Drawdown on facility

RNS Number : 8411B

Roxi Petroleum Plc

10 March 2014

 



For immediate release                                                                                                  10 March 2014

Roxi Petroleum plc

("Roxi" or "the Company")

Drawdown on facility

Roxi the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that a further $7 million has been called and received under the previously announced $40 million equity commitment with Mr. Satylganov, a Director of the Company. This brings the total called and received to date to $24.5 million. The proceeds will be used to continue the exciting drilling campaign at BNG.

Roxi will accordingly issue a further 58,654,000 shares to Mr. Satylganov, so that the total number of shares issued to Mr. Satylganov are 205,289,002, representing 24.5 per cent of the enlarged total shares in issue. The price of the shares issued to Mr. Satylganov is 7.41p, based on the agreed exchange rate of £1=$1.61 in the subscription agreement dated 14 January 2013.

Roxi will apply for these 58,654,000 subscription shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 13 March 2014. The total number of shares in issue following the issue of these shares will be 837,534,014. Roxi has no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Enquiries

Roxi Petroleum PLC

Clive Carver, Chairman [phone]

WH Ireland Limited

James Joyce / James Bavister [phone]

 

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