Business
Result of General Meeting and TVR
Result of General Meeting and TVR.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4757H\n Borders & Southern Petroleum plc\n 06 April 2022\n \n \n \n \n 6 April 2022\n \n \n \n \n \n Borders & Southern Petroleum Plc\n \n \n (\"Borders & Southern\" or the \"Company\")\n \n \n \n \n \n Result of General Meeting and TVR\n \n \n \n \n \n On 4 March 2022, Borders & Southern Petroleum plc (AIM: BOR.L announced that the Company had conditionally raised US$600,000 by way of a Subscription for 34,702,000 new Ordinary Shares. The Company also announced an Open Offer to existing shareholders to raise up to US$1.2 million through the issue of up to 69,156,926 new ordinary shares. As per the announcement yesterday, the Open Offer has resulted in £1.35 million (US1.8 million) being raised through the issue of 103,858,914 new Ordinary Shares. \n \n \n \n \n \n The Fundraising was conditional on the passing of two Resolutions at a General Meeting. The Company is pleased to announce that the General Meeting was held today in London and all Resolutions were duly passed by Shareholders.\n \n \n \n \n \n Application has been made for the Subscription Shares and the Open Offer Shares to be admitted to trading on AIM (\"Admission\") and Admission is expected to take place on 7 April 2022.\n \n \n \n \n \n Following Admission of the Subscription Shares and Open Offer Shares, which rank pari passu to the Existing Ordinary Shares, the Company will have 587,957,318 ordinary shares of 1p each Ordinary Shares in issue, all of which have voting rights. Accordingly, this figure of 587,957,318 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.\n \n \n \n \n \n Subject to Admission, all conditions associated with the Fundraise have now been satisfied and the net proceeds of the Fundraise, together with the Company's existing cash resources, will provide the Company with working capital until at least 31 January 2023.\n \n \n \n \n \n Unless otherwise defined, capitalized terms have the same meaning as per the Company's circular dated 11 March 2022.\n \n \n &nb...