23 Nov 2017 07:00
Altona Energy Plc - PlacingAltona Energy Plc - Placing
PR Newswire
London, November 22
23 November 2017
Altona Energy plc
(“Altona” or “the Company”)
Placing to Raise £735,000
The Board of Altona (AIM: ANR) is pleased to announce that it has raised £735,000 before expenses through a placing of 147,000,000 new ordinary shares (“Placing Shares”) at an issue price of 0.5p per share (the “Placing”).
The net proceeds of the Placing will primarily be used for further exploration that the Company expects to be identified by the recently commissioned report by Runge Pincock Minarco Global.
Details of the Placing
The Placing Shares will rank pari passu with the existing ordinary shares. An application has been made for the Placing Shares to be admitted to trading on AIM which is expected to occur on 28 November 2017 (“Admission”).
Director’s participation in the Placing
Nick Lyth and Philip Sutherland, who are both directors of the Company, are participating in the Placing subscribing for 4,000,000 and 2,000,000 ordinary shares respectively.
Participation by Substantial Shareholders
Eaton Equities Limited (“Eaton”) and Leon Hogan have each subscribed for 5,000,000 ordinary shares each in the Placing. Following the issue of the Placing Shares they will hold 13.8 per cent. each of the issued share capital. As both Eaton and Leon Hogan are substantial shareholders in the Company their participation in the Placing is deemed a related party transaction under the AIM Rules. The Directors of the Company consider, having consulted with the Company's nominated adviser, Northland Capital Partners Limited, that the participation in the Placing of Eaton and Leon Hogan is fair and reasonable insofar as the Company's shareholders are concerned.
Qinfu Zhang, Executive Chairman of Altona, commented, "We are pleased to have raised this level of new funding with this oversubscribed placing. This will strengthen our balance sheet and provide the necessary capital to ensure that we execute the early stages of our strategy and move the Company towards being operational. In addition to being able to execute further exploratory work, the placing provides sufficient working capital for Altona for 12 months.”
Total Voting Rights
Following Admission, the Company’s enlarged issued share capital will comprise 1,558,956,853 ordinary shares with voting rights. The Company has no shares held in Treasury. This figure of 1,558,956,853 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Nick Lyth | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification /Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Altona Energy Plc | |
| b) | Legal Entity Identifier | 2138002A5GU9BFS2I491 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.01 pence each GB00B06GJT32 | |
| b) | Nature of the transaction | Purchase of shares | |
| c) | Currency | GBP | |
| d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 0.5p | 4,000,000 | ||
| e) | Aggregated information - Aggregated volume - Price - Aggregated total | 0.5p £20,000 | |
| f) | Date of the transaction | 22 November 2017 | |
| g) | Place of the transaction | London Stock Exchange, AIM | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Phil Sutherland | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-Executive Director | |
| b) | Initial notification /Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Altona Energy Plc | |
| b) | Legal Entity Identifier | 2138002A5GU9BFS2I491 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.01 pence each GB00B06GJT32 | |
| b) | Nature of the transaction | Purchase of shares | |
| c) | Currency | GBP | |
| d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 0.5p | 2,000,000 | ||
| e) | Aggregated information - Aggregated volume - Price - Aggregated total | 0.5p £10,000 | |
| f) | Date of the transaction | 22 November 2017 | |
| g) | Place of the transaction | London Stock Exchange, AIM | |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
-ends-
For further information, please visit www.altonaenergy.com or contact:
Enquiries
| Leander (Financial PR) Christian Taylor- Wilkinson | +44 (0)7795 168 157 |
| Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes (Corporate Broking) | +44 (0)20 3861 6625 |