Business
Posting of Circular and Notice of General Meeting
Posting of Circular and Notice of General Meeting.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR, INTO ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE UNITED STATES (OR TO ANY U.S. PERSON),\n CANADA, JAPAN, AUSTRALIA, THE\n \n REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \n \n \n \n \n 9 December 2022\n \n \n \n \n \n \n \n \n Borders & Southern Petroleum plc\n \n \n \n (\"Borders & Southern\" or the \"Company\")\n \n \n \n \n \n \n \n \n Posting of Circular and Notice of General Meeting\n \n \n \n \n \n \n Borders & Southern (AIM: BOR), a London-based independent oil and gas exploration company, is pleased to announce that, further to the Company's announcement on 30 November 2022 regarding a part conditional fundraising of £2.5 million, the Company has today posted a Circular to Shareholders regarding the fundraising, which sets out a Notice of General Meeting, and a Form of Proxy for the proposed resolutions. These documents will be available on the Company's website as well.\n \n \n \n \n \n Of the £2.5 million fundraising, £1.85 million was raised through a firm placing of 105,714,281 Ordinary Shares at 1.75p per share (the \"Issue Price\") and these shares were admitted to trading, and dealings in such shares commenced, on 6 December 2022. A further £0.3 million has been raised through a conditional placing of 17,142,857 Ordinary Shares at the Issue Price and £0.35 million has been raised through a conditional subscription, direct with the Company by Harry Dobson, the Company's Non-Executive Chairman, of 20,000,000 Ordinary Shares at the Issue Price. Both the conditional placing and the conditional subscription are subject to the passing of resolutions at the General Meeting and these resolutions are outlined in the Circular. Shareholders are strongly encouraged to vote in favour of the resolutions.\n \n \n \n \n \n Capitalised terms used in this announcement have the meanings given to them in the Circular.\n \n \n \n \n \n For further information please visit\n \n \n www.bordersandsouthern.com\n \n \n or contact:\n \n \n \n \n \n \n \n \n \n \n \n \n Bo...