Business
Proposed Issue of Equity and Notice of GM
Proposed Issue of Equity and Notice of GM.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7136N Rose Petroleum PLC 20 May 2015 \n \n\nRose Petroleum plc (\"Rose\", the \"Company\" or the \"Group\")\nFundraising of £3.1m by way of a conditional placing and subscription\nDevelopment economic update\nNotice of General Meeting\nTVR\nRose Petroleum plc, the AIM-listed (Ticker: ROSE) natural resources company, is pleased to announce its intention to raise £3.1m by way of a conditional placing and subscription.\nSummary of the Placing\n· The Company proposes to raise £3.1m (before expenses) by way of a conditional placing by Allenby Capital Limited (\"Allenby Capital\") and a subscription of, in aggregate, 1,040,000,007 new ordinary shares of 0.1 pence each (\"Ordinary Shares\") (the \"Placing Shares\") at a price of 0.3 pence per share (the \"Placing\")\n· The net proceeds of the Placing will be used to provide funds to develop the Company's assets in eastern Utah and to meet general Group overheads\n· The Placing Shares have been conditionally placed with institutional and other investors\n· Subject to approval by shareholders of the authority to allot shares (the \"Resolution\") at a General Meeting to be held at 10am on 16 June 2015 at the offices of Allenby Capital Limited, 3 St Helen's Place, London EC3A 6AB (the \"GM\") and, amongst other things, to admission of the shares to be issued under the Placing to trading on AIM (\"Admission\"). A notice of GM and circular will be posted to shareholders in the coming days\nFor further information, please contact:\n\n\n\n\nMatthew Idiens (CEO)\n\n\nRose Petroleum plc\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\nJeremy Porter\n\n\nAllenby Capital\n\n\nTel: +44 (0) 20 3328 5656\n\n\n\n\nAlex Price\n\n\nAllenby Capital\n\n\nTel: +44 (0) 20 3328 5656\n\n\n\n\nElisabeth Cowell\n\n\nSt Brides Partners Ltd\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\nLottie Brocklehurst\n\n\nSt Brides Partners Ltd\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\n \nPlacing and subscription of 1,040,000,007 new Ordinary Shares at 0.3 pence (the \"Placing Price\") per new Ordinary Share\n1. Introduction\nThe Company proposes to raise £3.1 million (before expenses) through the issue of 1,040,000,007 new Ordinary Shares at 0.3 pence per share. The Placing Price represents a discount of approximately...