Borders & Sth. Regulatory News (BOR)

26 Sep 2007 15:40

Borders & Southern Petroleum plc26 September 2007 For immediate release: 26 September 2007 Borders & Southern Petroleum PLC ("Borders & Southern" or the "Company") Subscription of new ordinary shares by PGS Application has been made for the 16,656,670 new ordinary shares in the Company recently agreed to be subscribed by PGS Overseas AS to be admitted to trading on AIM, with admission and completion of the subscription expected to take place on 2 October 2007. Following such admission, the total number of ordinary sharesin issue will be 194,344,170. Borders & Southern further announces that following the subscription the holdings of the directors who hold more than 3% of the Company's issued share capital will be as follows: Total Shares Held % of the Issued Share Capital following the Subscription Harry Dobson 26,670,000 13.72%Stephen Posford 26,670,000 13.72%Howard Obee 10,000,000 5.15% The ordinary shares in which Harry Dobson is interested in are held by the Zila Corporation, a company owned by the Whitmill Trust Company limited, as trustee of The Lotus Trust of which he is a beneficiary. For further information, please call: Howard Obee, Chief Executive Christopher CaldwellBorders & Southern Petroleum plc Insinger de BeaufortTel: 020 7661 9348 Tel: 020 7190 7022 Clemmie CarrTavsitock CommunicationsTel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange