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22 Aug 2008 07:00
Dublin 22 August, 2008
Petroceltic International plc
US$55 MILLION PLACING COMPLETED
Petroceltic International plc ("Petroceltic" or the "Company") announces that following the approval by shareholders of the proposed placing at the Company's recent AGM, Iberdrola has now completed its subscription of US$55 million for a total of 215,769,231 ordinary shares in the Company at a subscription price of Stg£0.13 per share.
Accordingly, application has been made to the London Stock Exchange and Irish Stock Exchange for the balance of 68,303,667 new ordinary shares of nominal value €0.0125 each ("Ordinary Shares") in the capital of the Company to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM") and the IEX Market of the Irish Stock Exchange ("IEX"). Dealing is expected to commence in the Ordinary Shares on 28 August, 2008. These Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares of the Company.
Following this investment, Iberdrola is now the Company's largest shareholder, holding an equity stake of 22.6 per cent in the enlarged ordinary share capital of Petroceltic.
The total number of ordinary shares in issue in Petroceltic is now 953,097,049.
Press enquiries to:
John Craven /Brian O'Cathain
Petroceltic International plc
Tel: +353 1 421 8300
Joe Murray / Joe Heron James Henderson / Alisdair Haythornthwaite
Murray Consultants Pelham PR
Tel: +353 1 498 0300 Tel: +44 20 7743 6676
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