Baron Oil PLC Result of General Meeting (6212F)
10 Marzo 2020 - 1:49PM
UK Regulatory
TIDMBOIL
RNS Number : 6212F
Baron Oil PLC
10 March 2020
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
10 March 2020
Baron Oil Plc
("Baron" or "the Company")
Result of General Meeting
Baron Oil Plc (AIM:BOIL), the AIM-listed oil and gas exploration
and production company focused on opportunities in SE Asia, Latin
America and the UK, is pleased to announce that all resolutions
were duly passed at its General Meeting held earlier today.
Voting Result % in Favour
Resolution
1 99.99
------------
Resolution
2 99.99
------------
Resolution
3 99.99
------------
As a result, the Company has concluded the raise of GBP2.5
million (gross) by way of a Placing of new ordinary shares of
0.025p each ("New Ordinary Shares") at a price of 0.1 pence per New
Ordinary Share. The directors subscribed for 57,500,000 New
Ordinary Shares.
It is intended that the proceeds of the Placing will be used to
fund Baron's share of the ongoing TL-SO-19-16 PSC ("Chuditch PSC")
work programme in Timor-Leste, the drilling of the onshore El
Barco-3x well in Peru and provide additional working capital.
Malcolm Butler, Executive Chairman of Baron Oil, commented:
"Now that we have this additional funding in place, we have the
opportunity to generate significant value for shareholders through
our investment in SundaGas (Timor-Leste Sahul) Pte.Ltd, parent
company of the Operator of the Chuditch PSC, and the drilling of
the low-cost, low-risk El Barco-3x well in Peru."
Application for Admission
A total of 2,500,000,000 New Ordinary Shares are being issued
pursuant to the Fundraising, of which 735,714,286 First Tranche
shares were admitted to trading on AIM on 19(th) February 2020,
with the balance of 1,764,285,714 Second Tranche shares expected to
be admitted to trading on AIM on 11(th) March 2020. The New
Ordinary Shares will rank pari passu in all respects with the
existing ordinary shares.
Total Voting Rights
Following Admission of the Second Tranche shares, the Company's
share capital and total voting rights will comprise 4,426,409,576
ordinary shares. The Company does not hold any shares in treasury.
Consequently, 4,426,409,576 is the figure which may be used by
shareholders as the denominator for the calculation 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 FCA's
Disclosure and Transparency Rules.
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, Caroline Rowe
Turner Pope Investments (TPI) Limited +44 (0)20 3657 0050
Joint Broker
Andy Thacker, Zoe Alexander
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
ROMEAADEFLXEEFA
(END) Dow Jones Newswires
March 10, 2020 08:49 ET (12:49 GMT)
Grafico Azioni Baron Oil (LSE:BOIL)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Baron Oil (LSE:BOIL)
Storico
Da Apr 2023 a Apr 2024