Business
Result of Open Offer
Result of Open Offer.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nNOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN\n\nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n12 June 2017\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nResult of Open Offer\n\nEuropa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development and production company, announced on 24 May 2017 that it had raised £2.1 million by the issue of 23,999,993 New Ordinary Shares pursuant to a Firm Placing and 11,000,007 New Ordinary Shares pursuant to a Conditional Placing at an issue price of 6 pence per New Ordinary Share. Furthermore, Europa proposed to raise up to a further £1.5 million by the issue of up to a further 24,488,801 New Ordinary Shares pursuant to an Open Offer, also at an issue price of 6 pence per New Ordinary Share.\n\nThe Open Offer closed for acceptances at 11.00 a.m. on 9 June 2017. The Company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 21,500,368 Open Offer Shares, including applications for 8,716,883 Open Offer Shares under the Excess Application Facility. This represents 87.8 per cent of the maximum Open Offer Shares available under the Open Offer. Consequently:\n\n\nqualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement and any Ordinary Shares they applied for under the Excess Entitlement facility;\n\nthe Company will have raised gross proceeds of approximately £1.3 million through the Open Offer, and the admission of the 21,500,368 Open Offer Shares will become effective at 8.00 a.m. on 13 June 2017; and\n\nOpen Offer Shares (in uncertificated form) will be credited to CREST accounts on 13 June 2017 and definitive share certificates for the Open Offer Shares (in certificated form) will be dispatched to certificated shareholders by 27 June 2017.\n\n\nThe Conditional Placing is conditional upon, inter alia, the Company obtaining approval from its Shareholders to grant the Board authority to allot the Conditional Placing Shares and to disapply statutory pre-emption rights which would otherwise apply to the allotment of the Conditional Placing Shares. Accordingly, a Gen...