Issue of Equity

RNS Number : 1143P
Empyrean Energy PLC
19 March 2009
 



19 March 2009


Empyrean Energy PLC

('Empyrean' or the 'Company', (EME))


Placing to raise £300,000


Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces it has conditionally raised £300,000 before expenses, through an institutional placing via its broker Blue Oar Securities Plc ('Blue Oar') of 10,000,000 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Placing Shares') at a price of 3p per Placing Share (the 'Placing'). 


Proceeds from the raising will contribute towards further development at the Sugarloaf project in TexasUSA and for general working capital.


The Placing has been performed under existing share allotment authorities, and the Placing Shares equate to 13.63% of the enlarged issued share capital of the Company following completion of the Placing


Following admission to trading on AIM of the Placing Shares, which will rank pari passu in all respects with the existing Ordinary Shares in issue, Empyreans' total issued and voting share capital will comprise 73,325,792 Ordinary Shares. This 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, securities of the Company.


Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on 2 April 2009. Completion of the Placing is conditional, amongst other things, on such admission becoming effective.



For further information visit www.empyreanenergy.com or contact:


Tom Kelly                    Empyrean Energy Plc          Tel: +61 (0)8 9321 6988


Nominated Adviser and Broker:


Corporate Broking

Jerry Keen                  Blue Oar Securities Plc        Tel: +44 (020 7448 4492 


Nominated Adviser

Olly Cairns                  Blue Oar Securities Plc         Tel: +61 (0) 8 6430 1631

Nick Lovering              Blue Oar Securities Plc        Tel: +44 (020 7448 4400


Public Relations:


Jonathan Charles         Conduit PR                          Tel: +44 (0) 207 429 6611

Fiona Hyland               Conduit PR                          Tel: +44 (0) 7791 892 509 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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