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5 May 2015 07:01
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
5 May 2015
New World Oil and Gas Plc ('New World' or 'the Company')
Holding in Company, Internet Commentary, Placing and Cautionary Statement
Holding in Company
On 30 April 2015, the Company received and duly announced a voting rights notification from Mrs Judith Williams in relation to 342,328,669 Ordinary Shares in the Company, which was stated to represent 10 per cent. of the Company's issued voting capital.
This percentage takes into account the shares issuable under the placing as announced on 29 April 2015 ("Placing") which are subject inter alia to the passing of a shareholder resolution at the EGM to be held on 19 May 2015 ("EGM"). The Company is seeking clarification as to the basis of the acquisition of the shares giving rise to this notification and whether the percentage should be stated by reference to the current issued share capital (ie not including the Placing Shares which have yet to be issued) and if so whether there are any regulatory implications.
Internet Commentary
The Company has noted various internet commentary concerning inter alia the high volume of trading in the Company's shares last week and speculating as to the intentions of various alleged shareholders. Anyone wishing to deal in the Company's shares is warned to exercise extreme caution in relation to any views or supposed information offered by these sites.
Placing
The Company has noted the level of investor interest in the Company's shares following the announcement of the Placing and is therefore considering various courses of action in relation to the Placing to ensure that the wider interests of Shareholders are considered. Among other things, the Company is seeking advice on the allotment of Company Shares at the Placing Price to the Company's Shareholders via a rights offering or otherwise. A further announcement will be made as appropriate.
CAUTIONARY STATEMENT
Pending clarification of the matters referred to above, which the Company will, so far as it is in their hands, endeavour to do as soon as possible, investors and Shareholders are warned to exercise caution in dealing in the Company's shares and if in any doubt seek the advice of a person duly authorised and regulated by the Financial Conduct Authority.
For further information please visit www.nwoilgas.com or contact:
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| Frank Buhagiar
James Pope | St Brides Partners Ltd
Cornhill Capital Limited | Tel: +44 (0) 20 7236 1177
Tel: +44 (0) 20 3700 2504 |
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