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Clontarf Energy PLC (CLON)

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Thursday 20 September, 2018

Clontarf Energy PLC

Placing to raise £500,000

RNS Number : 4509B
Clontarf Energy PLC
20 September 2018
 

                                                                                                                                                                                               

 

20th September 2018


 

Clontarf Energy plc

("Clontarf" or "the Company")

 

Placing to raise £500,000

 

The Directors of Clontarf (AIM: CLON) are pleased to announce that the Company has raised £500,000 (before expenses) via the placing of 135,135,135 ordinary shares (the "Placing Shares") with new investors at a price of 0.37p per Placing Share (the "Placing").  The Placing Shares represent approximately 18.85% of the Company's issued share capital as enlarged by the Placing.

 

The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects.

 

The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each (the "Ordinary Shares").  Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 26th September 2018.

 

Following the Admission of the Placing Shares, there will be a total of 716,979,964 Ordinary Shares in issue with each share carrying the right of one vote.  The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

 

Ends

 



 

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

 

Clontarf Energy


John Teeling, Chairman

+353 (0) 1 833 2833

David Horgan, Director




Nominated Adviser and Broker


Northland Capital Partners Limited


Tom Price and Dugald Carlean

 (Corporate Finance)

+44 (0) 20 3861 6625

Rob Rees / Isabella Pierre

 


Joint Broker


 

Novum Securities Limited


 

Colin Rowbury

        +44 (0) 207 399 9400

 



Public Relations


Blytheweigh

+44 (0) 207 138 3206

Simon Woods

+44 (0) 746 643 9633

Camilla Horsfall

+44 (0) 787 184 1793



 

Teneo PSG


Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 

 


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