Last checked at 28 Oct 2014 12:59
28 October 2014
Clontarf Energy plc
("Clontarf" or "the Company")
Placing to raise £500,000
Clontarf Energy plc announces that it has raised £500,000 before expenses through a conditional placing ("Placing") of 71,428,571 new ordinary shares ("the Placing Shares") at a placing price of 0.7p per Placing Share.
The proceeds will be utilised for working capital as Clontarf seeks to complete the ratification of the Company's signed Petroleum Agreement on Tano 2A Block, Ghana.
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). Admission is expected to be effective on 12th November 2014. Following Admission of the Placing Shares, the Company's issued share capital will consist of 454,225,781 ordinary shares, with each ordinary share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. This figure of 454,225,781 may therefore 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.
ENDS
For further information please visit http://clontarfenergy.com or contact:
Clontarf Energy plc
John Teeling, Chairman +353 (0) 1 833 2833
David Horgan, Director
James Finn, Director
Nominated Adviser and Broker
Northland Capital Partners Limited
Gavin Burnell/Lauren Kettle +44 (0)20 7382 1100
Charles Laughton (Broking)
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Halimah Hussain +44 (0) 7725 978 141
Camilla Horsfall +44 (0) 7871 841 793
Pembroke Communications
Natalie Tennyson +353 (0) 1 649 6486
Alan Tyrrell +353 (0) 1 649 6486