THIS ANNOUNCEMENT AND THE INFORMATION
CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES,
CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE
TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ
IN ITS ENTIRETY.
THIS ANNOUNCEMENT IS FOR INFORMATION
PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR
THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE
ACQUIRE ANY NEW ORDINARY SHARES OF EUROPA OIL & GAS (HOLDINGS)
PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION
NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
7 December
2018
Europa Oil &
Gas (Holdings) plc
(“Europa” or the
“Company”)
Result of Open
Offer
Europa Oil & Gas (Holdings) plc, the AIM quoted UK and
Ireland-focussed oil and gas
exploration and production company, announced on 20 November 2018 that it had raised £4.0 million
by the issue of 133,333,338 New Ordinary Shares pursuant to the
Placing at an issue price of 3 pence
per New Ordinary Share. Furthermore, Europa proposed to raise up to
a further £1.0 million by the issue of up to a further 33,487,597
New Ordinary Shares pursuant to an Open Offer, also at an issue
price of 3 pence per New Ordinary
Share.
The Open Offer closed for acceptances at 11.00 a.m. on 6 December
2018. The Company is pleased to announce that it has
received valid acceptances from Qualifying Shareholders in respect
of 9,969,882 Open Offer Shares, including applications for
3,863,166 Open Offer Shares under the Excess Application Facility.
This represents 29.77 per cent. of the maximum Open Offer Shares
available under the Open Offer. Consequently:
-
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Basic Entitlement and any Ordinary
Shares they applied for under the Excess Entitlement facility;
-
the Company will have raised gross proceeds of approximately
£0.3 million through the Open Offer, and the admission of the
9,969,882 Open Offer Shares will become effective at 8.00 a.m. on 10 December
2018; and
-
Open Offer Shares (in uncertificated form) will be credited to
CREST accounts on 10 December 2018
and definitive share certificates for the Open Offer Shares (in
certificated form) will be dispatched to certificated shareholders
in the week commencing 10 December
2018.
Enquiries:
For further information please visit www.europaoil.com or
contact:
Hugh Mackay |
Europa |
+ 44 (0) 20 7224
3770 |
Phil Greenhalgh |
Europa |
+ 44 (0) 20 7224
3770 |
Matt Goode |
finnCap Ltd |
+44 (0) 20 7220
0500 |
Simon Hicks |
finnCap Ltd |
+44 (0) 20 7220
0500 |
Frank Buhagiar |
St Brides Partners
Ltd |
+44 (0) 20 7236
1177 |
Susie
Geliher |
St Brides Partners
Ltd |
+44 (0) 20 7236
1177 |
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular sent to shareholders of the Company on 20 November 2018.
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio
of multi-stage hydrocarbon assets that includes production,
exploration and development interests, in countries that are
politically stable, have transparent licensing processes, and offer
attractive terms. During the 12 months to 31
July 2018, 94 boepd were recovered from three fields. Its
highly prospective exploration projects include six licences
offshore Ireland with the
potential to host gross mean un-risked prospective resources of 6.4
billion barrels oil equivalent and 2.5 tcf undiscovered GIIP across
all six licences.