Final Exercise of Warrants
April 12 2010 - 1:00AM
UK Regulatory
TIDMQOGT
RNS Number : 9533J
Quorum Oil and Gas Tech. Fund Ld
12 April 2010
Not for release, publication or distribution in, or into, the United States,
Canada, Australia or Japan.
+------------------------------+------------------------------+
| Press Release | 12 April 2010 |
+------------------------------+------------------------------+
Quorum Oil and Gas Technology Fund Limited
("Q-OGT", "the Fund" or "the Company")
Final Exercise of Warrants
Further to the announcement issued on 18 March 2010, Quorum Oil and Gas
Technology Fund Limited (LSE:QOGT), a registered closed-ended Guernsey
investment company traded on the London Stock Exchange, is pleased to announce
that 493,180 Warrants were exercised as at the final exercise date of 1 April
2010 at a Conversion Price of US$10, raising approximately US$5 million of new
capital for the Company.
Applications have been made for the 493,180 participating redeemable preferred
shares of US$1 each in the share capital of the Company (the "Shares") resulting
from this exercise of Warrants to be admitted to the Official List and to
trading on the London Stock Exchange. It is expected that admission will take
place at 8 a.m. on 15 April 2010.
The Shares rank pari passu with the Company's existing Shares. In accordance
with the deed constituting the Warrants, the Shares are not entitled to receive
the dividend declared in respect of the three month period to 31 March 2010 to
be paid on 23 April 2010 to Shareholders on the register on 6 April 2010.
Following the issue of the Shares the Company's issued share capital comprises
8,156,348 participating redeemable preferred shares of US$1 each and the total
number of voting rights in the Company is also 8,156,348. This 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 a change to their
interest in, the Company under the FSA's Disclosure and Transparency Rules.
Warrants not exercised by 1 April 2010 have expired worthless.
- Ends -
For further information:
+----------------------------------+--------------------------------+
| Investment Manager | |
+----------------------------------+--------------------------------+
| Quorum Group | |
+----------------------------------+--------------------------------+
| Wanda Dorosz, Managing Partner & | Tel: +1 416 971 6998 |
| CEO | |
+----------------------------------+--------------------------------+
| | wdorosz@quorum.ca |
+----------------------------------+--------------------------------+
| David Sefton, Quorum European | Tel: +44 (0) 7989 333 |
| Partners LLP | 371 |
+----------------------------------+--------------------------------+
| | david.sefton@quorum-london.com |
+----------------------------------+--------------------------------+
+--------------------------------+----------------------------+
| Numis Securities | |
+--------------------------------+----------------------------+
| Nathan Brown, Corporate | Tel: +44 (0) 20 7260 1426 |
| Broking | |
+--------------------------------+----------------------------+
Media enquiries:
+--------------------------------+----------------------------+
| Abchurch | |
+--------------------------------+----------------------------+
| Henry Harrison-Topham / Mark | Tel: +44 (0) 20 7398 7702 |
| Dixon | |
+--------------------------------+----------------------------+
| henry.ht@abchurch-group.com | www.abchurch-group.com |
+--------------------------------+----------------------------+
Notes to editors:
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered
closed-ended investment company incorporated in Guernsey to provide expansion
capital to companies which own and/or are developing proven proprietary
technology which may have a potentially significant effect on the oil and gas
industry. The Fund is managed by the Quorum Group, a 23 year old strategic
sector private equity firm, headquartered in North America, which also has a
subsidiary and office in London, Quorum European Partners LLP. Q-OGT was
admitted to the Official List of the UK Listing Authority and to trading on the
London Stock Exchange on 7 January 2008. Its stock market EPIC is QOGT.L.
Further information can be found at www.q-ogtfund.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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