2 Jun 2015 12:35
JKX OIL & GAS plc ("Company")
Potential Equity Placing
The Board of Directors of the Company announces that it has today entered into an agreement with the trustee of the JKX Employee Benefit Trust ("EBT"), under the Company's existing authority, to enable the EBT to subscribe over the next twelve months for shares in the Company at a market-based price. The subscription would not exceed in total five per cent of the Company's existing issued share capital.
The purpose of the proposed equity placing is to provide additional liquidity to the Company and to enable the EBT to have the ability (as required) to subscribe for additional shares in order to meet the purposes of the existing approved employee share schemes. It is not the intention of the EBT to increase its overall holding in the equity of the Company beyond what is required for the purposes of the existing approved employee share schemes.
For further information please contact
Cardew Group T: 020 7930 0777
Anthony Cardew: M: 07770 720 389
Nadja Vetter: M: 07941 340 436