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SOLO Solo Oil Plc

1.85
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Solo Oil Plc LSE:SOLO London Ordinary Share GB00BF1BK408 ORD 0.20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.85 1.80 1.90 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Solo Oil Plc Investment Facility Part Settlement and TVR (0591C)

14/10/2020 10:00am

UK Regulatory


Solo Oil (LSE:SOLO)
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From Mar 2019 to Mar 2024

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TIDMSOLO

RNS Number : 0591C

Solo Oil Plc

14 October 2020

14 October 2020

Solo Oil plc

("Solo" or the "Company")

Investment Facility Part Settlement and TVR

Solo (AIM: SOLO), soon to become Scirocco Energy, the AIM investing company targeting attractive production and development opportunities within the European energy market, announces that it has received a settlement notice from G.P. (Jersey) Limited ("GP Jersey"), which, as announced to shareholders on 6 October 2020, invested US$500,000 into Solo pursuant to the terms of the share subscription deed governing the investment facility referred to in that same announcement.

GP Jersey's investment was made as a prepayment for ordinary shares in the Company ("GP Jersey Shares"), the number (and price) of which were to be determined at the time GP Jersey elected to receive such GP Jersey Shares, according to the average of five daily volume-weighted average prices during the twenty trading days prior to the date of such election by GP Jersey.

Accordingly, the Company has issued and allotted 40,604,191 ordinary shares to GP Jersey at a price of GBP0.0094 per share in full and final settlement of amounts owing to GP Jersey. Application will be made for the 40,604,191 ordinary shares (the "Settlement Shares") to be admitted to trading on AIM with admission expected to take place on 20 October 2020 ("Admission"). The Settlement Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following Admission, the Company's enlarged issued share capital will comprise 688,114,001 ordinary shares with voting rights. This figure of 688,114,001 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 Disclosure Rules and Transparency Rules of the United Kingdom Financial Conduct Authority.

For further information:

 
  Solo Oil plc 
   Tom Reynolds, CEO                               +44 (0) 20 7466 
   Doug Rycroft, COO                                5000 
  Strand Hanson Limited, Nominated Adviser 
   & Broker                                         +44 (0) 20 7409 
   James Spinney / Ritchie Balmer / Rory Murphy      3494 
  Buchanan, Financial PR                            +44 (0) 20 7466 
   Ben Romney / Kelsey Traynor / James Husband       5000 
 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The securities may not be offered or sold in the United States, except pursuant to an applicable exemption from or in a transaction not subject to the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the securities is being made in the United States.

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TVRVZLBFBBLEFBD

(END) Dow Jones Newswires

October 14, 2020 05:00 ET (09:00 GMT)

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