Spinnaker Opportunities PLC Completion of Placing and Subscription (8626A)
04 January 2018 - 12:00AM
UK Regulatory
TIDMSOP
RNS Number : 8626A
Spinnaker Opportunities PLC
03 January 2018
3 January 2018
Spinnaker Opportunities Plc
("Spinnaker" or "the Company")
Completion of Placing and Subscription
Spinnaker Opportunities Plc (LON: SOP), the standard listed cash
shell established to make a material acquisition in the energy or
industrial sectors, is pleased to announce the successful
completion of the placing and subscription to raise gross proceeds
of GBP170,000, as announced on 19 December 2017. All subscription
proceeds have been received. Admission of the new ordinary shares
to the London Stock Exchange is now anticipated to take place on
Monday 8 January 2018.
The placing and subscription takes the form of the issue of
3,400,000 units at a price of 5 pence per unit. Each unit consists
of one ordinary share plus one half warrant. The warrants are
exercisable at a price of 7.5 pence per share and will be valid up
to 19 June 2020. A further 100,000 Broker Warrants exercisable at 5
pence up to 19 June 2020 will be issued to SI Capital.
Following completion of the placing and subscription, there will
be a total of 29,400,120 ordinary shares in issue.
Spinnaker Chairman, Andy Morrison, commented:
"I am pleased with the successful completion of the placing and
subscription which was conducted at a 48 per cent premium to the
closing price of the Company's shares of 3.375p on 18 December
2017, indicating confidence in the Company's planned strategy.
The funds raised will help enable Spinnaker achieve its
objective of delivering shareholder value and I look forward to a
busy start to the year."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries
Spinnaker Opportunities Tel: +44 (0)7980 878
Andy Morrison, Chairman 561
Website: http://www.spinnakeropportunities.uk/
SP Angel (Financial Adviser Tel: +44 (0)20 3470
and Joint Broker) 0470
Lindsay Mair
Caroline Rowe
SI Capital (Joint Broker) Tel: +44 (0)1483 413
Tel: +44 (0)1483 500
Nick Emerson Tel: +44 (0)20 7138
Blytheweigh (Financial 3204
PR)
Nick Elwes
Simon Woods
About Spinnaker Opportunities
Spinnaker Opportunities (LON: SOP) is listed on the standard
list of the London Stock Exchange, led by a management team with
extensive expertise in the oil & gas/energy industries.
Spinnaker's strategy is to seek a single material acquisition with
a view to performing a Reverse Takeover to generate an attractive
capital return to its shareholders by achieving a valuation uplift
upon RTO and by selecting a target business that has significant
further value growth potential following acquisition.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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