Issue of Equity

RNS Number : 8301T

Solo Oil Plc

13 December 2011

 



Immediate Release

13  December 2011

Solo Oil plc

('Solo' or 'the Company')

Issue of Shares

Solo Oil plc today announces that further to the announcement on 11 November 2011 relating to the GBP10 million Equity Line Facility ("ELF") with Dutchess Opportunity Cayman Fund Ltd ("Dutchess"), the commitment fee payable under the ELF has been settled by the issue of 13.8 million new shares of 0.01p each to Dutchess.

Subsequent to the issuance of these shares the Company will have 2,345,124,624 ordinary shares in issue.

Application will be made for the 13.8 million new ordinary shares to be admitted to trading on AIM and these will rank pari passu with the Company's existing shares.  Dealings of the new shares on AIM are expected to commence by 21 December 2011.

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]

 

END

 

 

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