Business
FOGL: Completion of Placing
FOGL: Completion of Placing.
About this update from Fih Group Plc
[{"type":"text","content":"\n RNS Number : 1504D Falkland Islands Holdings PLC 26 November 2009 \n \n 26th November 2009\n\n\nFalkland Islands Holdings plc\nFalkland Oil and Gas Limited - Completion of Placing\n\nFalkland Islands Holdings Plc ('FIH') the international services Group, which owns essential services businesses focused on transport and logistics is pleased to note the Completion of Placing announcement made today by Falkland Oil and Gas Limited.\n\nThe FIH shareholding in FOGL following the placing remains unchanged at 15,000,000 ordinary shares representing a 10.26 % interest.\n\nThe text of today's announcement by FOGL is shown below:\n \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA, NEW ZEALAND OR THE REPUBLIC OF IRELAND (THE \"RESTRICTED JURISDICTION\") OR ANY OTHER JURISDICTION IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n\n26 November 2009\nFalkland Oil and Gas Limited\n(\"FOGL\" or \"the Company\")\nCompletion of Placing\n\n \nFurther to the Company's earlier announcement in respect of its intention to raise £50 million before expenses, FOGL is pleased to announce the completion of the placing of 43,478,261 new ordinary shares of 0.002 pence in the capital of the Company (\"Ordinary Shares\") at a price of 115 pence per share (the \"Placing Price\") (the \"Placing Shares\") (the \"Placing\").\nTim Bushell, Chief Executive of FOGL, said:\n\"We are delighted to have raised the capital necessary to fully fund our planned exploration programme and look forward to completing the contractual rig arrangements to commence a minimum two well exploration programme in 2010.\n\"Any success would have a transformational impact on the prospects for FOGL.\"\n\n \nRAB Group participation in the Placing\nPursuant to the Placing, 1,500,000 of the Placing Shares have been placed with RAB Special Situations (Master) Fund Limited (\"RAB SSMF\"). In addition, 1,500,000 of the Placing Shares have been placed with RAB Cross Europe Fund Limited (\"RAB CEF\") and 435,000 of the Placing Shares h...