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Altona Energy Plc Announces Issue of Equity


Monday, 28 Jan 2013 03:40am EST 

Altona Energy Plc announced that it has entered into an agreement for the placing of 90,300,000 new ordinary shares ('the Placing Shares') in the Company at an issue price of 1.5 pence per share to raise GBP 1,354,500 before costs ('the Placing'). The Placing has been arranged by the Company's Broker, Old Park Lane Capital Plc ('OPL'). The Placing is conditional, inter alia, on the receipt of funds in respect of 47,966,667 shares by January 31, 2013 and by February 11, 2013 in respect of the remaining 42,333,333. The Placing Shares will represent 16.07% of the Company's issued share capital immediately following the Placing. The Placing Shares will rank pari passu in all respects with the existing ordinary shares of the Company. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and admission in respect of 47,966,667 is expected on or before January 31, 2013 and on or before February 11, 2013 in respect of the remaining 42,333,333. Pursuant to the Placing, the Company has granted OPL 4,515,000 options to subscribe for ordinary shares in the Company, which will be exercisable at the Placing price of 1.5p per share. The options granted to OPL will have a term of five years from the date of grant. Following completion of the Placing, the Company's total issued share capital will be 561,956,853 ordinary shares. 

Company Quote

1.2
-0.025 -2.04%
18 Dec 2014