Business
Placing
Placing.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n08 June 2006\n\nAminex plc\n\n8 June 2006\n\n\n\n Aminex plc (\"Aminex\" or the \"Company\")\n\n\n\nPlacing of 9,772,768 new ordinary shares at a price of £0.30 per Placing Share\n\n to raise in aggregate £2.93 million, and grant of 4,886,384 Warrants\n\n\n\nAminex plc is pleased to announce that the Company has entered into arrangements\nto place 9,772,768 new Ordinary Shares of nominal value €0.06 each in the\ncapital of the Company at a price of Stg£0.30 per share (the \"Placing\"). The new\nOrdinary Shares represent approximately 6% of the issued share capital. In\naddition the Company is issuing one warrant for every two placing shares which\ngive the right to subscribe for one Ordinary Share, at an exercise price of\n£0.34 per Share. The warrants will expire on 15 December 2007. The Placing has\nbeen arranged by Davy and Oriel Securities.\n\n\n\nProceeds of the Placing, amounting to approximately £2.93 million before\nexpenses, will primarily fund seismic and other pre-drilling studies on its\ninternal frontier exploration licences, in anticipation of an active drilling\ncampaign which is planned for 2007. First drilling next year is likely to be in\nTanzania where new seismic and other data has been acquired over the last nine\nmonths. In addition it is anticipated that progress will be made in the\nDemocratic Peoples Republic of Korea, Madagascar, Kenya and Egypt.\n\n\n\nApplication has been made to the Irish Stock Exchange Limited and to the London\nStock Exchange plc for the new Ordinary Shares to be admitted to the Official\nList of the Irish Stock Exchange and the Official List maintained by the UK\nListing Authority respectively, and to the Irish Stock Exchange and the London\nStock Exchange for admission of the new Ordinary Shares to trading. It is\nexpected that admission will be effective and that dealings in the new Ordinary\nShares will commence on 13 June 2006.\n\n\n\nAminex's Chief Executive, Brian Hall said:\n\n\n\n\"Aminex is an early pioneer on the East African margin which has now become an\narea of high interest for the oil exploration industry. The completion of our\ncurrent seismic programmes and pre-drilling studies will enable us take best\nadvantage of the potential of our drilling prospects. We are very pleased that\nboth existing and new institutional shareholders have suppor...