AMYT.L Regulatory News (AMYT)

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

STERLING GREEN GROUP PLC TO BE RENAMED FASTNET OIL & GAS PLC (THE "COMPANY")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

REGISTERED OFFICE AND TRADING ADDRESS

Number 14, The Embankment

Vale Road

Heaton Mersey

Stockport,

Cheshire SK4 3GN

United Kingdom

TRADING ADDRESS

18 Fitzwilliam Place,

Dublin 2,

Ireland

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

http://sterlinggreen.co.uk/sgg/ to become www.fastnetoilandgas.com following admission

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company has, since 1 December 2011, been classified as an investing company under Rule 15 of the AIM Rules for Companies ("AIM Rules"). On 14 May 2012 the Company entered into a conditional agreement to acquire the entire issued share capital of Terra Energy Limited ("Terra") for an aggregate consideration to be satisfied by the issue of 64,129,611 consideration shares and the payment of €40,000. The acquisition constitutes a reverse takeover under Rule 14 of the AIM Rules. The Company is also proposing to raise £10.0 million (before expenses) through a conditional placing of 90,909,091 new ordinary shares (following the share consolidation) to provide further working capital for the enlarged group.

Terra was incorporated in February 2008 and was established to explore and develop unconventional oil and gas resources in Europe and North Africa. Terra has since focused on oil and gas prospects in the Celtic Sea. In addition, Terra plans to avail itself of new potential opportunities in North and East Africa where certain of the proposed directors have significant knowledge, contacts.

On Admission, Terra's assets will include an interest in a net profit bonus arrangement relating to the Connemara prospects offshore Ireland ("NPB Agreement") and 13 coal licenses based in the Connaught Coal Field, onshore Ireland. Terra has also made applications to the Petroleum Affairs Division of the Department of Communications, Energy and Natural Resources of Ireland for three offshore licensing options in the Celtic Sea and an onshore licence in the Dublin Basin.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

163,030,160 ordinary shares of 3.8p each ("Ordinary Shares")

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Placing of 90,909,091 Ordinary Shares at 11p per Ordinary Share to raise £10.0 million

Approximate market capitalisation of £17.93 million on Admission at the placing price

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

25.85%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

The Enterprise Securities Market, a market regulated by the Irish Stock Exchange

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Cathal Martin Friel Non-Executive Chairman

George Henry Stephen Staley CEO

Michael Henry Nolan Non-Executive Director

John Michael Edelson Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Notes:

1. Cathal Friel's interest in new ordinary shares in the Company will include 15,554,857 new ordinary shares held by Raglan Road Capital Limited, a Company in which Cathal Friel and his wife, Pamela Iyer, have a 90 per cent. interest.

2. Michael Edelson's interest in existing ordinary shares in the Company include 1,000,000 shares held by his wife, JB Edelson, 1,750,000 shares held by Novabank Capital Limited and 3,800,390 shares held by London and City Credit Corporation Limited. In addition, Michael Edelson holds 1,000,000 existing ordinary shares non-beneficially as a trustee of The Morris Edelson Settlement.

3. Ian Aspinall has non-beneficial interests in existing ordinary shares in the Company, being 8,250,000 shares held non-beneficially as a trustee of The Blueberry Charitable Trust and 4,000,000 shares held non-beneficially by his wife, J M Aspinall, as a trustee of The Cheshire Children's Charitable Trust.

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 March;

(ii) 31 March 2012; and

(iii) As follows:

a. 6 months ended 30 September 2012 by 31 December 2012;

b. Year ending 31 March 2013 by 30 September 2013; and

c. 6 months ended 30 September 2013 by 31 December 2013;

EXPECTED ADMISSION DATE:

11 June 2012

NAME AND ADDRESS OF NOMINATED ADVISER:

Shore Capital and Corporate Limited

Bond Street House

14 Clifford Street

London W1S 4JU

NAME AND ADDRESS OF BROKER:

Shore Capital Stockbrokers Limited

Bond Street House

14 Clifford Street

London W1S 4JU

J & E Davy,

Davy House,

49 Dawson Street,

Dublin 2,

Ireland

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of the admission document will be available to the public, free of charge, at the registered office of the Company at Number 14 The Embankment, Vale Road, Heaton Mersey, Stockport SK4 3GN, telephone 0161 975 0434 during normal business hours on any weekday (Saturdays and public holidays excepted) for a period of one month from the date of Admission. This document is also available free of charge for such period on the Company's website at http://sterlinggreen.co.uk/sgg/

DATE OF NOTIFICATION:

14 May 2012

NEW/ UPDATE:

NEW