Baron Oil PLC Update on GM Circular & Issue of warrants (5268D)
February 20 2020 - 1:00AM
UK Regulatory
TIDMBOIL
RNS Number : 5268D
Baron Oil PLC
20 February 2020
Baron Oil Plc
("Baron" or "the Company")
Update on GM Circular
Issue of warrants
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration
and production company, focused on opportunities in SE Asia, Latin
America and the UK notes that on 21 February 2020 it will be
posting its circular to shareholders setting out details of a
general meeting to be held at 200 Strand London WC2R 1DJ at 11 a.m.
on 10 March 2020 ("GM") in connection with its conditional Placing
and Subscription to raise GBP2.5 million (gross) at a price of 0.1p
per New Ordinary Shares (the "Circular").
Further to the Company's announcement of 14 February 2020, as
part of the Placing arrangements Turner Pope Investments (TPI)
Limited, have been granted 36,785,714 Warrants relating to Tranche
1 of the Placing Shares; a further 80,339,286 Warrants relating to
Tranche 2 of the Placing Shares will be granted on the passing of
the requisite resolutions at the GM. Both sets of Warrants have a
three year life from the date of the Admission of the relevant New
Ordinary shares with each warrant conferring a right to acquire a
New Ordinary Share at 0.1p.
Subsequent to posting, the Circular will be made available for
download from the Company's website ( https://www.baronoilplc.com/
).
For further information, please contact:
Baron Oil Plc +44 (0)20 7117 2849
Dr Malcolm Butler, Executive Chairman
Andy Yeo, Managing Director
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill, Stephen Wong
Turner Pope Investments (TPI) Limited +44 (0)20 3657 0050
Joint Broker
Andy Thacker, Zoe Alexander
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END
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