Issue of Equity

RNS Number : 1019V
Solo Oil Plc
06 January 2012
 



Solo Oil plc

('Solo' or 'the Company')

Issue of Equity

Solo today announces that it has issued and allotted 59,322,034 new Ordinary Shares of 0.01 p each pursuant to a drawdown of £350,000 from the three year £10 million Equity Line Facility with Dutchess Opportunity Cayman Fund Ltd.

The 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 the 12th January 2012.

Following Admission, the Company's issued share capital will consist of 2,404,446,668 Ordinary Shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"), and 265,324,634 deferred shares of 0.69p each. The deferred shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company. The Company does not hold any Ordinary Shares in Treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,404,446,668.

The above figure of 2,404,446,668 Ordinary Shares may be used by shareholders in the Company 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, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

For further information:

Solo Oil plc

David Lenigas

Neil Ritson

 

+44 (0) 20 7440 0642



Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish

 

+44 (0) 20 7628 3396



Shore Capital

Joint Broker

Pascal Keane

Jerry Keen (Corporate Broker)

 

+44 (0) 20 7408 4090



Pelham Bell Pottinger

Financial Public Relations

Mark Antelme

Henry Lerwill

+44 (0) 20 7861 3232

 


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