The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksROSE.L Regulatory News (ROSE)

  • There is currently no data for ROSE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Notice of General Meeting

25 Nov 2016 09:15

RNS Number : 1753Q
Rose Petroleum PLC
25 November 2016
 

25 November 2016

 

Rose Petroleum plc ("Rose" or the "Company")

 

Notice of General Meeting

 

Rose Petroleum plc, the AIM quoted (AIM: ROSE) natural resources company, announces that the Company is today publishing a Circular to convene a General Meeting of shareholders.

 

The Company announced on 19 October 2016 that it had completed a fundraising of £1 million (the "Fundraising") in order to advance the Company's plan to increase cash flow from its Mexico mining and milling operations by restarting joint venture operations with certain mine owners in the area of the SDA Mill (100% owned by Rose) and to provide additional general working capital.

 

Under the terms of the Fundraising, subscribers were issued with one warrant for every two Ordinary Shares taken up under the Fundraising ("Placing Warrants"). The 357,142,857 Placing Warrants are exercisable at a price of 0.25 pence per Placing Warrant at any time in the three years from 26 October 2016. In addition, 42,857,142 warrants were issued to Turner Pope Investments (TPI) Limited, the broker of the Fundraising, with the same terms as the Placing Warrants ("TPI Warrants"). The Placing Warrants and the TPI Warrants (together, the "Warrants") would represent 9.61 per cent. of the enlarged share capital of the Company if they are exercised in full.

 

The Company does not currently have sufficient authority pursuant to the Companies Act 2006 (as amended) to issue sufficient new Ordinary Shares should the Warrants be exercised and, therefore, in accordance with the terms of the Fundraising, the Company is convening a general meeting to seek such authority from Shareholders and an additional authority to support further issues of Ordinary Shares. The Directors are seeking the additional authority as they consider it important to retain flexibility to finance the Company or complete acquisitions through the issue of Ordinary Shares should it be required.

 

The general meeting will be held at 12.00 noon on 13 December 2016 at the offices of Allenby Capital Limited, 3 St. Helen's Place, London EC3A 6AB. The circular containing the notice of general meeting will be sent to shareholders today and will be available to view later today on the Company's website, www.rosepetroleum.com.

 

 

For further information, please contact:

 

Matthew Idiens (CEO)

Chris Eadie (CFO)

Rose Petroleum plc

Tel: +44 (0) 20 7225 4595

Tel: +44 (0) 20 7225 4599

Jeremy Porter / James Reeve / Liz Kirchner

 

James Pope / Ben Turner

 

Allenby Capital

 

Turner Pope Investments

Tel: +44 (0) 20 3328 5656

 

Tel:  +44 (0)20 3621 4120

Graham Herring / Tim Metcalfe

 

IFC Advisory

 

Tel: +44 (0) 20 3053 8671

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
NOGFELSUIFMSEFF
Date   Source Headline
3rd Aug 20067:02 amRNSUranium Update
8th Jun 200612:38 pmRNSAnnual Report and Accounts
15th May 20066:06 pmRNSAGM Statement
10th May 20061:07 pmRNSHolding(s) in Company - Amend
9th May 20066:29 pmRNSHolding(s) in Company
24th Apr 20067:01 amRNSFreeport Agreement
6th Apr 20067:01 amRNSPreliminary Results
9th Mar 20069:01 amRNSProject Portfolio Update
16th Jan 20069:00 amRNSTrading Update
16th Jan 20067:01 amRNSChange of Adviser
17th Nov 20057:01 amRNSUranium Property Acquisition
10th Nov 20057:01 amRNSSampling Results
2nd Nov 20059:50 amRNSProduction at Diablito
5th Sep 20057:00 amRNSInterim Results
21st Jul 20057:00 amRNSAcquisition - Copper Prospect
18th Jul 20059:54 amRNSDrilling Report
4th Jul 200510:04 amRNSUpdate on Guadalcazar
26th May 20057:01 amRNSDrilling Report
12th May 200511:44 amRNSResult of AGM
11th May 20057:00 amRNSDiablito Mining Operations
3rd May 20057:00 amRNSUranium Properties Obtained
11th Apr 20058:36 amRNSUranium Update
8th Apr 20057:00 amRNSFinal Results
15th Mar 20059:23 amRNSDrilling Report
7th Mar 20057:01 amRNSNew Uranium Project
4th Mar 20057:00 amRNSDiablito Project Update
18th Feb 20057:02 amRNSDrilling Report
20th Jan 20057:00 amRNSFreeport Agreement Extended

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.