Business
PrimaryBid Offer
PrimaryBid Offer.
About this update from Kistos Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3711V\n Kistos PLC\n 14 April 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\n \n \n THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (AS AMENDED) (\"FSMA\") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED (\"PRIMARYBID\") WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (\"FCA\") (FRN 779021)\n \n \n 14 April 2021\n \n \n \n \n \n Kistos PLC\n \n \n (\"\n \n Kistos\n \n \" or the \"\n \n Company\n \n \") (LON: KIST)\n \n \n PrimaryBid Offer in Relation to Proposed Acquisition\n \n \n \n \n \n Kistos\n (\n \n LON: KIST\n \n ), the \n AIM\n quoted\n \n \n \n closed-ended investment company which has been established with the objective of creating value for its investors through acquisitions and management of companies or businesses in the energy sector\n , \n is pleased to announce a conditional offer for subscription via PrimaryBid (the \"PrimaryBidOffer\") of new ordinary shares of nominal value \n 10 \n pence each in the Company (\"New Ordinary Shares\"). The price at which the New Ordinary Shares will be placed will be determined at the end of the bookbuild (the \"Issue Price\")\n . The Company is also conducting a placing \n (the \"Placing\") and subscription (the \"Subscription\") \n of New Ordinary Shares at the Issue Price with institutional and other investors \n as announced on 12 March 2021.\n \n \n The Company will use the funds raised from the PrimaryBid Offer, the Placing and the Subscription to form part of the consideration to acquire the entire issued and outstanding share capital of Tulip Oil Netherlands B.V. (\"TON\") from Tulip Oil Holding B.V. (the \"Acquisition\"), which was announced by the Company on 12 March 2021. TON, via its wholly-owned subsidiary, Tulip Oil Netherlands Offshore B.V., owns an operating interest in the Q10-A offshore gas field and interests in other fields in the Dutch North Sea, including the Q10-B, Q11-B and M10/M11 discoveries, and other exploration and appraisal projects. Upon completion of the Acquisition, which constitutes a reverse takeover for the purposes of Rule...