Xplorer PLC Issue of Equity (5161D)
March 31 2014 - 2:00AM
UK Regulatory
TIDMXPL
RNS Number : 5161D
Xplorer PLC
31 March 2014
31 March 2014
Xplorer plc
("Xplorer" or the "Company")
Placing of New Shares & Total Voting Rights
Xplorer plc (LSE: XPL), the LSE Main Market listed investing
company, is pleased to announce that it has raised GBP517,500 from
the placing of 1,125,000 new ordinary shares of 1 pence each
("Ordinary Shares") in the Company at 46 pence per Ordinary Share
(the "Placing"). The Placing was over subscribed due to demand from
new investors.
On 12 February 2014, Xplorer announced that together with its
partner and major shareholder, Sprint Capital, it was conducting
due diligence on two possible acquisition candidates for the
Company. The proceeds of the Placing, together with the Company's
existing cash resources, will be utilised in the due diligence and
potential acquisition processes.
John Davies, Chairman, Xplorer, commented:
"We anticipate that due diligence will shortly be completed, and
thus hopefully putting us in a position to transition the
acquisition plan to financial close. We hope that the end result is
that Xplorer will emerge as a considerable oil production &
exploration company.
With every confidence of continuing progress, we expect to make
further announcements next month following the engagement of a
leading investment bank we mentioned in our February trading
update"
Application has been made to the London Stock Exchange and the
Financial Conduct Authority ("FCA") for the new Ordinary Shares to
be admitted to trading on the Standard List of the Main Market of
the London Stock Exchange and the UK Official List ("Admission").
It is expected that Admission will become effective and that
trading in the new Ordinary Shares will commence on 3 April
2014.
Total Voting Rights
As at 31 March 2014, the Company's issued share capital will
comprise of 12,375,100 Ordinary Shares (including the 1,125,000 new
Ordinary Shares). This figure of 12,375,100 Ordinary Shares may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
Enquiries:
Xplorer Plc www.xplorerplc.co.uk
John Roddison, Director +44 207 495 7429
Nicholas Nelson, Corporate Comms. +44 7921 522 920
------------------------------------ ---------------------
Financial Adviser & Broker :
Allenby Capital
Nick Harriss, Director, Corporate
Finance +44 20 3328 5656
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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