$40 million equity investment update

RNS Number : 6195X

Roxi Petroleum Plc

11 February 2013

 



For immediate release                                                                      11 February 2013

Roxi Petroleum plc

("Roxi" or "the Company")

First payments under the $40 million equity investment and appointment of new director

Further to the announcement of Tuesday 15 January 2013, concerning the agreement in relation to the equity investment of $40 million, Roxi is pleased to announce that the first $10 million payable under the subscription agreement has been received and that 83,791,429 new Roxi shares will be issued to Mr. Kairat Alpamyshovich Satylganov.

Roxi is also pleased to announce that Mr. Satylganov has been appointed to the Roxi Board as the Company's Chief Financial Officer. Mr. Satylganov (aged 47) was previously Chairman of two of the largest Kazakh banks, Halyk Bank and ATF Bank, and was also Chairman of the Kazakh investment company Almeks between 2004 and 2012.

Roxi will apply for the initial 83,791,429 subscription shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 18 February 2013.

Following the issue of the initial subscription shares the total number of shares in issue will be 693,381,710.  Mr Satylganov's shareholding represents approximately 12.1 per cent of the enlarged total.

Other information required about Mr. Satylganov:

Current Directorships;

None

Previous Directorships (within 5 years);

JSC ALMEKS Holding Group

There is no further information to be disclosed under Rule 17 and Schedule Two paragraph G of the AIM Rules

Comments

Clive Carver, Chairman, commented:

"I am delighted to welcome Mr. Satylganov as Chief Financial Officer of Roxi Petroleum. His knowledge and experience of the Kazakh banking sector will be a valuable asset to our Company.

Mr. Satylganov's investment will take care of the funding needs of Roxi for the foreseeable future and allow the Roxi management team to focus on developing its principal assets, in particular BNG."

Enquiries

Roxi Petroleum PLC                                                                    c/o Buchanan

Clive Carver, Chairman                                                      [phone]

WH Ireland plc                  

James Joyce / James Bavister                                           [phone]

Buchanan (Financial PR)

Tim Thompson / Tom Hufton                                           [phone]

 

END

 

 

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