Columbus Energy Resources PLC Result of Open Offer and Total Voting Rights (3239V)
November 02 2017 - 2:00AM
UK Regulatory
TIDMCERP
RNS Number : 3239V
Columbus Energy Resources PLC
02 November 2017
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2 November 2017
COLUMBUS ENERGY RESOURCES PLC
("COLUMBUS" or the "Company")
Result of Open Offer and Total Voting Rights
Columbus is pleased to announce the result of the Open Offer for
up to approximately GBP1.0 million at 5.0 pence per Existing
Ordinary Share, further details of which were set out in the Open
Offer Circular (the "Circular") despatched to Qualifying
Shareholders on 16 October 2017.
The Open Offer has been heavily oversubscribed, with valid
acceptances, including excess applications, for 64,720,401 Open
Offer Shares, being approximately 3.2 times the number made
available under the Open Offer.
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Open Offer Entitlement.
Applications under the Excess Application Facility will be
scaled back pro rata to the number of Excess Shares applied for by
Qualifying Shareholders.
Application will be made for these 20,129,349 Open Offer Shares,
which will rank pari passu in all respects with the Existing
Ordinary Shares, to be admitted to trading on the AIM Market of the
London Stock Exchange. It is expected that Admission of the Open
Offer Shares will occur, and dealings will commence at 8.00 a.m. on
7 November 2017.
The Company has raised total gross proceeds from the Placing,
Subscription and Open Offer of approximately GBP4.1 million via the
issuance of 82,129,349 Placing, Subscription Shares and Open Offer
Shares.
Following Admission, the Company's enlarged issued share capital
will comprise 644,139,184 Ordinary Shares, with voting rights. The
Company does not hold any Ordinary Shares in treasury. Therefore,
the total number of Ordinary Shares in the Company with voting
rights will be 644,139,184. This figure 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 their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.
Leo Koot, Executive Chairman of Columbus, commented:
"We are delighted to have received such a strong response from
our existing shareholders, with the Open Offer being heavily
oversubscribed and acceptances of 3.2 times the Open Offer Shares.
The Open Offer was provided to allow our existing shareholders to
participate on the same terms as the Placing to Schroders, the
institutional investor.
The Company is really building momentum and we will continue to
focus on key operational objectives of progressing development of
the high quality, low risk Goudron Field and advancing the
exploration prospectivity in the South West Peninsula. We look
forward to updating the market on these areas by the end of this
calendar year."
All defined terms in this announcement have the meanings given
to them in the Circular.
Contact Information:
Columbus Energy Resources Plc +44 (0)20 3794
Leo Koot / Gordon Stein 9230
VSA Capital Limited
Financial Adviser & Broker +44 (0)20 3005
Andrew Raca / Justin McKeegan 5000
Beaumont Cornish Limited
Nominated Adviser and Joint Broker +44 (0)20 7628
Roland Cornish / Rosalind Hill Abrahams 3396
Camarco
Public and Investor Relations +44 (0)20 3757
Georgia Edwards / James Crothers 4983
This information is provided by RNS
The company news service from the London Stock Exchange
END
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