Xplorer PLC Issue of Equity (2202P)
04 Junho 2015 - 6:30AM
UK Regulatory
TIDMXPL
RNS Number : 2202P
Xplorer PLC
04 June 2015
4 June 2015
Xplorer plc
("Xplorer" or the "Company")
Placing of New Shares, Update on Company & Total Voting
Rights
Xplorer plc (LSE: XPL), the LSE Main Market listed investing
company, is pleased to announce that it has raised GBP99,000 from
the placing of 1,237,500 new ordinary shares of 1 pence each
("Ordinary Shares") in the Company at 8 pence per Ordinary Share
(the "Placing").
On 18 December 2014, Xplorer announced that it was in
discussions regarding a proposed acquisition of oil and gas assets
in Africa (the "Proposed Acquisition"). The Proposed Acquisition
would be conditional, inter alia, on the Company raising additional
equity finance for which there is no certainty that the Company
will be able to conclude successfully. The Proposed Acquisition, if
exchanged and completed, would constitute a reverse takeover under
the Listing Rules. As the Company was unable to provide a full
disclosure under Rule 5.6.15 of the Listing Rules, the Company
requested a suspension of trading in its shares.
Since that announcement the Company has been working to progress
the transaction. With the weakness of the oil price, relative to
the last five years, continuing, the Company has decided to focus
on just one of the assets at this time, located in Morocco. The
Company continues to be unable to provide a full disclosure under
Rule 5.6.15 of the Listing Rules at this time, and the Company's
shares remain suspended. The Company hopes to provide further
information shortly.
Total Voting Rights
As at 4 June 2015, the Company's issued share capital will
comprise of 13,612,600 Ordinary Shares (including the 1,237,500 new
Ordinary Shares). This figure of 13,612,600 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.
Enquiries:
Xplorer Plc www.xplorerplc.co.uk
John Roddison, Director +44 207 495 7429
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Financial Adviser & Broker :
Allenby Capital
Nick Harriss, Director, Corporate
Finance +44 20 3328 5656
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This information is provided by RNS
The company news service from the London Stock Exchange
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