Business
Placing of shares
Placing of shares.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \n Europa Oil & Gas (Holdings) Plc \n\n Placing of New Shares \n\nEuropa Oil & Gas (Holdings) Plc (\"Europa\" or the \"Company\"), the oil and gas\nexplorer and producer with assets onshore UK, Romania and France and Offshore\nIreland, announces that its broker, finnCap, has raised approximately £700,000\n(before expenses) through an oversubscribed institutional placing of 7,777,776\nnew ordinary shares (the \"Placing Shares\") at a price of 9p per share (the\n\"Placing\").\n\nThe proceeds from the Placing will supplement the Company's existing cash\nresources in funding the near-term working capital requirements of the Company\nand its ongoing projects, and to strengthen the Company's balance sheet in\nlight of the recently announced Romanian VAT liability, as notified on 27\nSeptember 2011.\n\nThe Placing is being effected under the Company's existing share authorities,\nand the Placing Shares represent approx 5.6% of the enlarged issued share\ncapital of the Company following completion of the Placing.\n\nApplication has been made for the Placing Shares to be admitted to trading on\nAIM and admission is expected at 8.00 am on 31 October 2011.\n\nFollowing admission to trading on AIM of the Placing Shares, which will rank\npari passu in all respects with the existing ordinary shares in issue, Europa's\ntotal issued and voting share capital will comprise 137,855,504 ordinary\nshares. This figure may be used by shareholders as the denominator for the\ncalculations by which they will determine if they are required to notify their\ninterest in, or a change to their interest in, securities of the Company under\nthe FSA's Disclosure and Transparency Rules.\n\nHugh Mackay, CEO of Europa, said \"We are pleased at the ongoing support of the\nmarket for the Company, as evidenced by the level of interest in this\nfundraising, and we intend to deploy these funds to continue to build on the\nprogress the Company has made over the last few months.\"\n\nFurther information:\n\nEuropa Oil & Gas Tel: +44 1235 553 266\n\nHugh Mackay / Phil Greenhalgh\n\nfinnCap Tel: +44 20 7220 0500\n\nSarah Wharry / Henrik Persson, Corporate Finance\n\nJoanna Weaving, Corporate Broking\n ","length":2267,"tagName":"div"}]