24 Jun 2008 08:13
Ramco Energy plc
("Ramco" or the "Company")
FURTHER RE: ACQUISITION ISSUE OF EQUITY
Further to yesterday's announcement regarding the payment of deferred consideration in respect of the acquisition of Eagle HC Limited ("Eagle"), Ramco, the Aberdeen-based exploration company, confirms that the £0.5 million of deferred consideration for the acquisition will be satisfied through the issue of new ordinary shares in Ramco ("New Shares").
Ramco has today issued 1,317,292 New Shares to the vendors of Eagle. The shares were issued at 37.96p, the average closing mid-market price for the 15 business days immediately prior to the issue of the shares.
Application will be made for the 1,317,292 New Shares to be admitted to trading on the AIM Market and dealings are expected to commence on AIM on 30 June 2008. Following admission of the New Shares, the Company will have 39,148,503 ordinary shares in issue.
24 June 2008
ENQUIRIES:
| Ramco Energy plc | ||
| Steven Bertram | Managing Director | 01224 748480 |
| John East & Partners Limited | ||
| Simon Clements / Bidhi Bhoma | 020 7628 2200 | |
| College Hill | ||
| Nick Elwes | 020 7457 2020 |