Clontarf Energy PLC Placing to raise £250,000 (5022K)
September 22 2016 - 1:01AM
UK Regulatory
TIDMCLON
RNS Number : 5022K
Clontarf Energy PLC
22 September 2016
22(nd) September 2016
Clontarf Energy plc
("Clontarf" or "the Company")
Placing to raise GBP250,000
The Directors of Clontarf (AIM: CLON) are pleased to announce
that, in response to exceptional institutional demand, the Company
has raised GBP250,000 (before expenses) via the placing of
47,619,048 ordinary shares (the "Placing Shares") with new and
existing investors at an increased price of 0.525p per Placing
Share (the "Placing"). The Placing Shares represent approximately
8.18% of the Company's issued share capital as enlarged by the
Placing.
The net proceeds of the Placing will fund any costs associated
with the ongoing negotiations regarding the Company's Ghanaian
assets and will also provide the Company with additional working
capital, as the Company's board continues to assess new projects in
areas which may become available for exploration.
The Placing shares will rank pari passu with the Company's
existing ordinary shares of 0.25p each (the "Ordinary Shares").
Application will be made for the Placing Shares to be admitted to
trading on AIM ("Admission") and it is expected that such Admission
will become effective on or around 27(th) September 2016.
Following the Admission of the Placing Shares, there will be a
total of 581,844,829 Ordinary Shares in issue with each share
carrying the right of one vote. The above figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change to their interest in, the Company under the FCA's Disclosure
Guidance 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 http://clontarfenergy.com
or contact:
Clontarf Energy plc
John Teeling, Chairman +353 (0) 1 833 2833
David Horgan, Director
Nominated Adviser and Broker
Northland Capital Partners Limited
David Hignell / Gerry Beaney (Corporate Finance) +44 (0)20 3861 6625
John Howes (Broking)
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Camilla Horsfall +44 (0) 7871 841 793
Nick Elwes +44 (0) 7831 851 855
Rachael Brooks
Jonathan Garfield
PSG Plus
Colm Heatley +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
This information is provided by RNS
The company news service from the London Stock Exchange
END
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