Business
Completion of Placing and Open Offer
Completion of Placing and Open Offer.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 7818U Caracal Energy Inc. 05 December 2013 \n \n\n \n \n \nCaracal Announces Completion of Placing and Open Offer \nCALGARY, Alberta, 5 December 2013 - Caracal Energy Inc. (\"Caracal\" or the \"Company\") is pleased to announce the completion of the previously announced placing and open offer. A total of 27,862,994 common shares have been issued pursuant to the firm placing and placing and open offer (the \"Financing\") for total gross proceeds of approximately U.S.$201.8 million. The total number of new common shares comprised 5,782,880 issued pursuant to the firm placing (the \"Firm Placed Shares\") and 22,080,114 issued pursuant to the placing and open offer (the \"Open Offer Shares\").\nAdmission and total voting rights\nAs previously announced, the Firm Placed Shares were admitted to listing on the premium listing segment of the Official List and to trading on the London Stock Exchange plc's main market for listed securities (\"Admission\") on 13 November 2013. Admission in respect of the Open Offer Shares has occurred and dealings in the Open Offer Shares commenced at 8.00 a.m. (GMT) today. As a result, the Company's issued share capital now consists of 143,532,412 common shares. The Company does not hold any treasury shares.\nAs at 5 December 2013, the total number of voting rights in the Company is 143,532,412. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.\nThe financing was arranged by RBC Capital Markets, who acted as sole Global Co-ordinator, Sponsor and Joint Bookrunner to the Company. FirstEnergy Capital, Canaccord Genuity and Barclays acted as Joint Bookrunners. \n\"With Badila production onstream and increasing towards initial capacity rates, we are now focussed on bringing the Mangara Field on production in the coming months and delivering the next leg of value creation for our shareholders through the execution of our planned exploration programme in 2014. The 11 exploration wells planned over 2014 will in total test approximately 1.0 bnbbl of gross lease unrisked prospective resources and is our first step in achieving our plan t...