Angus Energy PLC Further Equity Placing (6097N)
February 01 2021 - 9:59AM
UK Regulatory
TIDMANGS
RNS Number : 6097N
Angus Energy PLC
01 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. . IN ADDITION,
MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE
MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT
CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS
PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES
1 February 2021
Angus Energy plc
("Angus Energy", "Angus" or the "Company")
Further Equity Placing
Angus is pleased to announce that WH Ireland Limited has,
further to the Placing announced on 27 January 2021 and to satisfy
additional demand, conditionally placed on behalf of the Company a
further 15,000,000 new ordinary shares in the Company (the "Further
Placing Shares") at a price of 1 pence per share to raise gross
proceeds of GBP150,000 (the "Placing"). The Further Placing Shares
were also accompanied by the issue of one warrant to subscribe for
one ordinary share in the Company for each Further Placing Share
(the "Further Placing Warrants"). When issued, the Further Placing
Warrants will be exercisable at any time, for a period of 2 years,
from the date of admission of the Further Placing Shares at the
following exercise prices: 50% at 1.2p; 25% at 1.35p and 25% at
1.5p.
Issue of the Further Placing Shares and the Further Placing
Warrants are conditional on the Company having sufficient authority
to issue the Ordinary Shares and associated warrants, such
authorities will be sought at the upcoming Annual General Meeting
("AGM") of the Company which is anticipated to be held on or around
30 March 2021 and further details of the AGM will be provided in
due course.
The Placing monies will be used by the Company to advance the
Company's current assets and for general working capital
purposes.
Application will be made for the Placing Shares to be admitted
to trading on AIM ("Admission") immediately following the Annual
General Meeting and it is expected that Admission will become
effective on or around 31 March 2021. The Further Placing Shares
will rank pari passu with the existing ordinary shares.
George Lucan, CEO, Angus comments: "We are pleased to welcome
into the recent placing Mr. Frazer Lang of G.P. Jersey Limited as a
significant shareholder with valuable experience elsewhere in the
onshore UK oil and gas sector. We appreciate his continuing support
of the Company as it is engaged in detailed documentation on the
proposed Saltfleetby loan facility."
Frazer Lang, Executive Director, G.P. Jersey comments: "We
regard Angus Energy as a significantly undervalued company and look
forward to the development of the Saltfleetby Gas Field, in
particular, in the coming months."
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208 899 6380
Beaumont Cornish (Nomad) www.beaumontcornish.com
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Limited (Broker)
Katy Mitchell/ Harry Ansell Tel: +44 (0) 113 394 6600
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson Tel: +44 (0) 207 129 1474
Fergus Mellon
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END
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