THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM
("Union Jack" or "the Company")
The Directors of
The proceeds from the Placing will allow the Company to take advantage of the current opportunities within the oil and gas market to further expand its portfolio through the acquisition of interests in drill-ready projects onshore
"The Placing further strengthens our balance sheet and will allow us to continue to execute our strategy of focusing on acquiring interests in low-cost
Admission
The Placing Shares will rank pari passu in all respects with the existing ordinary shares. Application has been made to the
The Company does not hold any shares in treasury and the above figure may therefore be used by shareholders as the denominator for the calculation to determine whether they are required to notify their interest in, or a change to their interest in, the Company under the
Holdings on Completion of the Placing
|
Prior to the Placing |
Placing Shares |
Following the Placing |
|
|
Number |
Percentage of Issued Share Capital |
||
Executive Chairman |
52,164,580 |
- |
52,164,580 |
1.81% |
Executive Director |
110,164,180 |
8,705,883 |
118,870,063 |
4.11% |
Non-Executive Director |
4,000,000 |
- |
4,000,000 |
0.14% |
Non-Executive Director |
14,000,000 |
11,764,706 |
25,764,706 |
0.89% |
For further information please contact:
|
+44 (0) 77871 60682 |
Shore Capital Nominated Adviser Bidhi Bhoma Corporate Broking |
+44 (0) 20 7408 4090 |
SP Angel Joint Broker Richard Hail
|
+44 (0) 20 3470 0470 |
Public Relations
|
+44 (0) 7768 537 739 +44 (0) 7799 003 220 |
This information is provided by RNS