Last checked at 15 Feb 2017 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES.
15 February 2017
Polemos plc
("Polemos" or "the Company")
Placing and Board Appointments
Polemos, the AIM investment company, announces that it has raised £495,000 (before expenses) through the placing of 1,414,285,714 new Ordinary Shares of 0.01pence each (the "Ordinary Shares") at a placing price of 0.035 pence per Ordinary Share (the "Placing Shares") with certain private investors (the "Placing"). The proceeds of the Placing will be used to assist in seeking investment opportunities and potentially making investments in line with the Company's investing policy.
Application will be made for the Placing Shares, which will, on issue, rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and such admission is expected to occur on or around 23 February 2017.
As a result of the Placing, the Company will have 2,938,693,178 Ordinary Shares in issue with voting rights and admitted to trading on AIM (the "Enlarged Share Capital"). This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
In addition the Company has appointed Nicholas ("Nick") Lee and Daniel ("Dan") Maling to the Board, both as Non-Executive Directors, with immediate effect. Further details on both Nick and Dan are set out below.
- Ends -
For further information, please contact:
Polemos plc Hamish Harris
| +44 (0)20 7440 0640 |
Beaumont Cornish Limited (Nominated Adviser and Broker) James Biddle Michael Cornish
| +44 (0)20 7628 3396 |
Peterhouse Corporate Finance (Joint Broker) Lucy Williams
| +44 (0)20 7469 0930 |
The information included below is required under Schedule Two Part (g) of the AIM Rules for Companies:
Dan Maling
Dan Maling has over 15 years of senior commercial management experience primarily in the oil and gas and mining sectors. He has worked with several AIM, ASX and TSX listed companies providing corporate finance, business development and corporate governance advice and is currently Finance Director of AIM listed Solo Oil plc. Dan has a Bachelor of Accounting & Law and is a member of the Institute of Chartered Accountants in Australia.
Daniel John Shilton Maling, aged 41, is or has been in the past five years a director/partner of the following companies:
Current: | Past:
|
East Star Capital (UK) Limited | Octagonal plc |
Energybuild Limited | Stratergy Capital Limited |
Energybuild Group Limited |
|
Energybuild Holdings Limited |
|
Kimmeridge Oil & Gas Limited Solo Oil Plc |
|
Dan Maling currently holds no Ordinary Shares in the Company.
There is no further information to be disclosed in relation to Dan's appointment pursuant to paragraph (g) of Schedule Two of the AIM Rules for Companies.
Nick Lee
Nick Lee read Engineering at St. John's College, Cambridge and began his career at Coopers & Lybrand where he qualified as a chartered accountant. He then joined Dresdner Kleinwort where he worked in their corporate finance department advising a range of companies across a number of different sectors and most recently was a Managing Director and Head of Investment Banking for Dresdner Kleinwort's hedge fund/alternative asset manager clients. Nick is currently Non-Executive Chairman of AIM-listed Paternoster Resources plc ("Paternoster") and a Non-Executive Director of AIM-listed MX Oil plc and Pires Investments plc.
Nicholas Lee, aged 54, is or has been in the past five years a director of the following companies:
Current:
|
Past: |
JL Services Limited | Brady Exploration plc (now known as Metal Tiger plc) |
London Capital Group Holdings plc | Plutus Resources plc (now known as Plutus Powergen plc) |
Boustead Agriculture Limited | Leed Resources plc |
Paternoster Resources plc | Centurion Resources plc (now known as Finnaust Mining plc) |
ACL Capital Limited | Noble Tree Property Investment Limited |
MX Oil plc | Novus Capital Markets Limited |
Atlas Oil and Gas Limited | Paternoster Resources Limited (now known as Viridas Limited) |
Chiswick School |
|
New World Oil and Gas plc |
|
Pires Investments plc |
|
Nick Lee is Executive Chairman of Paternoster in which he holds 16,400,000 ordinary shares representing a percentage holding of 1.61% of the Paternoster's issued share capital. Paternoster holds 375,000,000 ordinary shares in Polemos representing 12.76% of the Company's Enlarged Issued Share Capital.
There is no further information to be disclosed in relation to Nick's appointment pursuant to paragraph (g) of Schedule Two of the AIM Rules for Companies.