Business
First day of Dealings
First day of Dealings.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n Roxi Petroleum Plc\n03 March 2008\n\nRoxi Petroleum PLC\n\nFirst Day of Dealings\n\nRoxi Petroleum plc ('Roxi' or 'the Company'), the Kazakhstan based oil\nexploration and development company, is pleased to announce the first day of\ndealings in the shares of the Enlarged Group on the AIM Market of the London\nStock Exchange , following the passing on 29 February 2008 of all the\nresolutions relating to its acquisition of 59% of Eragon Petroleum plc \n('Eragon')\n\nRoxi has acquired a 59% controlling interest in Eragon, the holding company for\nthree exploration and development assets in Western Kazakhstan.\n \n- First day of dealings post acquisition of 59% of Eragon for US$190m\n satisfied by the allotment of 145m ordinary shares at 65 pence per share\n \n- Market capitalisation of (£70.4m) at an Admission price of ( 22) pence\n per share (being the closing price on 29 February 2008)\n \n- Approval of a waiver of the obligation to make a mandatory offer under\n Rule 9 of the City Code on Takeovers and Mergers granted.\n\n- Eragon assets include:\n \n o Three Contract Areas: BNG, Galaz and Munaily - in aggregate \n 1,453 km(2)\n\n o Located in the Pre Caspian and the Turgai basins - established\n petroleum provinces\n\n o Considerable exploration, development, and near term production\n potential:\n\n • BNG: 21 exploration leads\n\n • Galaz: Discovery with near term production potential\n\n • Munaily: Field rehabilitation\n\nSee appendix 1 for further details\n \n- In addition to its original projects of one oil field with development\n and exploration potential and one exploration block announced at IPO, Roxi \n now has controlling interests in three oil fields and two exploration \n blocks with clear potential for further development.\n\nADMISSION STATISTICS\n\nNumber of Existing Ordinary Shares 168,207,490\nNumber of Consideration Shares 145,000,000\nPrice per share at which Consideration Shares issued 65p\nProject Management Shares issuable on Admission 6,923,077\nNumber of Ordinary Shares on Admission 320,130,567\nConsideration Shares and Project Management Shares issuable on 47.46%\nAdmission as a percentage of the Enlarged Share Capital\nMarket capitalisation of the Company following Admission at the closing £(70.4m)\nshare price on 29 February 2008\n\nConsulting Option Shares 24,000,000\nConsideration Shares,...