Admission to AIM
August 03 2006 - 4:00AM
UK Regulatory
RNS Number:1568H
Cue Energy Plc
03 August 2006
Cue Energy plc
3 August 2006
Placing and Admission to AIM
Cue Energy plc ('Cue' or the 'Company'), announces that, with effect from
08.00am today (3 August 2006), its existing ordinary shares of 0.07p each
('Ordinary Shares') and new ordinary shares ('Placing Shares') issued pursuant
to a successful placing, have been admitted to AIM. Ruegg & Co Limited is acting
as the nominated adviser and Hichens, Harrison & Co. plc as broker to the
Company.
Cue has been established for the purpose of making investments in the energy
sector, which may include exploration, development or production projects in oil
and gas, coal, uranium and renewable energy.
Cue will primarily focus on investment and acquisition opportunities in Southern
Africa, the former Soviet Union and South East Asia. Cue's interest in a
proposed investment may range from a minority position to 100 per cent.
ownership. The proposed investments may be a direct interest in an energy
project or an indirect interest through partnerships, joint ventures or either
quoted or unquoted companies.
It is intended that Cue will make investments which are in the development and/
or production stages, however the Directors may decide that the Company should
invest in early stage exploration assets where some exploration or development
expenditure has already been made. The Directors intend to actively monitor any
investments and/or acquisitions made by the Company.
Key Statistics
Placing Price 2p
Number of Placing Shares 150,000,000
Number of Ordinary Shares in issue immediately
following the Placing 230,207,901
Market Capitalisation of the Company
at the Placing Price on Admission #4,604,158
Percentage of the issued share capital
represented by the Placing Shares 65.16%
Gross proceeds of the Placing #3,000,000
Estimated net proceeds of the Placing #2,800,000
Ends
For further information, please contact:
Hichens, Harrison & Co. plc 020 7382 4451
Adam Wilson
Ruegg & Co Limited 020 7584 3663
Gavin Burnell
Brett Miller
This information is provided by RNS
The company news service from the London Stock Exchange
END
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