Business
Placing and Corporate & Directorate Update
Placing and Corporate & Directorate Update.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n NOSTRA TERRA OIL AND GAS COMPANY PLC\n (\"Nostra Terra\", \"NTOG\" or the \"Company\")\n\n Placing, Directorate Change, Debt Conversion and Change of Adviser\n\n30 June 2009\n\nThe Company is pleased to announce:\n\n · A placing of 390,000,000 new ordinary shares at 0.1p to raise £390,000\n before expenses\n · The appointment of Matt Lofgran as its new Chief Executive Officer in place\n of Brian Courtney who resigns today\n · The settlement of all outstanding convertible loan stock issued in 2007\n · The settlement of outstanding directors' and management fees and expenses by\n the issue of new shares\n · The appointment of Alexander David Securities Limited as Broker\n\n\nPlacing and Directorate Changes\n\nNostra Terra, the AIM-quoted oil and gas company, is pleased to announce that it\nhas completed a placing of 390,000,000 new ordinary 0.1p shares in the Company\n(the \"Placing Shares\") at a price of 0.1p per share, raising £390,000 before\nexpenses, conditional only on admission (the \"Placing\").\n\nBrian Courtney has today resigned as CEO and Director. The board would like to\nthank Mr. Courtney for his time with the Company, specifically acknowledging his\nrole in the Company's admission to trading on AIM. The Company wishes him well\nin the future.\n\nThe Company is also pleased to announce the appointment of Matthew Blaine\nLofgran, 33, as the new Chief Executive Officer with effect from admission of\nthe new shares.\n\nMr. Lofgran, 33, a US national and resident, has wide experience of business\ndevelopment in the energy, real estate, and communications sectors. Prior to\njoining NTOG, Mr. Lofgran was with Robson Energy, LLC latterly as VP of\nInternational Business Development. Here he launched the oil & gas division,\nfield services division, and subsequently the coal division. Matt was\nresponsible for expanding Robson Energy into new markets, including Mexico.\n\nMr. Lofgran is subscribing for 15,000,000 Placing Shares which will represent\n1.52 per cent. of the Company's issued ordinary share capital as enlarged by the\nPlacing and debt conversions. Glenn MacNeil, the Company's Finance Director, is\nsubscribing for 25,000,000 of the Placing Shares. Following the Placing and debt\nconversions, Mr. MacNeil will be interested in 5.57 per cent. of the Company's\nissued share capital as so enlarged by the Placi...