Baron Oil plc received £62,500 following the exercise of options to subscribe for 62,500,000 new ordinary shares of 0.025p each in the company.
The options were originally granted to a previous director of the company and have an exercise price of 0.1p per new ordinary share.
On admission, Baron’s issued ordinary share capital will consist of 18,982,760,428 ordinary shares each with one voting right. The company holds no ordinary shares in treasury.