Business
Result of GM, Result of Offer and Fundraising
Result of GM, Result of Offer and Fundraising.
About this update from Jersey Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 0860W Jersey Oil and Gas PLC 09 November 2017 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.\nCapitalised terms used in this announcement shall have the same meanings as the definitions set out in the Company's announcement of 20 October 2017 and in the Circular.\n \n \n9 November 2017\n \nJersey Oil and Gas plc\n(\"Jersey Oil and Gas\" or the \"Company\")\n \nResult of General Meeting\nResult of Offer, Completion of Fundraising and Issue of Equity\n \nJersey Oil and Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf (\"UKCS\") region of the North Sea, announces that the resolutions proposed at its General Meeting held earlier today, as set out in the formal Notice of General Meeting dated 24 October 2017, were all duly approved by shareholders.\nThe Offer announced as part of the Fundraising on 20 October 2017 having now closed for acceptances, the Company is pleased to announce that valid acceptances were received from Qualifying Participants in respect of, in aggregate, 1,878,441 Offer Shares, representing approximately 93.92 per cent. of the Offer Maximum. Qualifying Participants that have made valid applications will therefore be allocated all of the Offer Shares that they applied for.\nAccordingly, pursuant to the Placing and Offer announced on 20 October 2017 and further to the abovementioned passing of all resolutions at the Company's General Meeting held earlier today, the Company is issuing 10,000,000 new Ordinary Shares pursuant to the Placing and 1,878,441 new Ordinary Shares pursuant to the Offer at a price of 200 pence per share. The Company has therefore raised total gross proceeds from the Fundraising of approximately £23.76 million.\nMr Marcus Stanton, Non-Executive Chairman of Jersey Oil and Gas, has subscribed for a further 7,500 Ordinary Shares under the Offer in addition to his participation in the Placing as announced on 20 October 2017. Mr St...