Tullow Oil issues share capital of 1.45bn ordinary shares
Tullow Oil plc, the multinational oil and gas exploration company, has released an announcement in compliance with the Disclosure Guidance and Transparency Rules set forth by the UK’s Financial Conduct Authority (FCA). The announcement, made on 31 March 2023, provides an update on the company’s issued share capital and voting rights as of that date.
According to the announcement, as of 31 March 2023, Tullow Oil plc’s issued share capital consisted of 1,445,452,315 ordinary shares, each with a nominal value of 10p and voting rights. It is worth noting that there were no ordinary shares held in treasury at that time. Therefore, the total number of voting rights in Tullow Oil plc was 1,445,452,315.
This figure, as highlighted in the announcement, serves as a critical metric for shareholders looking to calculate whether they are required to disclose their interest in, or any changes to their interest in, Tullow Oil plc under the FCA’s Disclosure Guidance and Transparency Rules. The denominator for this calculation will be the total number of voting rights in the company, which, as of 31 March 2023, was 1,445,452,315.
Tullow Oil plc has a long history as a leading exploration and production company in the oil and gas sector. The company’s primary focus is on discovering and extracting oil and gas resources in Africa and South America, and it has operations in several countries worldwide. Tullow Oil plc’s mission is to deliver sustainable value to its shareholders, while also taking into account the needs of its stakeholders, including its employees, customers, and the wider communities in which it operates.
The disclosure of the company’s issued share capital and voting rights is an essential step in maintaining transparency and accountability to shareholders and other stakeholders. It allows them to make informed decisions about their investments and provides a benchmark against which they can measure their interest in the company. Moreover, the disclosure of this information is crucial in maintaining the integrity of financial markets and ensuring that they operate in a fair and transparent manner.
Tullow Oil plc’s announcement on its issued share capital and voting rights is a vital update for shareholders and other stakeholders. It provides a clear picture of the company’s current state, which enables investors to make informed decisions about their holdings. Additionally, it demonstrates the company’s commitment to transparency and accountability, which are essential for maintaining trust in financial markets.
