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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petrel Resources Plc | LSE:PET | London | Ordinary Share | IE0001340177 | ORD EUR0.0125 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.80 | 1.70 | 1.90 | 1.80 | 1.80 | 1.80 | 15,922 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 0 | -311k | -0.0020 | -9.00 | 2.83M |
TIDMPET
RNS Number : 9227B
Petrel Resources PLC
26 September 2018
26(th) September 2018
Petrel Resources plc
("Petrel" or "the Company")
Placing to raise GBP400,000
The Directors of Petrel (AIM: PET) are pleased to announce that the Company has raised GBP400,000 (before expenses) via the placing of 21,621,622 ordinary shares (the "Placing Shares") with new investors at a price of 1.85p per Placing Share (the "Placing"). The Placing Shares represent approximately 20.68% of the Company's issued share capital, as enlarged by the Placing.
The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects.
The Placing shares will rank pari passu with the Company's existing ordinary shares of EUR0.125 each (the "Ordinary Shares"). Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 11(th) October 2018.
Following the Admission of the Placing Shares, there will be a total of 104,557,246 Ordinary Shares in issue with each share carrying the right of one vote. The above 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 change to their interest in, the Company under the FCA's Disclosure Guidance 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 http://www.petrelresources.com/ or contact:
Enquiries:
Petrel Resources John Teeling, Chairman +353 (0) 1 833 2833 David Horgan, Director Nominated Adviser and Broker Northland Capital Partners Limited David Hignell / Edward Hutton (Corporate Finance) +44 (0) 20 3861 6625 Rob Rees / Isabella Pierre Joint Broker Novum Securities Limited Colin Rowbury +44 (0) 207 399 9400 Blytheweigh +44 (0) 207 138 3206 Simon Woods +44 (0) 746 643 9633 Camilla Horsfall +44 (0) 787 184 1793 Teneo PSG Luke Hogg +353 (0) 1 661 4055 Alan Tyrrell +353 (0) 1 661 4055
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.
END
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(END) Dow Jones Newswires
September 26, 2018 02:00 ET (06:00 GMT)
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