Altona Energy Plc Placing
July 07 2017 - 1:00AM
UK Regulatory
TIDMANR
7 July 2017
Altona Energy Plc
("Altona" or "the Company")
Placing to Raise GBP150,000
The Company announces it has raised GBP150,000 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 +44 (0)7555 679 245
Qinfu Zhang, Executive Chairman
Leander (Financial PR) +44 (0)7795 168 157
Christian Taylor-Wilkinson
Northland Capital Partners Ltd (Nomad and +44 (0)20 3861 6625
Broker)
Matthew Johnson / Gerry Beaney (Corporate
Finance)
John Howes (Corporate Broking)
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).
END
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