Issue of Shares and TVR

RNS Number : 2745M
Solo Oil Plc
06 May 2015
 

For Immediate Release                                                                                   6 May 2015

Solo Oil plc

('Solo' or 'the Company')

Issue of Shares and TVR

Further to the announcement on 29 April 2015, in relation to the transaction with Burj Petroleum Africa Limited ("Burj Africa"), the Company announces that it will be issuing to Burj Africa forthwith 39,750,000 new ordinary shares in the Company at an issue price of 0.51 pence per share ("the Consideration Shares").

Application will be made for the Consideration Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM on or around 12 May 2015 ("Admission").

As at the date of this announcement, the Company's issued share capital consists of 5,516,830,571 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.

Following Admission, the Company's issued share capital will consist of 5,556,580,571 Ordinary Shares with a nominal value of 0.01 pence each and 265,324,634 deferred shares of 0.69 pence 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 5,556,580,571.

The above figure of 5,556,580,571 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 Conduct Authority's Disclosure and Transparency Rules.

For further information:

Solo Oil plc

Neil Ritson

Fergus Jenkins

+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)

 

Bell Pottinger                           

Public Relations

Henry Lerwill

 

Cassiopeia Services

Investor Relations

Stefania Barbaglio

 

+44 (0) 20 7408 4090

 

 

 

 

 

+44 (0) 20 3772 2500

 

 

 

+44 (0) 79 4969 0338

 


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