Angus Energy PLC Exercise of conversion rights and issue of equity (6035W)
August 02 2018 - 3:30AM
UK Regulatory
TIDMANGS
RNS Number : 6035W
Angus Energy PLC
02 August 2018
2 August 2018
Angus Energy Plc
(the "Company")
Security Converted for Angus Energy
Final Issue and Allotment of Ordinary Shares Following Exercise
of Conversion Rights
Angus Energy Plc (LSE:ANGS), a leading UK on-shore, conventional
oil and gas production and development company, is pleased to
announce that it has received notice of exercise of GBP2,590,000 in
respect of the convertible security previously issued on 23 April
2018, the details of which were announced to the market on 25 April
2018, at a conversion price of GBP0.046 pursuant to which
56,304,348 ordinary shares (the "Relevant Shares") will be
issued.
Following the issue of the Relevant Shares, Angus Energy will
have settled in full the principal amount of the zero interest,
unsecured convertible security with Bergen Global Opportunity Fund,
LP (the "Investor") issued on 23 April 2018 thereby eliminating all
liabilities.
The conversion and increased equity ownership by the Investor
will not result in any changes to the Board of Angus Energy.
An application has been made for the Relevant Shares to be
admitted to trading on AIM with admission expected to take place on
8 August 2018. The Relevant Shares will rank pari passu in all
respects with all existing ordinary shares in the Company.
Following admission of the Relevant Shares, the Company's
enlarged issued share capital will comprise 381,721,986 ordinary
shares with voting rights. This figure of 381,721,986 ordinary
shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the Disclosure
Rules and Transparency Rules of the United Kingdom Listing
Authority.
END.
Enquiries:
Angus Energy Plc
Paul Vonk Tel: +44 (0) 208 899 6380
--------------------------
Beaumont Cornish (NOMAD)
--------------------------
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
--------------------------
Optiva Securities Limited (BROKER)
--------------------------
Jeremy King/ Ed McDermott Tel: +44 (0) 203 137 1902
--------------------------
Yellow Jersey
--------------------------
Tim Thompson Tel: +44 (0) 203 735 8825
--------------------------
About Angus Energy plc.
Angus Energy plc. is a UK AIM quoted independent onshore oil and
gas production and development company focused on leveraging its
expertise to advance its portfolio of UK assets as well as acquire,
manage and monetise select projects. Angus Energy majority owns and
operates conventional oil production fields at Brockham (PL 235),
Lidsey (PL 241) and the Balcombe Licence (25% interest in PEDL244).
The Company has a 12.5% interest in the Holmwood licence
(PEDL143).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCGRGDILGGBGID
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