Caracal Energy Inc. (LON: CRCL) applied for admission to trade shares, worth more than CA$7 million, on the London Stock Exchange, the company said Dec. 27. The shares should be admitted on Dec. 31, the company added. Additionally, Caracal applied to Canada’s Financial Conduct Authority for admission to its Official List, the company said.
Caracal’s application to the London Stock Exchange covers some share issuances under block listings. An issuance of three million shares is under the company’s Employee Option Plan, on the exercise of share awards. Under the Employee Performance Warrant Plan, more than one million shares are under a block listing, on the exercise of share awards.
On Dec. 30, Caracal will issue nearly three million shares, pursuant to the terms of outstanding convertible securities, that were issued by the company on Sept. 13, 2012 . When issued, these shares will rank pari passu in all respects with Caracal's existing shares, the company said. After this particular issuance, Caracal’s total issued share capital will be 146,496,025 shares, the company added.
Shareholders may use this figure 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 in, the company's share capital under the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the company noted.
Caracal Energy is based in Calgary. It is an international oil and gas exploration and development company. It is focused on oil and gas development in the Republic of Chad.