24 Feb 2014 11:10
For Immediate Release | 24 February 2014 |
Kea Petroleum plc
("Kea" or the "Company")
Issue and Allotment of Ordinary Shares following Exercise of Conversion Rights
Kea Petroleum plc (AIM: KEA), the oil and gas company focused on New Zealand, announces that it has received a notice of exercise by Darwin Strategic Limited ("Darwin") to convert £200,000 of Darwin's Convertible Loan Notes at a gross conversion price of 1.0p per share. Details of the Convertible Loan Notes were announced by Kea on 10 January 2014 pursuant to which 20,000,000 ordinary shares (the "Convertible Shares") now fall to be issued.
Application has been made for the Conversion Shares to be admitted to trading on AIM with admission to take place on 28 February 2014. The Conversion Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Shares, the Company's enlarged issue share capital will comprise 739,470,373 ordinary shares with voting rights.
For further information please contact:
Kea Petroleum plc David Lees, Executive Director
| Tel: +44 (0)20 7340 9970
|
WH Ireland Limited (NOMAD) James Joyce Nick Field
| Tel: +44 (0)20 7220 1666 |
Darwin Strategic Ltd. Anand Sambasivan Jamie Vickers
| Tel +44 (0) 20 7491 6512 |
Buchanan Mark Court Sophie Cowles
| Tel: +44 (0)20 7466 5000 |
Notes to Editors
Kea Petroleum is an AIM listed oil and gas exploration company with interests in three petroleum exploration permits in the Taranaki Basin of New Zealand. Kea listed on the London AIM market in February 2010.