SacOil, the independent Pan-African upstream oil and gas company, announces that it has raised ZAR5, 000,000 by the issue of 11,111,112 new ordinary shares of no par value in SacOil ("Ordinary Shares") to Peregrine Securities Pty Ltd ('Peregrine') at a price of ZAR0.45 per Ordinary Share being a 10% discount to the 30 day VWAP of Ordinary Shares on 16 January 2012, the day prior to the signing of an irrevocable undertaking by Peregrine to subscribe for Ordinary Shares.
Application has been made for these Ordinary Shares to be listed on the JSE Limited ('JSE') and admitted to trading on the AIM Market of the London Stock Exchange plc and such listing and admission are expected to occur no later than 1 February 2012.
For further information, please contact:
The Standard Bank of South Africa Limited
AIM Nominated Adviser and Joint Broker
Matthew Robinson / Christopher Raggett
+44 (0)20 7220 0500
Joint Broker (United Kingdom)
Shore Capital Stockbrokers Ltd
Jerry Keen / Bidhi Bhoma
+44 (0)20 7408 4090
Public Relations (South Africa)
The Riverbed Agency (SA)
Raphala Mogase / Bongiwe Moeli
+27 (0) 11 783 7903
Public Relations (United Kingdom)
Pelham Bell Pottinger (UK)
Philip Dennis/ Nick Lambert/Rollo Crichton-Stuart
+44 (0)20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.