Business
Placing and Issue of Equity
Placing and Issue of Equity.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0938F Gold Oil PLC 18 April 2011 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\n \n\n\n\n\n \n\n\n \n\n\n\n\n18 April 2011 \n \nGold Oil Plc\n(\"Gold Oil\" or the \"Company\")\nPlacing and Issue of Equity \nDirectors Dealing\nGold Oil (AIM:GOO), the AIM listed oil and gas exploration and production company, primarily focused on Latin America, is pleased to announce that FirstEnergy Capital LLP and Seymour Pierce Limited, on behalf of the Company, have firmly placed 250,000,000 new Ordinary Shares of 0.025p each in the capital of the Company (\"Placing Shares\") at a price of 4 pence per Placing Share (the \"Placing Price\") to raise gross proceeds of £10 million (the \"Placing\").\nThe net amount raised will be used primarily to accelerate the Company's exploration programme which includes the acquisition of new 3D seismic on Block Z34, located in the offshore Talara Basin, Peru and for drilling the La Vega East well on the Azar block, onshore Colombia, planned for Q3 2011. The proceeds will also be used for further development activity on the Nancy, Burdine, and Maxine fields, onshore Colombia including the drilling of the Nancy 2 well and for general working capital purposes.\n \nThe Placing Price represents a discount of approximately 6.5 per cent. to the closing mid-market price of 4.28 pence per Ordinary Share on 15 April 2011, being the last dealing day prior to the release of this announcement. The Placing Shares will rank pari passu with all existing Ordinary Shares and will, assuming all are issued, be equivalent to approximately 39.1 per cent. of the current issued share capital of the Company, and will represent approximately 28.1 per cent. of the enlarged issued share capital of the Company from the issue of the Placing Shares. \n \nGold Oil's directors are participating in the Placing as detailed in the table below. Following the Placing, directors' shareholdings will be as follows:\n \n\n\n\n\nDirector\n\n\nCurrent holding\n\n\n% of issued share capital\n\n\nHolding following the Placing\n\n\n% of enlarged issued share capital\n\n\n\n\nJohn Bell \n(beneficially held by Sheer Energy) \n\n\n136,511,810\n\n\n21.33\n\n\n142,511,810\n\n\n16.01\n\n\n\n\nRichard Mew\n\n...