GWIK.L Regulatory News (GWIK)

30 March 2016

Glenwick Plc

("Glenwick" the "Company")

Completion of £500,000 Placing, Total Voting Rights and Appointment of Technical Consultants

Placing

The Board of Glenwick is pleased to announce that, following further demand from professional investors, Peterhouse Corporate Finance Limited has conditionally raised £500,000 (before expenses) through the placing of 454,545,455 new ordinary shares of no par value each in the Company ("Placing Shares") at a price of 0.11 pence per share. Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place and trading in the Placing Shares will commence on AIM at 8.00am on 31st March 2016.

The proceeds of the placing will be used to further increase the cash reserves of the Company as the Board seeks to accelerate the implementation of Glenwick's investment strategy.

Total Voting Rights

Upon Admission, the Company will have 2,193,396,699 Ordinary Shares in issue. The Placing Shares will rank pari passu with the existing ordinary shares.

The above figure of 2,193,396,699 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Appointment of Technical Consultants

The Company is pleased to announce the appointment of the following technical consultants:

Dr Jacob (Jaap) Poll

Dr Poll, who holds a BSc, MSc, and a PhD in Structural Geology from the University of Leiden in Holland, commenced working in the petroleum industry in 1966. Since then he has held a number of technical and executive positions with the likes of Shell and Woodside, and has been Chief Executive Officer, an advisor to and a Board member of a number of small and medium sized oil and gas companies; most notably Oil Search, Petroz NL (not a related body corporate of Petroz Limited), Otto Energy, and Anzoil.

Dr Poll's 46-year petroleum exploration and production management career has spanned the globe, including the Americas, Europe, the Middle East, South East Asia and Australia. Dr Poll is a certified professional member of the American Association of Petroleum Geology (AAPG) and a Distinguished Member of the Petroleum Exploration Society of Australia (PESA).

Joanne Kendrick

Ms Kendrick is an independent petroleum/reservoir engineering consultant with 20 years experience in the oil and gas industry including with Woodside Energy, Gulf Australia, Newfield Exploration and Nido Petroleum. Ms Kendrick is a member of the Society of Petroleum Engineers.

Commenting on the placing and new appointments, Cameron Pearce, the Chairman of the Company, said:

"The Company is delighted to have attracted industry professionals of the caliber of Jaap and Jo to work as technical consultants and together with the additional placing proceeds, is now well placed to deliver on its investment strategy".

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