MX Oil PLC Conversion of debt and issue of equity (5771Z)
18 December 2017 - 6:00PM
UK Regulatory
TIDMMXO
RNS Number : 5771Z
MX Oil PLC
18 December 2017
MX Oil / Ticker: MXO / Index: AIM / Sector: Oil & Gas
18 December 2017
MX Oil plc ("MX Oil" or the "Company")
Conversion of debt and issue of equity
MX Oil, the AIM quoted oil and gas investing company, is pleased
to announce that it has agreed to repay GBP1.575 million of short
term debt that it currently has outstanding, that has been used for
working capital and other general corporate purposes, through the
issue of 196,875,000 new ordinary shares ("New Shares") at a price
of 0.8 pence per share. This represents approximately a 90 per
cent. premium to the closing mid price on 15 December 2017 of 0.42
pence per share. The New Shares represent 11.8 per cent. of the
enlarged issued share capital of the Company which, following this
issue, will comprise 1,671,349,664 ordinary shares.
Application has been made to the London Stock Exchange for the
New Shares to be admitted to trading on AIM. It is expected that
Admission will become effective and that dealings in the New Shares
on AIM will commence on or around 22 December 2017.
Following Admission, the issued share capital of the Company
will comprise 1,671,349,664 ordinary shares with one voting right
per share. The Company does not hold any shares in treasury.
Therefore, the total number of ordinary shares and voting rights in
the Company will be 1,671,349,664. The above figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
* * ENDS * *
For further information please visit www.mxoil.co.uk or
contact:
MX Oil PLC +44 20 7571
Stefan Olivier, CEO 0473
Cairn Financial Advisers LLP
(Nominated Adviser) +44 20 7213
Jo Turner/James Caithie 0880
Cornhill Capital
(Broker) +44 20 7710
Nick Bealer 9612
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGGCUPUPMPGM
(END) Dow Jones Newswires
December 18, 2017 02:00 ET (07:00 GMT)
Adm Energy (LSE:ADME)
Historical Stock Chart
From Apr 2024 to May 2024
Adm Energy (LSE:ADME)
Historical Stock Chart
From May 2023 to May 2024