3Legs Resources plc (1522I)

TIDMZZZZ TIDM3LEG
RNS Number : 1522I
AIM
09 June 2011
 
        ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION 
         IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM 
                                    RULES") 
 
 COMPANY NAME: 
 3Legs Resources plc (the "Company") 
 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY 
  TRADING ADDRESS (INCLUDING POSTCODES) : 
 Registered Office: Commerce House, 1 Bowring Road, Ramsey, 
  Isle of Man, IM8 2LQ 
 COUNTRY OF INCORPORATION: 
 Isle of Man, British Isles 
 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED 
  BY AIM RULE 26: 
 http://www.3legsresources.com/ 
 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, 
  IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING 
  POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE 
  TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: 
      The Company's group (the "Group") is focused on the exploration 
       and development of unconventional oil & gas resource with a 
       particular focus on shale gas in Europe. The Group holds 11 
       exploration licences in the following areas: 
       -- Poland (Baltic Basin) - 6 licences 
       -- Poland (Krakow) - 3 licences 
       -- Germany (Baden-Wurttemberg) - 2 licences 
       The Group's main country of operation is Poland, where it has 
       secured licences over 1,084,000 acres (gross) in the onshore 
       Baltic Basin region, targeting Silurian and Ordovician organic-rich 
       shales, and where it has carried out 3D seismic activity, drilled 
       2 vertical test wells and is currently drilling a 3(rd) test 
       well. 
 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS 
  AS TO TRANSFER OF THE SECURITIES (i.e. where known, number 
  and type of shares, nominal value and issue price to which 
  it seeks admission and the number and type to be held as treasury 
  shares): 
 84,782,544 ordinary shares of 0.025 pence each 
  No transfer restrictions 
 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED 
  MARKET CAPITALISATION ON ADMISSION: 
 Capital to be raised on Admission: GBP62.5 million of primary 
  capital 
  Anticipated market capitalisation on Admission: GBP161.1 million 
  (at the offer price: 190 pence) 
 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 
 58.1% 
 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH 
  THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES 
  (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: 
 None 
 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS 
  (underlining the first name by which each is known or including 
  any other name by which each is known): 
 Timothy John Crommelin Eggar (Non-Executive Chairman) 
  Peter Clutterbuck (Chief Executive Officer) 
  Barry John William Rourke (Non-Executive Director) 
  David Lawson Bremner (Non-Executive Director) 
  Robert Parkyn Jeffcock (Non-Executive Director) 
  Clive Ronald Needham (Non-Executive Director) 
  Roderick William Perry (Non-Executive Director) 
 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED 
  AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER 
  ADMISSION (underlining the first name by which each is known 
  or including any other name by which each is known): 
            Before Admission: 
             Tomuro Limited (1) 22.38% 
             Caithness Limited (2) 19.02% 
             Kamlesh Parmar (3) 7.71% 
             Roy Grainger Williams (4) 7.61% 
             Alexander Fraser (5) 5.39% 
             Cheviot Capital (Nominees Limited) (6) 3.85% 
             Discovery GeoServices Corporation (7) 3.70% 
             Richard Michael Harris 3.47% 
             After Admission (8) 
             Tomuro Limited (1) 12.33% 
             Caithness Limited (2) 10.48% 
             Kamlesh Parmar (3) 4.24% 
             Roy Grainger Williams (4) 4.19% 
             Alexander Fraser (5) 2.97% 
             Cheviot Capital (Nominees Limited) (6) 2.12% 
             Discovery GeoServices Corporation (7) 2.04% 
             Richard Michael Harris 1.91% 
             (1) William Jeffcock, who is the son of Robert Jeffcock (a 
             Non-Executive Director of the Company), is the beneficial owner 
             of the Ordinary Shares held by Tomuro Limited 
             (2) Robert Jeffcock is the beneficial owner of the Ordinary 
             Shares held by Caithness Limited 
             (3) Kamlesh Parmar also holds Share Options over 800,000 Ordinary 
             Shares pursuant to share option schemes which are not included 
             in the above figures 
             (4) Roy Williams also holds an interest in 79,200 Warrants 
             over the Ordinary Shares. Roy Williams also holds an interest 
             in 8,400 Warrants through a connected company, Mustardseed 
             Estates Limited of which he is a Director. Mustardseed Estates 
             Limited also holds 428,000 Ordinary Shares in the Company. 
             These interests are not included in the above figures 
             (5) Alexander Fraser also holds Share Options over 800,000 
             Ordinary Shares pursuant to share option schemes which are 
             not included in the above figures 
             (6) Ian McNeil is the beneficial owner of the Ordinary Shares 
             held by Cheviot Nominees Limited 
             (7) Michael Lewis, who is a geological consultant to the Group, 
             is the owner and President of Discovery GeoServices Corporation 
             (8) Assumes no exercise of an over-allotment option 
 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 
  2, PARAGRAPH (H) OF THE AIM RULES: 
 N/A 
            (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE 
            MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN 
            PREPARED (this may be represented by unaudited interim financial 
            information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE 
            REPORTS PURSUANT TO AIM RULES 18 AND 19: 
 (i) 31 December 
  (ii) 3 years ended 31 December 2010 & 3 months ended 31 March 
  2011 
  (iii) 30 September 2011(half year unaudited interim results 
  to 30 June 2011), 30 June 2012 (year-end audited results to 
  31 December 2011), 30 September 2012 (half year unaudited interim 
  results to 30 June 2012) 
 EXPECTED ADMISSION DATE: 
 14 June 2011 
 NAME AND ADDRESS OF NOMINATED ADVISER: 
 Jefferies International Limited 
  Vintners Place, 68 Upper Thames Street, London, EC4V 3BJ 
 NAME AND ADDRESS OF BROKER: 
 Jefferies International Limited 
  Vintners Place, 68 Upper Thames Street, London, EC4V 3BJ 
 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE 
  (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE 
  AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL 
  DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: 
 The Admission Document will be available, following Admission, 
  from: 
  http://www.3legsresources.com/ 
  For a period of one month following Admission, it will also 
  be available from the registered office of the Company (as 
  above), and the offices of its legal advisers, Squire, Sanders 
  & Dempsey (UK) LLP (7 Devonshire Square, London, EC2M 4YH) 
  The Admission Document will contain full details about 3Legs 
  Resources plc and the Admission of its securities. 
 DATE OF NOTIFICATION: 
 9 June 2011 
 NEW/ UPDATE: 
 Update
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