Last checked at 19 Feb 2015 07:00
Roxi Petroleum PLC
("Roxi" or the "Company")
Drawdown under the $40 million equity facility and exercise of options
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news it has called down a further $1.0 million from the $40 million equity facility announced in January 2013 with Mr Satylganov, a Director of the Company. This brings the total called to date to $29.2 million.
The additional $1 million will principally be used to fund the continued development of the Company's flagship BNG asset.
Roxi will accordingly issue a further 8,379,143 shares to Mr.Satylganov, so that the total number of shares issued to Mr.Satylganov are 244,670,973, representing 27.7 per cent of the enlarged total shares in issue. The price of the shares issued to Mr.Satylganov is 7.41p, based on the agreed exchange rate of £1=$1.61 in the subscription agreement dated 14 January 2013.
Additionally, options over a further 500,000 Roxi shares have been exercised.
Roxi will apply for the 8,879,143 subscription and option exercise shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 25 February 2015. The total number of shares in issue following the issue of these shares will be 884,071,423.
Roxi has no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, 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.
Enquiries:
Roxi Petroleum PLC Clive Carver, Chairman
+7 727 375 0202
WH Ireland Ltd James Joyce / James Bavister
+44 (0) 207 220 1666