Information  X 
Enter a valid email address

Petrel Resources PLC (PET)

  Print      Mail a friend       Annual reports

Wednesday 26 September, 2018

Petrel Resources PLC

Placing to raise £400,000

RNS Number : 9227B
Petrel Resources PLC
26 September 2018
 

                                                                                      

 

                                                                                        

                                                                                         

 

 

                                                                                            

 

 

26th September 2018

 

Petrel Resources plc

("Petrel" or "the Company")

 

Placing to raise £400,000

 

The Directors of Petrel (AIM: PET) are pleased to announce that the Company has raised £400,000 (before expenses) via the placing of 21,621,622 ordinary shares (the "Placing Shares") with new investors at a price of 1.85p per Placing Share (the "Placing").  The Placing Shares represent approximately 20.68% 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 €0.125 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 11th October 2018.

 

Following the Admission of the Placing Shares, there will be a total of 104,557,246 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://www.petrelresources.com/  or contact:

 

Enquiries:

 

Petrel Resources


John Teeling, Chairman

+353 (0) 1 833 2833

David Horgan, Director




Nominated Adviser and Broker


Northland Capital Partners Limited


David Hignell / Edward Hutton (Corporate Finance)

+44 (0) 20 3861 6625

Rob Rees / Isabella Pierre

 


Joint Broker


Novum Securities Limited


Colin Rowbury

+44 (0) 207 399 9400



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

 


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.
 
END
 
 
IOEBLGDCRSDBGIU

a d v e r t i s e m e n t