30 December 2021

Mosman Oil and Gas Limited

 ("Mosman" or the "Company")

Notice of Annual General Meeting

Proposed Share Consolidation

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, confirms that the Notice of Annual General Meeting has been sent to shareholders today. 

The Annual General Meeting will be held at 10.00am (AEDT) on 28 January 2022 at Suite 305, Level 3, 35 Lime Street, Sydney NSW 2000 Australia.

The Notice of Meeting details two Resolutions which include a notice of an intended share consolidation on the terms and indicative timetable as per the explanatory memorandum attached to the Notice of Meeting.

Proposed Share Consolidation

Mosman is proposing to conduct a consolidation to reduce the number of Shares on issue in the Company to a number more appropriate, and to better align the Company's trading price to an amount that is broadly comparable to its peer group of companies.

The Company currently has 3,845,138,052 Shares on issue and as at 29 December 2021 was last traded at 0.085 of 1 pence per Share.
 

If the resolution for a share consolidation is passed, the number of Shares on issue in the Company will reduce by a factor of 100:1, which equates to a resulting issued share capital of ~38,451,3811.

As the share consolidation applies equally to all Shares and Shareholders, all shareholdings will be reduced in the same ratio as the total number of shares (subject to the rounding of fractions) and accordingly there will be no material effect on the percentage interest of each Shareholder in the Company. Similarly, the aggregate value of each Shareholder's holding and the Company's market capitalisation will not, in principle, change as a result of the consolidation.

The Company will make a further announcement in respect of the number of shares on issue as a result of fractional shares (if applicable) being rounded up following the Share Consolidation.

Indicative Timetable
 

AGM Attendance

Mosman's priority is the health and wellbeing of its team and shareholders and as a result of the current measures, shareholders who are not able to attend the AGM, are strongly encouraged to submit their votes by proxy as soon as possible.

The Explanatory Memorandum and Proxy Forms are available on the Company's website: www.mosmanoilandgas.com
 

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