Aminex PLC
08 June 2006
Aminex plc
8 June 2006
Aminex plc ("Aminex" or the "Company")
Placing of 9,772,768 new ordinary shares at a price of £0.30 per Placing Share
to raise in aggregate £2.93 million, and grant of 4,886,384 Warrants
Aminex plc is pleased to announce that the Company has entered into arrangements
to place 9,772,768 new Ordinary Shares of nominal value €0.06 each in the
capital of the Company at a price of Stg£0.30 per share (the "Placing"). The new
Ordinary Shares represent approximately 6% of the issued share capital. In
addition the Company is issuing one warrant for every two placing shares which
give the right to subscribe for one Ordinary Share, at an exercise price of
£0.34 per Share. The warrants will expire on 15 December 2007. The Placing has
been arranged by Davy and Oriel Securities.
Proceeds of the Placing, amounting to approximately £2.93 million before
expenses, will primarily fund seismic and other pre-drilling studies on its
internal frontier exploration licences, in anticipation of an active drilling
campaign which is planned for 2007. First drilling next year is likely to be in
Tanzania where new seismic and other data has been acquired over the last nine
months. In addition it is anticipated that progress will be made in the
Democratic Peoples Republic of Korea, Madagascar, Kenya and Egypt.
Application has been made to the Irish Stock Exchange Limited and to the London
Stock Exchange plc for the new Ordinary Shares to be admitted to the Official
List of the Irish Stock Exchange and the Official List maintained by the UK
Listing Authority respectively, and to the Irish Stock Exchange and the London
Stock Exchange for admission of the new Ordinary Shares to trading. It is
expected that admission will be effective and that dealings in the new Ordinary
Shares will commence on 13 June 2006.
Aminex's Chief Executive, Brian Hall said:
"Aminex is an early pioneer on the East African margin which has now become an
area of high interest for the oil exploration industry. The completion of our
current seismic programmes and pre-drilling studies will enable us take best
advantage of the potential of our drilling prospects. We are very pleased that
both existing and new institutional shareholders have supported this equity
placing."
For reference:
Aminex (+44 20 72401600)
Brian Hall
Davy Corporate Finance (+353 1 6796363)
Hugh McCutcheon / Fergal Meegan
Oriel Securities (+44 20 7710 7600)
Simon Bragg / Scott Richardson-Brown
Pelham PR
Archie Berens (+44 20 7743 6679)
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange