Nordic Energy PLC/ Index: ISDX / Epic: NORP / Sector: Oil & Gas
24 July 2014
Nordic Energy plc
("Nordic" or the "Company")
Directors' Dealings and Issue of Equity
Nordic Energy plc, an oil and gas E&P company focused on Denmark, Norway and
the North Sea sectors of the Netherlands and the UK (the Nordic Area), advises
that the following dealings have occurred by directors in order to provide
liquidity to the market pursuant to an orderly market agreement entered into
when the Company's shares were admitted to trading on ISDX.
On the 23 July 2014, directors sold 500,000 shares in the company, as set out
below:-
Director Sale Number of Total holding Holding as a
price per shares sold subsequent to the percentage of issued
share sale share capital
Rudolf Kleiber 7.75p 250,000 20,500,000 20.35%
Patrick 7.75p 250,000 10,505,333 10.43%
Rocholl
On 17 April 2014, the Company announced that it had raised £187,000 through
subscriptions for 3,116,667 shares at 6p per share. The board of Nordic advises
that a correction is needed to this figure as the Company raised £189,000
through subscriptions for 3,150,000 shares at 6p per share.
Accordingly, the Company has issued the further 33,333 ordinary shares in
accordance with the subscriptions received. As a result of this amendment, the
issued share capital of the Company comprises 100,731,936 ordinary shares of
0.1p each.
The Directors of the Company take responsibility for this announcement.
For further information, please visit www.nordicenergyplc.com or contact:
Nordic Energy Plc Rudolf Kleiber 01932 865 111
Nordic Energy Plc Patrick Rocholl 020 7283 0179
Cairn Financial Advisers Jo Turner / Liam Murray 020 7148 7900
Nominated Adviser
Allenby Capital Ltd Chris Crawford 020 3328 5656
Broker
Yellow Jersey PR Ltd Kelsey Traynor 077 9900 3220
Notes
Nordic Energy is an oil and gas exploration & production company focused on the
North Sea and northern Europe. The Company listed on the ISDX Growth Market in
October 2012 to acquire low cost entry opportunities in the UK, Danish and
Dutch offshore sectors. The Directors have significant experience in the Nordic
Region in particular and are focused on building a multi-project portfolio at
various stages of development including exploration and production.
The
Directors have been assessing a number of assets in the Nordic Region and have
a pipeline of projects including exploration, development and production in
Denmark, the Netherlands and offshore UK.
The Company's focus is on exploration success in the Danish North Sea to create
near-term value for shareholders. The Company will leverage its industry
experience to acquire prospective low-cost exploration assets and production in
the Nordic region and re-evaluate prospectivity by applying modern technology.
The Board of Directors plans to use surplus cash flow from producing asset(s)
to fund future exploration activity. A tight control of corporate overheads
will maintain focus on operational value delivery.