Placing to raise ?500,000

RNS Number : 4838V

Clontarf Energy PLC

28 October 2014

 



28 October 2014

Clontarf Energy plc

("Clontarf" or "the Company")

Placing to raise £500,000

Clontarf Energy plc announces that it has raised £500,000 before expenses through a conditional placing ("Placing") of 71,428,571 new ordinary shares ("the Placing Shares") at a placing price of 0.7p per Placing Share.

The proceeds will be utilised for working capital as Clontarf seeks to complete the ratification of the Company's signed Petroleum Agreement on Tano 2A Block, Ghana.

Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). Admission is expected to be effective on 12th November 2014. Following Admission of the Placing Shares, the Company's issued share capital will consist of 454,225,781 ordinary shares, with each ordinary share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. This figure of 454,225,781 may therefore 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

For further information please visit http://clontarfenergy.com or contact:

Clontarf Energy plc

John Teeling, Chairman                                                                                        [phone]

David Horgan, Director

James Finn, Director

Nominated Adviser and Broker

Northland Capital Partners Limited

Gavin Burnell/Lauren Kettle                                                                              [phone]

Charles Laughton (Broking)

Public Relations

Blytheweigh                                                                                                             [phone]

Tim Blythe                                                                                                                 [phone]

Halimah Hussain                                                                                                     [phone]

Camilla Horsfall                                                                                                       [phone]

Pembroke Communications

Natalie Tennyson                                                                                                   [phone]

Alan Tyrrell                                                                                                                [phone]

 

END

 

 

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