Placing and Issue of Equity

 

TIDMINDY 
 
RNS Number : 4353P 
India Star Energy plc 
16 July 2010 
 

                              INDIA STAR ENERGY PLC 
                                  (AIM: INDY) 
 
                          Placing and Issue of Equity 
 
India Star Energy Plc ("India Star" or "the Company") announces that it has 
completed a placing of 281,758,857 new ordinary shares of 0.2 pence each ("New 
Ordinary Shares") at a price of 0.35 pence per share raising new monies 
totalling approximately GBP986,000 ("the Placing"). In addition the Company has 
issued one warrant for each Placing share exercisable at 0.35 pence per share 
for a period of 24 months following admission of the New Ordinary Shares.  The 
proceeds of the Placing will be used for general corporate development. 
 
Further to the Placing the following shareholders have a disclosable interest: 
 
+----------------------------+-------------+-------------+---------+ 
|                            |     Placing |     Revised | Revised | 
|                            |      shares |       total |       % | 
|                            |    acquired |     holding |         | 
+----------------------------+-------------+-------------+---------+ 
| Brewin Nominees (Channel   |  57,142,857 |  57,142,857 |   12.79 | 
| Islands) Limited           |             |             |         | 
+----------------------------+-------------+-------------+---------+ 
| Hexagon Finance            | 112,308,000 | 112,308,000 |   25.14 | 
+----------------------------+-------------+-------------+---------+ 
| Banque Benedict            | 112,308,000 | 112,308,000 |   25.14 | 
+----------------------------+-------------+-------------+---------+ 
 
In addition, as announced in the interim results for the six months ended 31 
December 2009, India Star has been monitoring the economics relating to its 
option to acquire 100 per cent. of the issued share capital of New Fuels 
International Limited ("NWIL").  It has now been concluded that it is not 
economically viable to exercise this option which has now lapsed. 
 
Application will be made to the London Stock Exchange plc for the New Ordinary 
Shares to be admitted to trading on AIM and is expected to occur on 22 July 
2010. 
 
In accordance with the provisions of the Disclosure and Transparency Rules of 
the Financial Services Authority, the Company confirms that, following this 
issue, its issued share capital comprises 446,758,857 Ordinary Shares of 0.2p 
each. All of the Ordinary Shares have equal voting rights and none of the 
Ordinary Shares are held in Treasury. The total number of voting rights in the 
Company is therefore 446,758,857. 
 
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. 
 
+--------------------------------+---------------------------------+ 
| Contacts:                      |                                 | 
+--------------------------------+---------------------------------+ 
|                                |                                 | 
+--------------------------------+---------------------------------+ 
| India Star Energy plc          | www.indiastarenergy.co.uk       | 
+--------------------------------+---------------------------------+ 
| Haresh Kanabar, Chairman       | [phone]            | 
+--------------------------------+---------------------------------+ 
|                                |                                 | 
+--------------------------------+---------------------------------+ 
| WH Ireland Limited             | www.wh-ireland.co.uk            | 
+--------------------------------+---------------------------------+ 
| Mike Coe / Marc Davies         | [phone]            | 
+--------------------------------+---------------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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