Angus Energy PLC Angus Energy Completes £2M Private Placement (3888E)
09 February 2018 - 6:00PM
UK Regulatory
TIDMANGS
RNS Number : 3888E
Angus Energy PLC
09 February 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN
ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN
RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION
AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES.
9 February 2018
Angus Energy plc
("Angus Energy", the "Group" or the "Company")
Angus Energy Completes GBP2M Private Placement
Angus Energy Plc, a conventional oil and gas production and
development company, is pleased to announce it has successfully
raised GBP2.0 Million (gross) by means of a private placement (the
"Placing") with institutional and private investors.
The Placing
The Company has raised gross proceeds of GBP2,000,000 by the
issuance of 33,333,334 new ordinary shares of GBP0.002 each in its
share capital (the "Placing Shares") through its broker, Optiva
Securities Limited.
Highlights:
-- The Placing raised gross proceeds of GBP2,000,000 at a price
of 6p per Placing Share (the "Placing Price"), conditional only on
Admission. The Placing Price represents a discount of 27% to the
closing mid-market price on 8 February 2018.
-- The Placing Shares have been allotted and an application for
their admission to trading on AIM ("Admission") has been made with
Admission expected to take place on or around 15 February 2018. The
Placing Shares will rank pari passu with the Company's existing
ordinary shares in issue.
-- The number of ordinary shares in issue immediately after
Admission will be 297,637,986 giving the Company a market
capitalisation of GBP17.9 million at the Placing Price.
Use of proceeds:
The principle purpose of this offering is to increase financial
flexibility for acquisition activities. Net proceeds from the
Placing will:
-- contribute funding to the acquisition of a 25% interest in
the Balcombe Licence per the Company's 22 January RNS (the
"Partnership").
-- defray operational and associated costs related to the Partnership.
TVR
In addition, in conformity with the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
announces the following:
Following the Placing, the Company's issued share capital will
consist of 297,637,986 ordinary shares of GBP0.002 each ("Ordinary
Shares") with voting rights. The Company does not hold any Ordinary
Shares in Treasury.
The total number of Ordinary Shares in the Company with voting
rights, following Admission, will be 297,637,986.
The above figure of 297,637,986 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will, following Admission, 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 Disclosure Guidance
and Transparency Rules of the Financial Conduct Authority.
END.
About Angus Energy plc.
Angus Energy plc. is a UK AIM quoted independent onshore oil and
gas production and development company focused on leveraging its
expertise to advance its portfolio of UK assets as well as acquire,
manage and monetise select projects. Angus Energy majority owns and
operates conventional oil production fields at Brockham (PL 235)
and Lidsey (PL 241) and has a 12.5% interest in the Holmwood
licence (PEDL143).
Enquiries:
Angus Energy Plc
----------------------------------- --------------------------
Jonathan Tidswell-Pretorius / Tel: +44 (0) 208 899 6380
Paul Vonk
----------------------------------- --------------------------
Beaumont Cornish (NOMAD)
----------------------------------- --------------------------
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
----------------------------------- --------------------------
Optiva Securities Limited (BROKER)
----------------------------------- --------------------------
Jeremy King/ Ed McDermott Tel: +44 (0) 203 137 1902
----------------------------------- --------------------------
Yellow Jersey
----------------------------------- --------------------------
Tim Thompson Tel: +44 (0) 203 735 8825
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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