Business
?1.2m Raised from Disposal of 5m GOS Shares
?1.2m Raised from Disposal of 5m GOS Shares.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9160L Xtract Resources plc 10 July 2014 \n \n\n \n10 July 2014\n \n \nXtract Resources Plc\n(\"Xtract\" or the \"Company\")\n \n \nXtract raises £1.2 million through disposal of 5 million GOS shares\n \nXtract Resources Plc (AIM: XTR) has sold 5 million shares in Global Oil Shale Group Limited ('GOS') at 23.77 pence per share, for a total consideration of £1,188,679. \n \nXtract was initially issued 6,000,000 shares in GOS at a subscription price of 12p, in December 2012, as part of the disposal of the Julia Creek oil shale tenements in Queensland, Australia with an additional 1,371,365 in December 2013 at 40p. Xtract therefore retains a total of 2,371,365 shares and as per the agreement would be allotted a further 1,500,000 shares immediately prior to a listing of GOS shares on a stock exchange or market. \n \nJan Nelson, CEO commented: \"The opportunity arose for Xtract to sell 5 million shares, which immediately provides the Company with an additional £1.2 million without diluting shareholders. This strengthens our cash position as we continue to develop and grow Chépica and evaluate the opportunities at Mejillones.\"\n \nEnquiries:\n \n\n\n\n\nXtract Resources Plc\n\n\nJan Nelson, CEO\n \n\n\n+44 (0)20 3416 6471\n \n\n\n\n\nCenkos Securities Plc\n\n\nBeth McKiernan\nAlan Stewart\n\n\n+44 (0)20 7397 8900\n+44 (0)131 220 6939\n\n\n\n\nGable Communications \n\n\nJustine James\n \n\n\n+44 (0)20 7193 7463\n+44 (0) 7525 324431\n\n\n\n\nSt James's Corporate Services\n\n\nPhil Dexter\n\n\n+44 (0)20 7796 8647\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCSSUFWUFLSEDW\n ","length":4371,"tagName":"div"}]