Business
Issue of Equity
Issue of Equity.
About this update from Oracle Power Plc
[{"type":"text","content":"\n \n\n GB00B23JN426/GBP/PLUS-exn\n\n Oracle Coalfields plc\n\n Issue of Equity\n\n12 June, 2008\n\nThe Board of Oracle Coalfields plc (\"Oracle\" or \"the Company\") is pleased to announce that it has\nraised GBP453,750 through a placing of 5,500,000 shares with Orbis Equity Partners Ltd (\"Orbis\")\nat 8.25p.\n\nAdditionally, 5,500,000 warrants have been issued to the investors that took part in the placing\nthrough Orbis and are exercisable at 14p in whole or in part at any time until 31 May 2010.\n\nChairman's Statement:\n\n\"I am delighted with the response to the recent placing, which far exceeded the sum we set out to\nraise, and is testament to the progress the company has made to date on its flagship project,\nBlock VI Thar Coalfield, and the strategy that is being put in place to bring the Thar project\ninto development.\"\n\nThere are now 114,046,334 Ordinary Shares in issue and the Directors are interested in a total of\n34,580,000 Ordinary Shares which represent 30.32% of the issued share capital of the Company.\n\nThe Directors of the Issuer accept responsibility for this announcement.\n\nENDS\n\nENQUIRIES:\n\nORACLE COALFIELDS PLC\nSHAHRUKH KHAN, CHAIRMAN\nTELEPHONE: +44 (0) 1366500722\nEMAIL: [email protected]\n\nCORPORATE ADVISERS\n\nST HELEN'S CAPITAL PLC\nBARRY HOCKEN, DIRECTOR\nTELEPHONE: 020 7628 5582\nEMAIL: [email protected]\n\nCONDUIT PR\nJOS SIMSON\nTelephone: 020 7429 6603\n\nWEBSITE:\n\nwww.oraclecoalfields.com\n\nOracle Coalfields plc\n\nAbout Oracle:\n\nOracle Coalfields plc is a London-based resource exploration and development company with an 80\nper cent owned subsidiary (Sindh Carbon Energy Limited) operating in Pakistan. The Company's\nshares are quoted on the PLUS markets (symbol: ORCP). The Company's flagship project is the Block\nVI coal project which is located on the Thar coalfield in the eastern Sindh province, Pakistan.\nBlock VI is host to a JORC compliant resource of 1.4 billion tonnes and 371 million tonnes in the\nproven category.\n\nThe Company also owns the Indus East project in Pakistan. A pre-feasibility study carried out by\nDargo Associates confirmed an inferred resource for the area (in line with the JORC Code) to 365\nmillion tonnes, of which the boreholes KHW-1 and KHW-2 give an indicated resource of c.24 million\ntonnes.\n\nOracle Coalfields plc\n\n\...