RNS Number : 5402J
Nostra Terra Oil & Gas Company PLC
30 June 2011
FOR IMMEDIATE RELEASE 1 July 2011
Nostra Terra Oil & Gas Company Plc ("Nostra Terra" or the "Company")
Nostra Terra, the AIM oil and gas producer with projects in the USA, is pleased to announce that it has successfully raised GBP2,000,000 before expenses by way of a placing of 333,333,335 new ordinary shares of 0.1p each in the capital of the Company ("new Ordinary Shares") at 0.6 pence ("Placing Price") per new Ordinary Share (the "Placing"). The Placing was undertaken with existing and new investors. In addition, Sir Adrian Blennerhassett, the Chairman, subscribed for 500,000 new Ordinary Shares.
The net proceeds of the Placing will be used for working capital purposes.
The 333,333,335 new Ordinary Shares to be issued pursuant to the Placing will rank pari passu in all respects with the existing issued ordinary share capital of the Company. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 6 July 2011.
Commenting on the placing, Matt Lofgran, Chief Executive Officer of Nostra Terra, said:
"Nostra Terra is delighted to have secured the support of both retail and institutional investors for its strategy of acquiring a diverse pipeline of assets in established oil and gas plays. This fundraising allows us to step up the pace in our activities".
DIRECTORS' HOLDINGS ON COMPLETION OF THE PLACING
Set out below are aggregate interests of the Directors in the Company's issued share capital following completion of the Placing:
Aggregate Following the
Number of new following Percentage of the
Ordinary Shares completion of the enlarged issued
Shareholder being issued Placing share capital
Blennerhassett 500,000 6,000,000 0.31
Matt Lofgran - 15,000,000 0.77
Stephen Oakes - 14,166,666 0.73
TOTAL VOTING RIGHTS
Following the Placing, the issued share capital of the Company will increase by 20.7 per cent to 1,945,433,918 Ordinary Shares of 0.1p each. This 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 a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc
Matt Lofgran, CEO
email@example.com Telephone: +1 480 993 8933
Shore Capital and Corporate Limited
Telephone: 020 7408 4090
Alexander David Securities Ltd
David Scott / Bill Sharp Telephone: +44 (0)20 7448 9820
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010
This information is provided by RNS
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