Star Phoenix Group Ltd Issue of Equity (5335H)
March 25 2020 - 5:20AM
UK Regulatory
TIDMSTA
RNS Number : 5335H
Star Phoenix Group Ltd
25 March 2020
Star Phoenix Group Ltd
("Star Phoenix" or "the Company")
25 March 2020
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE
("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
ISSUE OF EQUITY
Star Phoenix (AIM: STA), an international company with oil and
gas projects and oilfield service businesses in Trinidad and
Indonesia, is pleased to advise that it has completed a placing
announced on 20 January 2020. The investor has provided the Company
with total proceeds of approximately GBP565,000 comprising
subscription proceeds plus late fee payment.
Pursuant to the subscription, the Company issued 23,561,326 new
ordinary shares ("Subscription Shares") at a price of 2.21 pence
per new ordinary share. The Subscription Shares represent 20% of
the issued ordinary share capital of the Company prior to the
Subscription. The proceeds of the subscription will be used for
general working capital purposes.
Application has been made to the London Stock Exchange for the
Subscription Shares to be admitted to trading on AIM which is
expected to become effective, and dealings are expected to commence
on or around 31 March 2020 ("Admission"). The Subscription Shares
will rank pari passu with existing ordinary shares in the capital
of the Company ("Ordinary Shares").
Following Admission, and in accordance with the Financial
Conduct Authority's ("FCA") Disclosure and Transparency Rules, the
Company hereby announces that it will have 141,367,955 Ordinary
Shares in issue, each share carrying the right to one vote. The
Company does not hold any Ordinary Shares in treasury.
Following Admission, the above figure of 141,367,955 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 to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Contact Details
Cantor Fitzgerald Europe (Nominated
Star Phoenix Group Ltd Adviser and Broker)
Evgenia Bezruchko (Group Corporate David Porter / Rick Thompson (Corporate
Development Manager & Joint Company Finance)
Secretary) t. +44 (0)20 7894 7000
e. admin@starphoenixgroup.com
t. +44 (0)20 3865 8430
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
IOESEASUIESSEFD
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