Aminex PLC Exercise of Warrants (3288F)
17 May 2017 - 12:30AM
UK Regulatory
TIDMAEX
RNS Number : 3288F
Aminex PLC
16 May 2017
16 May 2017
EXERCISE OF WARRANTS
Aminex PLC ("Aminex" or the "Company") announces it has received
a notice for the exercise of 167,561,032 warrants over ordinary
shares with a nominal value of EUR0.001 each ("Ordinary Shares").
All the warrants exercised had an exercise price of Stg 1 pence per
warrant. Accordingly, 167,561,032 new Ordinary Shares will be
issued.
The warrants were originally granted in accordance with a
warrant deed signed on 16 January 2013 in conjunction with a
corporate loan facility with a fund managed by Argo Capital
Management (Cyprus) Limited. The exercise price was originally
EUR0.06 per warrant but subsequently amended on 29 January 2014 to
Stg 1 pence per warrant as part of a capital raise. Additional
warrants were granted in accordance with anti-dilution provisions
following capital raisings undertaken by the Company. The warrants
were exercisable by 30 June 2017. No warrants remain
outstanding.
The proceeds from the exercise of the warrants will be used for
working capital purposes.
Application will be made to the Irish Stock Exchange and the UK
Listing Authority for the 167,561,032 Ordinary Shares to be
admitted to the Official Lists and application will be made to the
Irish Stock Exchange and the London Stock Exchange for such
Ordinary Shares to be admitted to trading on their respective
regulated markets for listed securities. It is expected that such
admission will become effective and that dealings will commence in
the new Ordinary Shares at 8.00 a.m. (London and Dublin time) on or
around 22 May 2017. Following admission, the enlarged share capital
and the total voting rights of the Company will be
3,643,458,062.
For further information, please contact:
Aminex PLC
Jay Bhattacherjee, Chief Executive Officer +44 (0) 20 3198
8415
Max Williams, Chief Financial Officer
Investec Bank plc
Chris Sim +44 (0) 207 597 4000
Shore Capital
Jerry Keen +44 (0) 20 7408 4090
Davy
Brian Garrahy +353 (0) 1 679 6363
Camarco
Billy Clegg / Gordon Poole / Tom Huddart +44 (0) 20 3757
4980
Notes to editors
Aminex PLC is a producing company which is premium listed on the
London Stock Exchange and primary-listed on the Irish Stock
Exchange. The Company's focus is its three licences in Tanzania,
where it was one of the first independent oil companies to enter
the country in 2002:
Ruvuma Production Sharing Agreement (75%) Operator
The Ruvuma acreage includes Aminex's Ntorya-1 and Ntorya-2
onshore Cretaceous gas discoveries in the Ntorya appraisal area, a
component of the Ruvuma PSA. The Company considers that the Ntorya
appraisal area has Pmean GIIP of 466 Billion Cubic Feet ('BCF'),
being a three-fold increase over the previous estimate of 153 BCF
which was audited by LR Senergy in May 2015. The Ntorya-1 well
tested at 20 MMscd with 139 bbls of associated condensate and the
Ntorya-2 well tested at an average flow rate of 17MMscd on a 40/64'
choke.
Kiliwani North Development Licence (57.4474%) Operator
The Kiliwani North Field has been independently ascribed with 28
BCF gross contingent (2C) resource and is currently in production
at 15 MMscd. Gas is sold at the well head in $US at a fixed price
and fed directly into the Tanzania's pipeline infrastructure to Dar
es Salaam.
Nyuni Area Production Sharing Agreement (93.3333%) Operator
The Nyuni Area acreage offers high impact exploration and has
been ascribed 4.2 TCF prospective resource. Drilling success in the
region based on 3D seismic has been over 90%.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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