Calgary, Canada & London, United Kingdom, December 30, 2020 - Canadian Overseas Petroleum Limited ( COPL or the Company ) (XOP: CSE) & (COPL: LSE), an international oil and gas exploration and development company focused on sub-Sahara Africa, today announces that: · COPL has closed a non-brokered private placement of Units with institutional investors, family office, high net worth private investors, the Company s Chief Executive Officer and Directors (the Investors ) to raise gross proceeds of £6,000,000 (the Placing ) at a price of 0.2 pence per Unit (the Placing Price ) with each Unit consisting of one common share of no par value in the capital of the Company (each a Common Share ) and one half of one warrant, each whole warrant entitling the holder to purchase a Common Share at 0.26 pence for 12 months from the settlement date of the Placing (each a Purchase Warrant ).
Second Price Monitoring Extension
A second and final Price Monitoring Extension has been activated in this security. The auction call period is extended in this security for a further 5 minutes.
Following the first price monitoring extension this security would still have executed more than a pre-determined percentage above or below the price of the most recent automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction execution.
The applicable percentage is set by reference to a security s Millennium Exchange sector. This is set out in the Sector Breakdown tab of the Parameters document at www.londonstockexchange.com/tradingservices
The auction call period has been extended in this security by 5 minutes.
Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security s auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the most recent automated execution today.
The applicable percentage is set by reference to a security s Millennium Exchange sector. This is set out in the Sector Breakdown tab of the Parameters document at www.londonstockexchange.com/tradingservices
Fri, 18th Dec 2020 19:58
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
Ocado Group PLC - FTSE 100-listed online supermarket - Appoints Mastercard Inc Chair Richard Haythornthwaite as independent non-executive chair. Haythornthwaite will be appointed following company s annual general meeting in May, but will join the board on January 1. He is replacing Stuart Rose, who is retiring after serving 8 years as chair. Ocado notes Haythornthwaite will retire from Mastercard, where he has served since its IPO in 2006, before joining the firm. Haythornthwaite is also the chair and co-founder of QiO Technologies Ltd, an advanced analytics and AI software company. He has previously served as CEO of listed companies Invensys PLC and Blue Circle Industries PLC. His other senior board appointments have included Cookson Group PLC, Lafarge SA, Imperial Chemical Industries PLC, Land Securities PLC,
The Company is actively pursuing opportunities in the United States through the acquisition of Atomic Oil and Gas LLC, and in sub-Saharan Africa. In Nigeria, in partnership with Shoreline Energy International Limited ( Shoreline ) and through their jointly held affiliated company Shoreline Canadian Overseas Petroleum Development Corporation ( ShoreCan ), COPL and Shoreline currently hold 80% of the share capital and have taken over the management of Essar Exploration and Production Limited (Nigeria) ( Nigerian Affiliate or the Affiliate ). On August 4, 2020, the Company announced that the shareholders of the Nigerian Affiliate had executed definitive agreements to resolve their longstanding disputes. Completion is ongoing, and when completed ShoreCan s shareholding in the Affiliate will change in accordance to the terms outlined in the Press Release. The Affiliate holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% hold