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Placing

6 Sep 2012 10:00

RNS Number : 6497L
Nostra Terra Oil & Gas Company PLC
06 September 2012
 



Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

 

Placing

Nostra Terra, the AIM oil and gas producer with projects in the USA, is pleased to announce that it has successfully raised £870,000 before expenses by way of a placing of 241,666,667 new ordinary shares of 0.1p each in the capital of the Company ("new Ordinary Shares") at 0.36 pence ("Placing Price") per new Ordinary Share (the "Placing"). The Placing was undertaken with existing and new investors

The net proceeds of the Placing will be used to support the development of the Chisholm Trial Prospect, the acquisition of which was announced on 29 August 2012, and other work in the field.

The 241,666,667 new Ordinary Shares to be issued pursuant to the Placing will rank pari passu in all respects with the existing issued ordinary share capital of the Company. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 11 September 2012.

Commenting on the placing, Matt Lofgran, Chief Executive Officer of Nostra Terra, said: "The Board is delighted with support from existing and new shareholders of the Company who have participated in this placing. We believe the Chisholm Trial Prospect is very exciting for shareholders and, following the placing, NTOG is fully-funded for all current drilling commitments. We now have a significant amount of activity in our various drilling programmes and confidence in the prospects in our portfolio. We look forward to updating the market on the activity throughout the remainder of the year."

DIRECTORS' HOLDINGS ON COMPLETION OF THE PLACING

The aggregate interests of the Directors in the Company's issued share capital following completion of the Placing is set out below:

Director

 

Number of Ordinary Shares

Percentage of the enlarged issued share capital

Sir Adrian Blennerhassett

7,280,200

0.30%

Matt Lofgran

296,842,506

12.32%

Alden McCall

800,000

0.03%

Stephen Oakes

14,166,666

0.59%

TOTAL VOTING RIGHTS

Following the Placing, the issued share capital of the Company will increase by 11.1 per cent to 2,409,609,758 Ordinary Shares of 0.1p each. This figure may be used by shareholders 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 Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).

06th September 2012

For further information, visit www.ntog.co.uk or contact:

 

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

mlofgran@ntog.co.uk Telephone: +1 480 993 8933

 

Shore Capital & Corporate Limited (Nominated Adviser) 

Bidhi Bhoma/ Toby Gibbs Telephone: +44 (0)20 7408 4090

 

Alexander David Securities Ltd

David Scott / Bill Sharp Telephone: +44 (0)20 7448 9812

 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010

 

UPCOMING INVESTOR EVENTS

Nostra Terra will be presenting at the One2One Investor Forum on 19 September in Edinburgh (http://www.proactiveinvestors.co.uk/register/event_details/161), as well as the Shares Magazine/MRQ Investor Evening on 10 October in London (http://investoreveninglondon10october.eventbrite.co.uk/).

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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