Oryx Petroleum Exercises First Stage Investor Options, Shrs Down Slightly
Oil explorer Oryx Petroleum Corp. Ltd (OXC.TO) said all of the options related to pre-IPO transactions have been exercised, which resulted in the issue of 1,131 million common shares at a price of approximately US$9.29 each.
All of the options were held by directors, executive officers or employees of Oryx Petroleum, or by directors of The Addax & Oryx Group Limited. The corporation received US$10.5 million in proceeds from the exercise of the OXC Options. After giving effect to the exercise of the options, the directors and executive officers of Oryx own approximately 4.4% of issued and outstanding common shares.
Monday morning, shares which were initially up 0.34% at $14.65 in the 52-week range of $14.37 - $15, is now trading at $14.59.