7 July 2017
Altona Energy
Plc
(“Altona” or “the Company”)
Placing to Raise
£150,000
The Company announces it has raised £150,000 from a placing of
100,000,000 new ordinary shares of 0.1p each in the Company (the
“Placing Shares”) at an issue price of 0.15p per share through a
placing with new investors.
The funds will be used for working capital purposes during the
period of negotiation between the Company and Tri-Star Petroleum
Company Inc. following the intervention of the South Australian
Government, and, should these negotiations be unsuccessful, to then
allow the Company time to consider an alternative strategy either
with its existing Mineral Exploration Licences, or by acquiring new
assets in a different location.
Details of the Placing
The Placing Shares will rank pari passu with the existing
ordinary shares. An application has been made for the Placing
Shares to be admitted to trading on AIM which is expected to occur
on 12 July 2017 (“Admission”).
Total Voting Rights
Following Admission the Company’s enlarged issued share capital
will comprise 991,956,853 ordinary shares with voting rights.
The Company has no shares held in Treasury. This figure of
991,956,853 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 in the their interest in, the share capital of the Company
under the FCA’s Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
-ends-
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy
plc
Qinfu Zhang, Executive Chairman |
+44 (0)7555 679
245 |
Leander (Financial
PR)
Christian Taylor-Wilkinson |
+44 (0)7795 168
157 |
Northland Capital
Partners Ltd (Nomad and Broker)
Matthew Johnson / Gerry Beaney (Corporate Finance)
John Howes (Corporate Broking)
|
+44 (0)20 3861
6625 |
About Altona
Altona is listed on the London Stock Exchange’s AIM
market. Its principal focus is on the evaluation and
development of the Company’s flagship Arckaringa Project to exploit
the significant coal resources contained in three exploration
licences covering 2,500 sq. kms in the northern portion of the
Permian Arckaringa Basin in South Australia. The Project is
designed to produce syngas products for the Australian market and
export from a resource exceeding 7.8 billion tonnes of coal (1.3
billion tonnes JORC compliant).