Result of EGM

RNS Number : 0590E

Borders & Southern Petroleum plc

14 December 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, JAPAN, CANADA, AUSTRALIA, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA

14 December 2009

Borders & Southern Petroleum plc

("Borders & Southern" or the "Company")

Result of Extraordinary General Meeting

Borders & Southern, the independent oil and gas company focusing on exploration in the South Falklands basin, is pleased to announce that the resolutions proposed at the Company's Extraordinary General Meeting held earlier today relating to the placing of new ordinary shares were duly passed by shareholders. 

A total of 234,234,234 new Ordinary Shares in the Company (the "Placing Shares") have been placed with investors at a price of 50p per share. Total funds raised for the Company from the placing are £113.1 million net of expenses.

The Placing Shares are expected to be admitted to trading on AIM at 8.00 a.m. on 15 December 2009. 

The total number of ordinary shares in issue after the allotment of all the Placing Shares will be 428,578,404 with each ordinary share carrying the right to one vote. There are no shares held in treasury. The total number of voting rights in the Company will therefore be 428,578,404. The above figure 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, Borders & Southern under the FSA's Disclosure and Transparency Rules. 

For further information please contact:

Borders & Southern Petroleum plc
Howard Obee	020 7661 9348
Panmure Gordon	020 7459 3600
Dominic Morley
Ashton Clanfield
Callum Stewart
Mirabaud	020 7321 2508
Peter Krens
Ocean	020 7786 4370
Guy Wilkes
Tavistock Communications	020 7920 3150
Simon Hudson

 

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