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Angus Energy PLC (ANGS)

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Thursday 02 August, 2018

Angus Energy PLC

Exercise of conversion rights and issue of equity

RNS Number : 6035W
Angus Energy PLC
02 August 2018
 

                                                                                                                          2 August 2018

 

Angus Energy Plc

(the "Company")

 

 

Security Converted for Angus Energy

 

Final Issue and Allotment of Ordinary Shares Following Exercise of Conversion Rights

 

Angus Energy Plc (LSE:ANGS), a leading UK on-shore, conventional oil and gas production and development company, is pleased to announce that it has received notice of exercise of £2,590,000 in respect of the convertible security previously issued on 23 April 2018, the details of which were announced to the market on 25 April 2018, at a conversion price of £0.046 pursuant to which 56,304,348 ordinary shares (the "Relevant Shares") will be issued.

 

Following the issue of the Relevant Shares, Angus Energy will have settled in full the principal amount of the zero interest, unsecured convertible security with Bergen Global Opportunity Fund, LP (the "Investor") issued on 23 April 2018 thereby eliminating all liabilities. 

 

The conversion and increased equity ownership by the Investor will not result in any changes to the Board of Angus Energy.

 

An application has been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 8 August 2018. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

 

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 381,721,986 ordinary shares with voting rights. This figure of 381,721,986 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 in their interest in, the share capital of the Company under the Disclosure Rules and Transparency Rules of the United Kingdom Listing Authority.

 

END.

 

Enquiries:

Angus Energy Plc


Paul Vonk

Tel: +44 (0) 208 899 6380



Beaumont Cornish (NOMAD)


James Biddle/ Roland Cornish

Tel: +44 (0) 207 628 3396



Optiva Securities Limited (BROKER)


Jeremy King/ Ed McDermott

Tel: +44 (0) 203 137 1902



Yellow Jersey


Tim Thompson

Tel: +44 (0) 203 735 8825

 

About Angus Energy plc.

 

Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy majority owns and operates conventional oil production fields at Brockham (PL 235), Lidsey (PL 241) and the Balcombe Licence (25% interest in PEDL244). The Company has a 12.5% interest in the Holmwood licence (PEDL143).  


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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