RPT.L Regulatory News (RPT)

3 Jul 2008 09:08



3 July 2008

Regal Petroleum Plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES 

Result of Placing - GBP20.5 million Raised

Regal Petroleum plc ("Regal" or the "Company") announces that it has raised GBP20.5 million before commissions and expenses by the placing completed today of 8,376,840 new ordinary shares of 5 pence each in the capital of the Company (the "Placing Shares") with institutional investors at 245 pence per share (the "Placing"). Merrill Lynch International ("Merrill Lynch") is acting as sole lead manager and bookrunner in relation to the Placing.

The Placing represents in aggregate approximately 4.1 per cent. of the issued share capital of Regal prior to the Placing. The Placing Shares will, when issued, rank pari passu in all respects with the existing issued ordinary shares of Regal, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

The Company will apply for admission of the Placing Shares to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will take place and that trading will commence on 8 July 2008.

The Placing is conditional upon, inter alia, Admission becoming effective. The Placing is also conditional on the Placing Agreement entered into between the Company and Merrill Lynch not being terminated. It is anticipated that the settlement date will be 8 July 2008.

Capitalised terms used, but not defined in this announcement have the same meanings as set out in the Placing Announcement dated 3 July 2008.

Contacts

General

Merrill Lynch, which is authorised and regulated by the FSA, is acting exclusively for the Company and no-one else in relation to the Placing and will not be responsible to any person other than the Company under FSMA, the rules of the FSA or otherwise for providing the protections afforded to its clients or for any matter concerning the Placing or for providing advice in relation to the Placing or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein. Merrill Lynch can be contacted at 2 King Edward Street, London, EC1A 1HQ.

Members of the public are not eligible to participate in the Placing. This announcement is for information purposes only and does not constitute an offer to issue or sell, or the solicitation of an offer to subscribe for or acquire, any securities to any person in any jurisdiction, including without limitation in the United Kingdom, the United States, Canada, Australia or Japan.

The distribution of this announcement and the Placing and/or issue of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or Merrill Lynch, or any of their respective Affiliates that would permit an offer of the Placing Shares or possession or distribution of this announcement or any other offering or publicity material relating to such Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Company and Merrill Lynch to inform themselves about and to observe any such restrictions.

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933 (the "Securities Act") or an exemption therefrom. The Company has not registered and does not intend to register any of its Ordinary Shares under the Securities Act. 

The securities to which this announcement relates may be illiquid and/or subject to restrictions on their resale. Prospective investors in the Placing Shares should conduct their own due diligence on the Placing Shares and the Company. Prospective investors who do not understand the contents of this announcement should consult an authorised financial adviser.