity

 
TIDMCAD 
 
26th May 2020 
 
This announcement contains inside information as defined under the Market Abuse 
Regulations n. 596/2014 
 
                             Cadogan Petroleum Plc 
                         ("Cadogan" or the "Company") 
 
                                Issue of Equity 
 
Cadogan Petroleum plc ("Cadogan" or the "Company") announces that it has issued 
8,399,165 Ordinary shares of GBP0.03 each, ("New Ordinary Shares") in the capital 
of the Company for cash on the basis of GBP0.03 per share. 
 
2,270,549 ordinary shares are being issued to the previous CEO, Mr Guido 
Michelotti, to be  satisfied in full using the entire amount of the 2018 and 
2019 bonuses due (but which had not yet been paid), totalling EUR75,900. 
 
628,616 ordinary shares are being issued to Mr Andriy Bilyy (General Director 
of Cadogan Ukraine), to be  satisfied in full using the entire amount of the 
2019 bonus due (but which had not yet been paid), totalling $23,040. 
 
5,500,000 ordinary shares are being issued to the CEO, Mr Fady Khallouf, to be 
satisfied in full using the entire amount of the welcome bonus due. 
 
The Company confirms that each of Mr Guido Michelotti, Mr Andriy Bilyy and Mr 
Fady  Khallouf have agreed to fund the income tax due on the bonuses from their 
own resources.  Therefore there is no immediate need for any of the above 
shares to be sold to fund the tax liability arising on the bonuses.  Also, as a 
consequence, there will be no cash outflow for the Company arising from the 
award of the bonuses, with the exception of any related social security 
contributions that fall due following the payment of the bonuses.  In addition, 
Mr Fady Khallouf has undertaken not to sell the shares for a period of two 
years from the date of subscription. 
 
Full details of the bonus payments for Mr Fady Khallouf and Mr Guido Michelotti 
are set out within the 'Annual Report on Remuneration' in the Company's 2019 
Annual Financial Report. 
 
Application has been made for the new Ordinary Shares to be admitted to trading 
on the London Stock Exchange (the "Admission"), and dealings in the new 
Ordinary Shares are expected to commence on or around 2nd June 2020. 
 
Following the issue of the New Ordinary Shares the total number of Ordinary 
Shares in issue is 244,128,487. There are 66 Ordinary Shares held in treasury. 
Therefore, the total number of voting rights in the Company is 244,128,421. 
This figure may be used by shareholders in the Company as the denominator for 
the calculations by which they will determine if they are required to notify 
their interest in, or a change to their interest under the Disclosure and 
Transparency Rules. 
 
About 
 
Cadogan is an independent, diversified oil and gas company, which operates 
exploration and production licenses in Western Ukraine, conducts gas trading 
operations, and provides services to E&P companies. 
 
For further information, please contact: 
 
Cadogan Petroleum plc 
Fady Khallouf                     Chief Executive Officer 
fady.khallouf@cadoganpetroleum.com 
Ben Harber                        Company Secretary          +44 0207 264 4366 
 
Cantor Fitzgerald Europe       Broker to Cadogan Petroleum plc 
 
David Porter                                                                +44 
(0) 20 7894 7000 
 
Appendix 
 
The notifications detailed above and summarised in the table below is made in 
accordance with the requirements of the EU Market Abuse Regulations as follows: 
 
Fady Khallouf, CEO purchased 5,500,000 shares at GBP0.003 pence per share on 22nd 
May 2020. 
 
1.  Details of PDMR/ person closely associated with them ('PCA') 
 
a)  Name                         Fady Khallouf 
 
2.  Reason for the notification 
 
a)  Position/status              Chief Executive Officer 
 
b)  Initial notification /       Initial notification of purchase of shares 
    Amendment 
 
3.  Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)   Name                        Cadogan Petroleum plc 
 
b)  LEI                          213800JIBKL29FAK1213 
 
 
4.  Details of the transaction(s): section to be repeated for (i) each type of 
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each 
    place where transactions have been conducted 
 
    Description of the financial Ordinary shares of 3 pence each 
    instrument, type of 
    instrument 
 
    Identification code          GB00B12WC938 
 
b)  Nature of the transaction    Purchase of ordinary shares 
 
c)  Price(s) and volume(s)       Price(s) 
                                 Volume(s) 
 
                                 GBP0.03 
                                 5,500,000 
 
d)  Aggregated information 
 
 
                                 5,500,000 
 
                                 GBP0.03 
 
e)  Date of the transaction      22nd May 2020 
 
f)  Place of the transaction     XLON 
 
Andriy Bilyy, General Director of Cadogan Ukraine purchased 628,616 shares at GBP 
0.03 pence per share on 22nd May 2020. 
 
1.  Details of PDMR/ person closely associated with them ('PCA') 
 
a)  Name                         Andriy Bilyy 
 
2.  Reason for the notification 
 
a)  Position/status              General Director 
 
b)  Initial notification /       Initial notification of purchase of shares 
    Amendment 
 
3.  Details of the issuer, emission allowance market participant, auction 
    platform, auctioneer or auction monitor 
 
a)   Name                        Cadogan Petroleum plc 
 
b)  LEI                          213800JIBKL29FAK1213 
 
 
4.  Details of the transaction(s): section to be repeated for (i) each type of 
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each 
    place where transactions have been conducted 
 
    Description of the financial Ordinary shares of 3 pence each 
    instrument, type of 
    instrument 
 
    Identification code          GB00B12WC938 
 
b)  Nature of the transaction    Purchase of ordinary shares 
 
c)  Price(s) and volume(s)       Price(s) 
                                 Volume(s) 
                                 GBP0.03 
                                 628,616 
 
d)  Aggregated information 
 
 
                                 628,616 
 
                                 GBP0.03 
 
e)  Date of the transaction      22nd May 2020 
 
f)  Place of the transaction     XLON 
 
 
 
END
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