Europa Oil & Gas (Holdings) Plc Result of Open Offer
07 December 2018 - 6:00PM
UK Regulatory
TIDMEOG
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN
OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR
OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF EUROPA OIL & GAS (HOLDINGS) PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
7 December 2018
Europa Oil & Gas (Holdings) plc
("Europa" or the "Company")
Result of Open Offer
Europa Oil & Gas (Holdings) plc, the AIM quoted UK and Ireland-focussed oil and
gas exploration and production company, announced on 20 November 2018 that it
had raised GBP4.0 million by the issue of 133,333,338 New Ordinary Shares
pursuant to the Placing at an issue price of 3 pence per New Ordinary Share.
Furthermore, Europa proposed to raise up to a further GBP1.0 million by the issue
of up to a further 33,487,597 New Ordinary Shares pursuant to an Open Offer,
also at an issue price of 3 pence per New Ordinary Share.
The Open Offer closed for acceptances at 11.00 a.m. on 6 December 2018. The
Company is pleased to announce that it has received valid acceptances from
Qualifying Shareholders in respect of 9,969,882 Open Offer Shares, including
applications for 3,863,166 Open Offer Shares under the Excess Application
Facility. This represents 29.77 per cent. of the maximum Open Offer Shares
available under the Open Offer. Consequently:
1. Qualifying Shareholders who have validly applied for Open Offer Shares will
receive their full Basic Entitlement and any Ordinary Shares they applied
for under the Excess Entitlement facility;
2. the Company will have raised gross proceeds of approximately GBP0.3 million
through the Open Offer, and the admission of the 9,969,882 Open Offer
Shares will become effective at 8.00 a.m. on 10 December 2018; and
3. Open Offer Shares (in uncertificated form) will be credited to CREST
accounts on 10 December 2018 and definitive share certificates for the Open
Offer Shares (in certificated form) will be dispatched to certificated
shareholders in the week commencing 10 December 2018.
Enquiries:
For further information please visit www.europaoil.com or contact:
Hugh Mackay Europa + 44 (0) 20 7224 3770
Phil Greenhalgh Europa + 44 (0) 20 7224 3770
Matt Goode finnCap Ltd +44 (0) 20 7220 0500
Simon Hicks finnCap Ltd +44 (0) 20 7220 0500
Frank Buhagiar St Brides Partners Ltd +44 (0) 20 7236 1177
Susie Geliher St Brides Partners Ltd +44 (0) 20 7236 1177
Unless otherwise defined herein, capitalised terms used in this announcement
shall have the same meanings as defined in the circular sent to shareholders of
the Company on 20 November 2018.
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets that includes production, exploration and development
interests, in countries that are politically stable, have transparent licensing
processes, and offer attractive terms. During the 12 months to 31 July 2018, 94
boepd were recovered from three fields. Its highly prospective exploration
projects include six licences offshore Ireland with the potential to host gross
mean un-risked prospective resources of 6.4 billion barrels oil equivalent and
2.5 tcf undiscovered GIIP across all six licences.
END
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