Matra Petroleum AB: Matra Petroleum closes acquisition and carries out a directed share issue of 4,593,435 shares as part of the consideration

Matra Petroleum AB and its wholly owned subsidiary Matra Terra LLC ("Matra" or the "Company") and entities controlled by Melody Capital Partners, LP ("Melody") have closed the acquisition initially announced on 14 March 2018, under which Matra acquires 40 oil and gas leases in the Texas Panhandle...

London, 05/06/2018 (informazione.news - comunicati stampa - energia)

Matra has entered into a loan agreement with Melody for the MUSD 4 loan that Matra assumes as part of the consideration. The loan is due on 31 December 2019 and carries interest of 7% per annum.

The Share Issue is based on the authorization granted by the annual general meeting held on 23 May 2018 and entails a 10.38 percent dilution of the number of shares and votes for existing shareholders in Matra. Through the Share Issue, the number of outstanding shares and votes will increase by 4,593,435, from 39,675,217 to 44,268,652. The share capital will increase by approximately SEK 4,593,435.08, from SEK 39,675,217.68 to approximately SEK 44,268,652.76. The subscription price in the Directed Issue is SEK 4.19 per share. The subscription price is based on an agreement in connection with the acquisition and corresponds to the volume weighted average share price on Nasdaq First North for the 20 trade days preceding the announcements on 14 March 2018 and 3 April 2018 with a discount of approximately 2.3 percent and 4.6 percent respectively.

The reason for deviating from the shareholders' pre-emptive rights is to finance the acquisition of the Assets from Melody through set-off against a promissory note issued as part payment for the Assets. Furthermore, the acquisition of the Assets is expected to support the further expansion and development of the Company's operations.

The acquired producing oil and gas assets are located in the Panhandle region in Texas and Matra Petroleum USA, Inc. has been operating the Assets under an operating agreement with Melody. The oil and gas production amounted to approximately 115 barrels of oil equivalent per day in March 2018.

Matra's total costs for the transaction are estimated to amount to approximately TUSD 150 which will be recorded in the second quarter 2018.

Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95

This information is information that Matra Petroleum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 5 June, 2018, at 07:30 CET.