Exercise of Options

RNS Number : 8644F

Solo Oil Plc

04 May 2011

 



Immediate Release

04 May 2011

Solo Oil plc

('Solo' or 'the Company')

Exercise of Options

Solo Oil plc today announces that it has issued and allotted 70,500,000 new Ordinary Shares of 0.01 p each pursuant to an exercise of 70,500,000 options at an exercise price of 0.5p.

Application will be made for the new ordinary shares to be admitted to trading on the AIM Market. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company and trading of these shares on AIM is expected to commence on 10 May 2011.

Following admission of the new ordinary shares as set out above, in addition to the 150,000,000 new ordinary shares issued under the placing announced on 20 April 2011 and the 30,500,000 new ordinary shares issued under the option exercise announced on 28 April 2011, the Company's enlarged issued share capital will comprise 2,331,320,634 Ordinary shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company therefore will be 2,331,320,634 Ordinary shares.

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	[phone]
Pelham Bell Pottinger Financial Public Relations Mark Antelme Henry Lerwill	[phone]

 

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