Rns...5 May 2010 08:10
Not for release, publication or distribution in or into or from Australia, Canada, Japan, Israel, the Republic of South Africa or the United States of America or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction (each a 'Restricted Jurisdiction'). 5 May 2010 Deo Petroleum plc ("Deo" or the "Company") Firm Subscription and Subscription and Open Offer of 4,400,970 New Ordinary Shares at 13p per share, Capital Reorganisation and Notice of General Meeting Summary * A Firm Subscription to raise approximately £429,000 (before expenses) and a Subscription and Open Offer to raise approximately £143,000 (before expenses). * Pursuant to the Fundraising, a total of 4,400,970 New Ordinary Shares will be issued at 13p per New Ordinary Shares. * Gregor Goodwin to be appointed to the Board as Chief Financial Officer, conditional on Admission. * Highly experienced team of oil and gas industry executives to join the Company as senior executives, conditional on Admission. This summary should be read in conjunction with, and is subject to, the accompanying full text of this announcement. The conditions and certain further terms of the Open Offer are set out in this announcement. It is expected that the circular to Shareholders and the Application Form will be dispatched today, other than in relation to a Restricted Jurisdiction. Enquires: Deo Petroleum plc Tel: 01224 672111 Kevin Burke, Executive Chairman David Marshall, Chief Executive Officer Merchant John East Securities Limited Tel: 020 7628 2200 Bidhi Bhoma / Virginia Bull If you are in any doubt about the action you should take, you are recommended to seek your own personal financial advice immediately from your stockbroker, bank manager, solicitor, accountant or independent financial adviser authorised under the Financial Services and Market Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser. This announcement does not constitute, or form any part of, an offer or invitation to purchase any securities or a solicitation or an offer to buy any securities, pursuant to the Open Offer or otherwise. The Open Offer will be made solely by the circular to be sent to Shareholders and the Application Form, which will contain the full terms and conditions of the Open Offer, including details of how the Open Offer may be accepted. The Directors accept responsibility for all of the other information in this announcement. The Directors (who have taken all reasonable care to ensure such is the case) the information contained in this announcement for which they are respectively responsible is in accordance with the facts and does not omit anything likely to affect the import of such information. Terms defined in the Shareholder circular dated 5 May 2010 have the same meaning in this announcement. The availability of the Open Offer to Shareholders who are not
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