Wildcat Petroleum PLC Result of Equity Issue (2083Q)
October 16 2023 - 2:40AM
UK Regulatory
TIDMWCAT
RNS Number : 2083Q
Wildcat Petroleum PLC
16 October 2023
16 October 2023
Wildcat Petroleum Plc
("Wildcat", "WCAT" or the "Company")
Placing raising GBP450,000
Wildcat Petroleum plc (LSE: WCAT), a company targeting
investment opportunities in business and assets within the upstream
sector of the petroleum industry, is pleased to announce the
placing of 375,000,000 new ordinary shares at a price of 0.12p
raising, GBP450,000, (GBP393,750, net of expenses). The new
Ordinary Shares will rank pari passu with the Company's existing
issued Ordinary Shares. The Company intends to allot and issue
these new
ordinary shares under its existing authorities on a non pre-emptive basis.
The Company will be making its application to admit the new
ordinary shares to the Official List of the FCA and to trading on
the Main Market (Standard List) of the LSE. Admission is expected
to occur on 30 October 2023.
Conditional on Admission, the Company's issued ordinary share
capital will be 2,803,040,000 Ordinary Shares, which 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 share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
Mandhir Singh, Chairman of Wildcat, commented:
"The Company is delighted to have raised additional funds in
difficult market conditions. These net proceeds of the
over-subscribed placing will be used to strengthen the balance
sheet and provide the Company with sufficient working capital
whilst it works towards a production sharing agreement with the
Sudanese government.
Enquiries:
Wildcat: Mandhir
Singh msingh@wildcatpetroleum.co.uk
Guild Financial
Advisory: Ross Andrews
ross.andrews@guildfin.co.uk
Clear Capital Corporate
Broking : Bob Roberts
+44 (0) 2038696080
Notes to Editors:
Wildcat Petroleum (LSE:WCAT) is listed on the standard segment
of the official list, with shares traded on the main market of the
London Stock Exchange. WCAT is seeking to acquire projects or a
business operating in the upstream sector of the petroleum industry
- namely exploration, appraisal, development and production of oil
and gas, with a primary focus on assets that are at the later
phases of exploration and production.
https://www.wildcatpetroleum.co.uk/
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END
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