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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Xplorer Plc | LSE:XPL | London | Ordinary Share | GB00B8VWXF68 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMXPL
RNS Number : 2202P
Xplorer PLC
04 June 2015
4 June 2015
Xplorer plc
("Xplorer" or the "Company")
Placing of New Shares, Update on Company & Total Voting Rights
Xplorer plc (LSE: XPL), the LSE Main Market listed investing company, is pleased to announce that it has raised GBP99,000 from the placing of 1,237,500 new ordinary shares of 1 pence each ("Ordinary Shares") in the Company at 8 pence per Ordinary Share (the "Placing").
On 18 December 2014, Xplorer announced that it was in discussions regarding a proposed acquisition of oil and gas assets in Africa (the "Proposed Acquisition"). The Proposed Acquisition would be conditional, inter alia, on the Company raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully. The Proposed Acquisition, if exchanged and completed, would constitute a reverse takeover under the Listing Rules. As the Company was unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules, the Company requested a suspension of trading in its shares.
Since that announcement the Company has been working to progress the transaction. With the weakness of the oil price, relative to the last five years, continuing, the Company has decided to focus on just one of the assets at this time, located in Morocco. The Company continues to be unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules at this time, and the Company's shares remain suspended. The Company hopes to provide further information shortly.
Total Voting Rights
As at 4 June 2015, the Company's issued share capital will comprise of 13,612,600 Ordinary Shares (including the 1,237,500 new Ordinary Shares). This figure of 13,612,600 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 FCA's Disclosure and Transparency Rules.
Enquiries:
Xplorer Plc www.xplorerplc.co.uk John Roddison, Director +44 207 495 7429 ------------------------------------ --------------------- Financial Adviser & Broker : Allenby Capital Nick Harriss, Director, Corporate Finance +44 20 3328 5656 ------------------------------------ ---------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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