Nostra Terra Oil & Gas Company PLC Proposed Acquisition Extension (1434U)
05 April 2016 - 4:00PM
UK Regulatory
TIDMNTOG
RNS Number : 1434U
Nostra Terra Oil & Gas Company PLC
05 April 2016
5 April 2016
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Proposed Acquisition Extension
Further to the announcements of 22 February and 1 April 2016
regarding the proposed acquisition of a 60% interest in producing
assets in the Permian Basin of New Mexico from Alamo Resources II,
LLC ("Proposed Acquisition"), Nostra Terra announces that an
extension to the closing to 29 April 2016 has been granted by an
agreement dated 4 April 2016. As payment for this extension Nostra
Terra will issue 118,626,040 new ordinary shares in the Company at
0.10 pence per share ("Shares") to Alamo Resources II, LLC
immediately. The payment on closing of the Proposed Acquisition
will be reduced by US$130,000.
The shares will rank pari passu in all respects with the
Company's existing issued ordinary shares. Application has been
made for the admission of the Shares to trading on AIM and it is
expected that admission will occur and that dealings will commence
at 8.00 a.m. on 8 April 2016.
Following Admission, the Company's issued share capital will
consist of 3,828,204,316 Ordinary Shares with no Ordinary Shares
held in treasury. Therefore the above figure of 3,828,204,316 may
be used by shareholders as the denominator for the calculations by
which they will 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 FCA's Disclosure and Transparency Rules.
Matt Lofgran, Chief Executive Officer of Nostra Terra,
commented:
"We're pleased to have been granted the extension by the seller
as we continue to progress towards closing, where we anticipate the
acquisition will be financed with debt."
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company
plc
Matt Lofgran, CEO +1 480 993
mlofgran@ntog.co.uk 8933
Strand Hanson Limited
(Nominated & Financial +44 (0) 20 7409
Adviser and Joint Broker) 3494
Rory Murphy / Ritchie
Balmer
Cornhill Capital Ltd (Joint +44 (0) 20 7710
Broker) 9610
Nick Bealer / Colin Rowbury
+44 (0) 20 7933
Walbrook PR 8797
Gary Middleton / Nick
Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQEASLSEEPKEEF
(END) Dow Jones Newswires
April 05, 2016 02:00 ET (06:00 GMT)
Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From Apr 2024 to May 2024
Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From May 2023 to May 2024