i3 Energy PLC Result of Open Offer (0619V)
April 04 2019 - 1:00AM
UK Regulatory
TIDMI3E
RNS Number : 0619V
i3 Energy PLC
04 April 2019
i3 Energy plc
("i3" or the "Company")
Result of Open Offer
Capitalised terms used in this announcement (this
"Announcement") have the meanings given to them in the announcement
made 19(th) March 2019 regarding the proposed placing (the "Posting
of Open Offer Circular"), unless the context provides
otherwise.
Result of Open Offer
i3 Energy plc, an independent oil and gas company with assets
and operations in the UK, is pleased to announce that the Open
Offer to shareholders as announced on 19(th) March 2019 has closed
for acceptances in accordance with its terms.
The Company has received valid applications in respect of a
total of 983,059 new ordinary shares in the Company. The aggregate
amount raised pursuant to the Open Offer is approximately
GBP363,732.
Admission
Further to the Company's announcement of 19(th) March 2019,
application has been made to the London Stock Exchange for the
admission of the Open Offer Shares to trading on AIM ("Admission").
It is expected that Admission will occur and that dealings will
commence at 8.00 a.m. on or around 8(th) April 2019.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that following Admission its issued ordinary share capital
will comprise 87,375,278 Ordinary Shares of GBP0.0001 each. All of
the Ordinary Shares have equal voting rights and none of the
Ordinary Shares are held in Treasury. The total number of voting
rights in the Company will therefore be 87,375,278 on Admission.
The above figure may be used by shareholders, on Admission, as the
denominator for the calculations to determine if they are required
to notify their interests in, or change to their interest in, the
Company.
ENDS
CONTACT DETAILS:
i3 Energy plc
Majid Shafiq (CEO) / Graham Heath c/o Camarco
(CFO) Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint
Broker)
James Joyce, James Sinclair-Ford Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited (Joint
Broker)
Henry Fitzgerald- O'Connor, James Tel: +44 (0) 207 523 8000
Asensio
GMP FirstEnergy (Joint Broker)
Jonathan Wright Tel: +44 (0) 207 448 0200
Camarco
Jennifer Renwick, Jane Glover, James Tel: +44 (0) 203 781 8331
Crothers
Notes to Editors:
i3 is an oil and gas development company initially focused on the North Sea. The Company's
core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, containing
11 MMBO of 2P Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective
Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well
13/23d-8 and the Liberator West extension, both of which i3 hold a 100% working interest in.
The Company's strategy is to acquire high quality, low risk producing and development assets,
to broaden its portfolio and grow its reserves and production.
The information contained within this announcement is deemed by the Company to constitute
inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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