20.02.07
Director's Dealings and Shareholding in Company
PetroLatina Energy Plc, an independent oil and gas exploration, development and production company, focused on Latin America, advises that 3,750,000 new ordinary shares have been issued and allotted following the exercise of the equivalent number of $0.10 warrants in the Company by existing shareholder, Taghmen Ventures Limited (Taghmen Ventures). Taghmen Ventures is a company in which Gregory Charles Smith (Greg Smith), Chairman of PetroLatina Energy Plc, has a beneficial interest.
At the same time, PetroLatina was informed that Taghmen Ventures has sold 900,000 ordinary shares in the Company at an average price of 23.8 pence per ordinary share to finance the exercise of the aforementioned warrants. The Company has accordingly been notified that Greg Smith and Taghmen Ventures will hold 17,700,001 ordinary shares in the capital of the Company, representing approximately 15.53% of the issued ordinary share capital of the Company.
Application has been made for the 3,750,000 new ordinary shares to be admitted to trading on AIM, a market operated by The London Stock Exchange plc. Admission of the new ordinary shares is expected to become effective on 26 February 2007.
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