Bluebird Energy PLC Issue of Equity (6356Z)

TIDMBBE

RNS Number : 6356Z

Bluebird Energy PLC

11 March 2013

BLUEBIRD ENERGY PLC

(AIM: BBE)

Placing raising GBP1.88M

Bluebird Energy plc ("Bluebird" or "the Company") announces that it has placed 470m new ordinary shares with investors at a price of 0.4p per share, raising a total of GBP1.88m

The net proceeds of the Placing will provide additional working capital as the Company proceeds with its strategy of diversifying into other business sectors which are perceived as offering better investor returns on net assets.

James Ede-Golightly, Chairman, has invested GBP25,000 and Gordon Hall, senior non executive director, has invested GBP10,000 in the Placing. The independent director, Brian Marshall, who is not participating in the Placing and having consulted WH Ireland, the Company's nominated adviser, considers that the directors' participation is fair and reasonable insofar as the interests of shareholders are concerned.

Application has been made for the new ordinary shares to be admitted to AIM. It is expected that the admission will take place and dealings in the new ordinary shares will commence with effect from Friday 15 March 2013.

 
 Contacts 
 Bluebird Energy plc               www.bluebirdenergy.net 
 James Ede-Golightly - Chairman       [phone] 
 
 WH Ireland Limited                  www.wh-ireland.co.uk 
 John Wakefield                      [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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