22 Sep 2014 10:15
For immediate release | 22 September 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 £500,000 of Darwin's Convertible Loan Notes at a gross conversion price of 1.0p per share. Details of the Convertible Loan Notes ("CLNs") were announced by Kea on 23 May 2014 pursuant to which 50,000,000 ordinary shares (the "Conversion Shares") now fall to be issued. These shares represent the final tranche of Conversion Shares to be issued in connection with the CLNs facility announced on 23 May 2014.
Application has been made for the Conversion Shares to be admitted to trading on AIM with admission expected to take place on 26 September 2014. The Conversion Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Conversion Shares, the Company's enlarged issue share capital will comprise 939,869,567 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 James Bavister | 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.