Business
?2.0 million Placing and Notice of General Meeting
?2.0 million Placing and Notice of General Meeting.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 0085R Union Jack Oil PLC 08 September 2014 \n\nUnion Jack Oil plc\n \n£2.0 million Placing and Notice of General Meeting\n \nUnion Jack Oil plc (\"Union Jack\" or the \"Company\"), an onshore oil and gas exploration company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector is delighted to announce that Shore Capital Stockbrokers Limited and SP Angel Corporate Finance LLP have raised £2.0 million (before expenses) through the conditional placing (the \"Placing\") of 666,666,641 new ordinary shares of 0.025p (the \"Placing Shares\") in the capital of the Company with new and existing investors at 0.3 pence per Placing Share (the \"Placing Price\").\n \nUse of proceeds\nThe Directors intend that the net proceeds of the Placing will be used to acquire entry into a number of later stage exploration projects where drilling is planned.\n \nNotice of General Meeting\nA General Meeting has been convened for 11.00 a.m. on 25 September 2014, at the offices of Osborne Clarke, 2 Temple Back East, Temple Quay, Bristol BS1 6EG, at which shareholder approval of the Placing will be sought.\nUnless otherwise defined herein, defined terms used in this announcement have the meaning given to them in the shareholder circular (\"Circular\") published today.\n \nDavid Bramhill, Executive Chairman, commented:\n\"We are delighted by the performance of Shore Capital and SP Angel who were joint brokers to the Placing. This additional funding will provide us with the opportunity to expand our portfolio of drill targets beyond our existing projects.\nWe will be reviewing a number of onshore opportunities, all of which will be advanced, drill ready prospects with the objective of participating in a number of additional exploration or appraisal wells during 2015.\"\nFor further information please contact the following:\n \nUnion Jack Oil plc \nDavid Bramhill &nbs...