Equity Placement and TVR

RNS Number : 2267F

Solo Oil Plc

20 April 2011

 



For Immediate Release

20 April 2011

SOLO OIL PLC

("The Company")

Equity Placement, Total Voting Rights

Solo Oil plc (AIM: SOLO) the oil and gas exploration and development company with assets in Canada and Tanzania is pleased to announce that it has raised gross proceeds of £2.1 million in a placing to institutional investors of 150 million new ordinary shares of 0.01p each in the Company at 1.4p per share ("Placing Shares").

Subsequent to the issuance of the Placing Shares the Company will have 2,230,320,634 Ordinary Shares in issue.

Application will be made for the Placing Shares to be admitted to trading on AIM and these will rank pari passu with the Company's existing Ordinary Shares.  Dealings on AIM are expected to commence by 12 May 2011.

The funds raised will be used for further near term investments and working capital.

For further information:

Solo Oil plc David Lenigas Neil Ritson	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Shore Capital Joint Broker Pascal Keane Edward Mansfield Pelham Bell Pottinger Financial Public Relations Mark Antelme Henry Lerwill	[phone] [phone]

 

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