Altona Energy Plc Placing

 
TIDMANR 
 
7 July 2017 
 
                               Altona Energy Plc 
 
                          ("Altona" or "the Company") 
 
                           Placing to Raise GBP150,000 
 
The Company announces it has raised GBP150,000 from a placing of 100,000,000 new 
ordinary shares of 0.1p each in the Company (the "Placing Shares") at an issue 
price of 0.15p per share through a placing with new investors. 
 
The funds will be used for working capital purposes during the period of 
negotiation between the Company and Tri-Star Petroleum Company Inc. following 
the intervention of the South Australian Government, and, should these 
negotiations be unsuccessful, to then allow the Company time to consider an 
alternative strategy either with its existing Mineral Exploration Licences, or 
by acquiring new assets in a different location. 
 
Details of the Placing 
 
The Placing Shares will rank pari passu with the existing ordinary shares.  An 
application has been made for the Placing Shares to be admitted to trading on 
AIM which is expected to occur on 12 July 2017 ("Admission"). 
 
Total Voting Rights 
 
Following Admission the Company's enlarged issued share capital will comprise 
991,956,853 ordinary shares with voting rights.  The Company has no shares held 
in Treasury.  This figure of 991,956,853 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 the their interest in, the share capital of the Company under the 
FCA's Disclosure 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 www.altonaenergy.com or contact: 
 
Altona Energy plc                                    [phone] 
Qinfu Zhang, Executive Chairman 
 
Leander (Financial PR)                               [phone] 
Christian Taylor-Wilkinson 
 
Northland Capital Partners Ltd (Nomad and            [phone] 
Broker) 
Matthew Johnson / Gerry Beaney (Corporate 
Finance) 
John Howes (Corporate Broking) 
 
 
About Altona 
 
Altona is listed on the London Stock Exchange's AIM market.  Its principal 
focus is on the evaluation and development of the Company's flagship Arckaringa 
Project to exploit the significant coal resources contained in three 
exploration licences covering 2,500 sq. kms in the northern portion of the 
Permian Arckaringa Basin in South Australia.  The Project is designed to 
produce syngas products for the Australian market and export from a resource 
exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant). 
 
 
 
END 
 

(END) Dow Jones Newswires

July 07, 2017 02:00 ET (06:00 GMT)