Oracle Power Regulatory News (ORCP)

16 September 2014

Oracle Coalfields PLC

("Oracle" or "the Company")

Equity Placing

Oracle Coalfields PLC (AIM:ORCP), the UK developer of a lignite coal mine in the south-eastern Sindh Province of Pakistan, announces that it has raised £775,000 (before expenses) via the placing of 62,000,000 new ordinary shares of 0.1 pence each in the Company ("Placing Shares") at a placing price of 1.25 pence per share (the "Placing").

The Placing includes the cash subscription by Oracle Directors, Mr Adrian Loader and Mr Anthony Scutt, as set out in the table below. Oracle's Directors and certain senior employees have subscribed for 2,928,253 shares in lieu of remuneration of £36,603 as part of the Placing.

Amongst the new shareholders, the Company is pleased to welcome Generali Group, the global insurance and financial products group, which has subscribed for 26,400,000 Placing Shares, representing 6.79 per cent. of the enlarged issued share capital of the Company. 

The Placing Shares will represent approximately 15.93 per cent. of the enlarged issued share capital of the Company. Oracle's broker, Peterhouse Corporate Finance, has placed these shares conditionally upon their admission to trading on AIM.

 Shahrukh Khan, CEO of Oracle, said:

 "I am very pleased with the results of this Placing, which demonstrates the support Oracle continues to receive. A number of new investors have participated in the Placing and I welcome them to our shareholder register.

"The Placing represents the latest step towards our goal of developing a producing mine capable of supplying indigenous coal to contribute towards alleviating Pakistan's growing energy crisis while simultaneously delivering long-term sustainable returns for our shareholder base.

"We remain totally committed to achieving these two goals, and would like to thank our shareholders for their confidence and support."

The table below sets out the Directors' and senior employees' participation in the Placing:

Application will be made for the Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. The Placing Shares are expected to be admitted to trading on AIM on 19 September 2014 (the "Admission"). The Placing Shares are being issued under existing shareholder authorities.

Following the Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 389,009,493 ordinary shares. The Company does not hold any shares in treasury. This figure of 389,009,493 ordinary shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Ends

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