Business
Placing and Option Exercise to Advance Portfolio
Placing and Option Exercise to Advance Portfolio.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9455H Empyrean Energy PLC 13 June 2017 \n\nThis announcement contains inside information\n \nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n \n13 June 2017\n \nEmpyrean Energy PLC ('Empyrean' or 'the Company')\nPlacing and Option Exercise to Raise a total of £862,800 to Advance Bolstered Portfolio\n \n· Placing to raise £0.56 million and exercise of options to raise a further £0.3 million\n· Funding now in place to support Empyrean's highly active appraisal and exploration programme\n· JV partner and operator Sacgasco directors participate in Empyrean placing\n· Empyrean CEO exercises options and increases shareholding to 14.9%\n· Gaz Bisht (Topaz Energy Pty Ltd) participates in Placing and increases shareholding to 9.66%\n \nEmpyrean Energy plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has today placed 16,080,000 new ordinary shares of 0.2p each (\"Placing Shares\") in the Company at 3.5p raising £562,800 (\"the Placing\"). \n \nIn addition, Apnea Holdings Pty Ltd, a company wholly-owned by Empyrean CEO, Tom Kelly, has exercised options in respect of 15,000,000 new ordinary shares of 0.2p each (\"Option Exercise Shares\") at an exercise price of 2p per Option Exercise Share raising a further £300,000 (\"the Option Exercise\"). Mr Kelly now has an interest in 55,881,563 shares representing 14.9% of the Company's enlarged issued share capital.\n \nApplication has been made for the Placing Shares and the Option Exercise Shares to be admitted to trading on AIM. Admission is expected to take place on 19 June 2017. The Placing Shares and Option Exercise Shares will rank pari passu with existing ordinary shares.\n \nFollowing the Placing and the Option Exercise, the Company's enlarged issued share capital will comprise 375,230,404 ordinary shares, each with voting rights. This figure may be used by shareholders 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, securities of the Company under the Financial Conduct Authority's Discl...