Wentworth Resources Limited : Admission of Placement Shares
19 May 2017 - 3:00AM
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 OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, JERSEY,
SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
FURTHER, 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 WENTWORTH RESOURCES
LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION
WOULD BE UNLAWFUL.
18 May 2017
Wentworth
Resources Limited
Admission of
Placement Shares
Reference is made to the
announcement made on Wednesday, May 17, 2017 regarding completion
of the private placement of new common shares in Wentworth
Resources Limited ("Wentworth" or the "Company"), the Oslo Stock
Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East
Africa-focused oil and gas company. Further to this announcement,
the admission to trading on AIM and the Oslo Stock Exchange,
scheduled for tomorrow, will be delayed until the receipt of the
full settlement proceeds by the Company. It is expected that the
Placement Shares will be admitted to trading on Monday 22 May 2017
on AIM and the Oslo Stock Exchange.
In accordance with the continuing
obligations of the Oslo Stock Exchange, it is hereby announced that
the board of directors of the Company today has authorised the
issue of up to a maximum of 16,953,496 new common shares at the
subscription price of 25 pence per share in the private placement.
The new common shares will be issued upon receipt of the proceeds
for the shares by the Company.
A further announcement will be
made in due course confirming the admission to trading on AIM and
the Oslo Stock Exchange.
About Wentworth
Resources
Wentworth Resources is a publicly
traded (OSE:WRL, AIM:WRL), independent oil & gas company with:
natural gas production; exploration and appraisal opportunities;
and large-scale gas monetisation initiatives, all in the Rovuma
Delta Basin of coastal southern Tanzania and northern
Mozambique.
Enquiries: |
|
|
Wentworth |
Geoffrey
Bury,
Managing Director |
gpb@wentworthresources.com
+1 403 993 4450 |
|
|
|
|
Lance
Mierendorf,
Chief Financial Officer
|
lance.mierendorf@wentworthresources.com
+1 403 680 8773 |
|
Katherine
Roe
Vice President Corporate Development and Investor
Relations
|
katherine.roe@wentworthresources.com
+44 7841 087 230 |
Crux Advisers |
Investor Relations Adviser
(Norway) |
+47 909
808 48 |
|
Carl
Bachke |
|
|
|
|
Stifel Nicolaus Europe Limited |
AIM Nominated Adviser and Broker (UK) |
+44 (0)
20 7710 7600 |
|
Callum
Stewart |
|
|
Ashton
Clanfield
|
|
GMP FirstEnergy |
Broker (UK) |
+44 (0)
20 7448 0200 |
|
Hugh
Sanderson
David van Erp
|
|
FTI Consulting |
Investor Relations Adviser (UK) |
+44 (0)
20 3727 1000 |
|
Edward
Westropp
Kim Camilleri |
|
Cautionary note
regarding forward-looking statements
This announcement may contain
certain forward-looking information. The words "expect",
"anticipate", believe", "estimate", "may", "will", "should",
"intend", "forecast", "plan", and similar expressions are used to
identify forward looking information.
The forward-looking statements
contained in this announcement are based on management's beliefs,
estimates and opinions on the date the statements are made in light
of management's experience, current conditions and expected future
development in the areas in which Wentworth is currently active and
other factors management believes are appropriate in the
circumstances. Wentworth undertakes no obligation to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless required by applicable law.
Readers are cautioned not to place
undue reliance on forward-looking information. By their nature,
forward-looking statements are subject to numerous assumptions,
risks and uncertainties that contribute to the possibility that the
predicted outcome will not occur, including some of which are
beyond Wentworth's control. These assumptions and risks include,
but are not limited to: the risks associated with the oil and gas
industry in general such as operational risks in exploration,
development and production, delays or changes in plans with respect
to exploration or development projects or capital expenditures, the
imprecision of resource and reserve estimates, assumptions
regarding the timing and costs relating to production and
development as well as the availability and price of labour and
equipment, volatility of and assumptions regarding commodity prices
and exchange rates, marketing and transportation risks,
environmental risks, competition, the ability to access sufficient
capital from internal and external sources and changes in
applicable law. Additionally, there are economic, political, social
and other risks inherent in carrying on business in Tanzania and
Mozambique. There can be no assurance that forward-looking
statements will prove to be accurate as actual results and future
events could vary or differ materially from those anticipated in
such statements. See Wentworth's Management's Discussion and
Analysis for the year ended December 31, 2016, available on
Wentworth's website, for further description of the risks and
uncertainties associated with Wentworth's business.
Notice
Neither the Oslo Stock Exchange
nor the AIM Market of the London Stock Exchange has reviewed this
announcement and neither accepts responsibility for the adequacy or
accuracy of this announcement.
This information is subject of the
disclosure requirements pursuant to section 5-12 of the Norwegian
Securities Trading Act.
170518 Announcement
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wentworth Resources Limited via Globenewswire
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