Share Name Share Symbol Market Type Share ISIN Share Description
Solo Oil 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
  -0.05p -2.04% 2.40p 2.20p 2.60p 2.45p 2.15p 2.45p 1,756,462 09:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -0.5 -0.0 - 11.25

Solo Oil Plc Issue of Equity

13/07/2018 12:09pm

UK Regulatory (RNS & others)

Solo Oil (LSE:SOLO)
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1 Month : From Jun 2018 to Jul 2018

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RNS Number : 6223U

Solo Oil Plc

13 July 2018



("Solo" or the "Company")

Issue of Equity

Solo Oil PLC (London AIM: SOLO), today announces that, in relation to the US$5m Convertible Loan facility previously announced on 14 November 2017 ("Facility"), and the US$1.5m advance ("Loan") drawn at that time, it has now received a notice of exercise from YA II PN Ltd and Cuart Investments PCC Ltd (the "Investors") to convert a small portion of the Loan, with an aggregate par value of US$83,335, into equity ("Conversion Notice") equating to a conversion price of 2.06p per share.

The Company has, therefore, allotted 3,058,651 new ordinary shares to the Investors ("Investor Shares"). The Investor Shares will rank pari passu in all respects with the existing ordinary shares.

Application will be made for these new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 20 July 2018. After today's conversion and previous repayments, the Par Value outstanding on the Loan is US$0.9 million

Following Admission, the Company's enlarged issued share capital will comprise 471,953,954 ordinary shares. The Company does not hold any shares in treasury. This figure of 471,953,954 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.

During the term of the Facility the Investors covenant that they and their affiliates and insiders will hold no net short position in the Company.

The information contained in this announcement is deemed by the Company to constitute inside information for the purposes of the EU Market Abuse Regulation No. 596/2014.

For further information, please contact:

 Solo Oil plc 
  Neil Ritson / Dan Maling              +44 (0) 20 7440 0642 
 Beaumont Cornish Limited 
  Nominated Adviser 
  Roland Cornish / Rosalind Abrahams    +44 (0) 20 7628 3396 
 Shore Capital 
  Broker                                +44 (0) 20 7408 4090 
  Jerry Keen 
  Buchanan (PR) 
  Ben Romney / Chris Judd / Henry 
  Wilson                                 +44 (0) 20 7466 5000 

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 or visit



(END) Dow Jones Newswires

July 13, 2018 07:09 ET (11:09 GMT)

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