ENP Newswire -
Release date- 12082014 -
The proceeds of the Placing will be applied to oil and gas exploration at the Horse Hill well in Surrey, and for working capital purposes.
The Shares will be issued in two tranches, with the first tranche comprising 60,500,063 Shares, and the second tranche of 56,321,437 Shares being issued conditional on shareholder approval being obtained for the issue of those Shares at a General Meeting which is expected to be held on or around
Notice of the General Meeting will be sent to the Company's shareholders shortly. Of the first tranche, 47,607,188 Shares will be Shares arising from the conversion of 47,607,188 Convertible Placing Shares of the Company.
Application has been made to the
Following the Placing, the Company's total issued ordinary share capital will consist of 1,592,224,234 Ordinary Shares with voting rights. No Ordinary Shares are held in treasury.
The above figure of 1,592,224,234 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 a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.
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