Business
Placing
Placing.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 5834U Rockhopper Exploration plc 18 October 2010 \n\n18 October 2010\n \nRockhopper Exploration plc (\"Rockhopper\" or the \"Company\")\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN\n \nProposed fundraising to raise approximately £ 200 million through the issue of new ordinary shares\n \nDetails of the Placing\nA placing (the \"Placing\") of new Ordinary Shares, with both new and existing institutional shareholders (the \"Placing Shares\") is being conducted, subject to the satisfaction of certain conditions, through an accelerated book-building process to be carried out by Canaccord Genuity Limited (\"Canaccord Genuity\"), and Merrill Lynch International (\"Merrill Lynch\") acting as joint bookrunners (the \"Joint Bookrunners\") in relation to the Placing. The identity of Placees and the basis of the allocations are at the discretion of Rockhopper and the Joint Bookrunners. The number of Placing Shares and the price at which the Placing Shares are to be placed (the \"Placing Price\") will be agreed by Rockhopper with the Joint Bookrunners at the close of the book-building process. Details of the number of Placing Shares and the Placing Price will be announced as soon as practicable after the close of the book-building process.\nThe Placing Shares will be issued credited as fully paid and will rank pari passu with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares. The Placing will be made on a non pre-emptive basis.\nThe Company will apply for admission of the Placing Shares to be traded on the AIM market of the London Stock Exchange (\"Admission\"). It is expected that Admission will take place and that trading will commence on or around 8 November 2010.\nThe Placing is conditional upon, inter alia, Admission becoming effective and upon the passing of the Resolution (without amendment) at the Company's General Meeting proposed to be convened for on or around 5 November 2010. The Placing is also conditional on the Placing Agreement made between the Company, Canaccord Genuity and Merrill Lynch becoming unconditional and not being terminated in ...