BRIEF-Petroceltic says reaches deal with Worldview Capital over proposed placing

June 16 Mon Jun 16, 2014 4:50am EDT

June 16 (Reuters) - Petroceltic International Plc :

* Reached agreement with Worldview Capital Management SA in relation to certain matters raised by Worldview in connection with proposed placing by company to raise $100 million announced on May 16, 2014

* Board changes will be implemented on appointment of new independent non-executive directors, which is expected to occur immediately

* Subject to terms of agreement, Worldview has undertaken to vote in favour of placing at adjourned extraordinary general meeting of company

* With support of Worldview, it is now anticipated that resolution at EGM to approve placing will be successful and placing will complete in accordance with its terms

* Co has committed to certain board changes, modifications to relationship agreement currently in place between Robert Adair, Skye Investments and certain other matters Source text for Eikon: Further company coverage: