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Roxi doubles in value on news of big investment

Tue, 08th Jan 2013 08:57

Roxi Petroleum saw its shares more than double in value after a Kazakh businessman said he would invest 40m dollars in the firm at a huge premium to the current price.Shares rocketed to 4.6p when the AIM opened, after the news that investor Kairat Alpamysovich Satylganov had agreed to subscribe for over 355m new shares at about 7p per share.This would give the former chairman of two of the largest Kazakh banks, Halyk Bank and ATF Bank, a 37.5% holding in the firm.However, as Roxi is not currently governed by the UK Takeover Code the deal would not trigger an automatic takeover offer.Chairman Clive Carver said the investment would take care of the funding needs of Roxi for the foreseeable future and allow the Roxi management team to focus on developing its principal assets.The first $10m will be paid on January 31st 2013, in exchange for the issue to Satylganov of 88,791,429 new shares.This would represent around 14.57% of Roxi's current issued ordinary share capital and 12.71% of its enlarged share capital. The remaining $30m will be called down by the board in exchange for a further 266,374,287 new Roxi shares, to fund work programme commitments at the company's assets.
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12 Jan 2017 16:23

Director dealings: There was a wise lady called Limerick

(ShareCast News) - The wife of Roxi Petroleum director Edmund Limerick splashed out and gained from an uptick. Limerick's wife spent £50,350-worth at a price of 9.5p per share to take her and her husband's holding to 2.235m. Mrs Limerick made the purchase on Wednesday, the day after the oil and gas

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19 Oct 2016 09:03

Roxi Petroleum Makes Further Progress At BNG Contract Area, Kazakhstan

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5 Jul 2016 14:52

Director dealings: Limerick doubles stake in Roxi Petroleum

(ShareCast News) - Roxi Petroleum director Edmund Limerick has doubled his stake in the Central Asian oil and gas company as it battles to advance several wells towards production. Limerick, a former investment banker, diplomat and Central Asia specialist, bought 550,000 ordinary shares at a pri

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5 Jul 2016 09:27

DIRECTOR DEALINGS: Roxi Petroleum Non-Executive Buys Shares

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29 Jun 2016 10:28

Roxi Petroleum Focus Remains On Developing Its Kazakhstan Deep Wells

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22 Jun 2016 15:05

UK Shareholder Meetings Calendar - Next 7 Days

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14 Jun 2016 10:52

DIRECTOR DEALINGS: Roxi Petroleum Non-Executive Ups Interest

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3 Jun 2016 07:10

Roxi Operations Struggle To Make Profit But Production Set To Rise

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11 Apr 2016 10:26

Roxi Petroleum Takes Steps To Counter Blockages At Two BNG Deep Wells

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29 Feb 2016 16:32

Roxi Petroleum's Deep Well A6 Reaches Depth Of 3,700 Metres

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27 Jan 2016 08:42

Roxi Petroleum To Revisit BNG Estimates Following Further Drilling

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21 Jan 2016 10:30

Roxi Petroleum Gets Extension To BNG Contract Area In Kazakhstan

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13 Jan 2016 10:54

Roxi Petroleum Reports Good Flows From BNG Shallow Well

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3 Dec 2015 08:41

Roxi Petroleum Struggling To Complete Flow Tests Due To Blockages

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9 Nov 2015 10:06

Roxi Petroleum Spuds New Well At BNG Project In Kazakhstan

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