Roxi Petroleum Plc Issue of equity (2989F)
19 February 2015 - 6:02PM
UK Regulatory
TIDMRXP
RNS Number : 2989F
Roxi Petroleum Plc
19 February 2015
Roxi Petroleum PLC
("Roxi" or the "Company")
Drawdown under the $40 million equity facility and exercise of
options
Roxi, the Central Asian oil and gas company with a focus on
Kazakhstan, is pleased to update the market with news it has called
down a further $1.0 million from the $40 million equity facility
announced in January 2013 with Mr Satylganov, a Director of the
Company. This brings the total called to date to $29.2 million.
The additional $1 million will principally be used to fund the
continued development of the Company's flagship BNG asset.
Roxi will accordingly issue a further 8,379,143 shares to
Mr.Satylganov, so that the total number of shares issued to
Mr.Satylganov are 244,670,973, representing 27.7 per cent of the
enlarged total shares in issue. The price of the shares issued to
Mr.Satylganov is 7.41p, based on the agreed exchange rate of
GBP1=$1.61 in the subscription agreement dated 14 January 2013.
Additionally, options over a further 500,000 Roxi shares have
been exercised.
Roxi will apply for the 8,879,143 subscription and option
exercise shares to be admitted to trading on AIM and it is
anticipated that trading in such shares will commence on 25
February 2015. The total number of shares in issue following the
issue of these shares will be 884,071,423.
Roxi has no shares in Treasury, therefore this figure may be
used by Shareholders, from Admission, as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
Enquiries:
Roxi Petroleum PLC Clive Carver, Chairman
+7 727 375 0202
WH Ireland Ltd James Joyce / James Bavister
+44 (0) 207 220 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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