25 October
2024
The information contained within
this announcement is deemed by the Company to constitute inside
information under the UK Market Abuse Regulations ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Global
Petroleum Limited
("Global"
or "the Company")
Appointment of Media and
Marketing Consultant and Share Issuance
Global Petroleum Limited (LSE
AIM:GBP) is pleased to announce the appointment of a media and
marketing consultant. This partnership is expected to enhance our
visibility and engagement within the market.
For compensation of the services
rendered, the Company has issued a total of 11,111,111 new ordinary
shares, which will be distributed quarterly over the year. The
shares will be held in escrow and released each quarter as per the
agreed terms of the agreement. The first tranche of 2,777,777
shares has been issued.
The shares will be issued at an
effective price of £0.0027 per share, reflecting the agreed-upon
terms in the consultancy contract. This share issuance has been
approved by the Board of Directors and complies with all relevant
regulations.
Omar Ahmad, CEO of Global Petroleum
commented,
"Shareholder communication is essential, and the board
recognise this and decided to implement a marketing and media
growth strategy as we are entering into a busy period for our two
ongoing projects in Western Australia and
Namibia."
Admission to AIM
Application will be made for the new
ordinary shares to be admitted to trading on AIM ("Admission"). It
is expected that Admission of the new ordinary shares will become
effective at 8.00 a.m. on or around 31 October 2024. The new
ordinary shares will rank on Admission pari passu in all
respects with the existing ordinary shares.
Total Voting Rights
Following Admission, the total
issued share capital of the Company will be 3,917,121,789 Ordinary
Shares. Accordingly, the figure of 3,917,121,789 is to be used by
shareholders 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 under the FCA's
Disclosure Guidance and Transparency Rules.
For further information please
visit: www.globalpetroleum.com.au
or contact:
Global Petroleum Limited
+61 3 8611 5333
Andrew Draffin, Company Secretary
and Non-Executive Director
SPARK Advisory Partners (Nominated
Adviser)
+44 (0) 20 3368
3555
Andrew Emmott
CMC Markets (Joint Broker)
+44 (0) 20 3003 8632
Douglas
Crippen
SI Capital
Limited
+44 (0) 14 8341 3500
Nick Emerson
Tavistock (Financial PR &
IR)
+44 (0) 20 7920 3150
Simon Hudson / Nick
Elwes