Update on GM Circular & Issue of warrants

RNS Number : 5268D

Baron Oil PLC

20 February 2020

 

Baron Oil Plc

("Baron" or "the Company")

Update on GM Circular

Issue of warrants

Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration and production company, focused on opportunities in SE Asia, Latin America and the UK notes that on 21 February 2020 it will be posting its circular to shareholders setting out details of a general meeting to be held at 200 Strand London WC2R 1DJ at 11 a.m. on 10 March 2020 ("GM") in connection with its conditional Placing and Subscription to raise £2.5 million (gross) at a price of 0.1p per New Ordinary Shares (the "Circular").

Further to the Company's announcement of 14 February 2020, as part of the Placing arrangements Turner Pope Investments (TPI) Limited, have been granted 36,785,714 Warrants relating to Tranche 1 of the Placing Shares; a further 80,339,286 Warrants relating to Tranche 2 of the Placing Shares will be granted on the passing of the requisite resolutions at the GM. Both sets of Warrants have a three year life from the date of the Admission of the relevant New Ordinary shares with each warrant conferring a right to acquire a New Ordinary Share at 0.1p.

Subsequent to posting, the Circular will be made available for download from the Company's website ( https://www.baronoilplc.com/ ).

For further information, please contact:

Baron Oil Plc	[phone]
Dr Malcolm Butler, Executive Chairman
Andy Yeo, Managing Director
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser and Joint Broker
Stuart Gledhill, Stephen Wong
Turner Pope Investments (TPI) Limited	[phone]
Joint Broker
Andy Thacker, Zoe Alexander

 

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