Serica Energy Regulatory News (SQZ)

13 Dec 2007 07:01

Serica Energy plc13 December 2007 For Immediate Release: THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY ORINDIRECTLY, IN, INTO, OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN ORANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOTAN OFFER OF SECURITIES IN THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR ANYJURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. This announcement is solely the responsibility of the Company and its directors.Neither JPMorgan Cazenove Limited ("JPMorgan Cazenove"), nor Tristone CapitalInc. ("Tristone"), nor any of their respective subsidiaries, directors,employees or agents accept any liability whatsoever for the accuracy of anyinformation or opinions contained in this announcement or for the omission ofany material information, for which they are not responsible. SERICA ENERGY PLC RAISES $52 MILLION FROM EQUITY OFFERING Serica Energy plc ("Serica", or the "Company") is pleased to announce thepricing and other terms of the previously announced offering of Ordinary Sharesof Serica, which will be placed by way of a private placement in the UnitedKingdom and pursuant to a short form prospectus in the Canadian provinces ofBritish Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The closing ofthe offering is currently expected to take place on or about January 7, 2008. JPMorgan Cazenove is sole financial adviser, sole bookrunner, joint underwriterand co-manager for the offering. Tristone is acting as joint underwriter andco-manager for the offering. Completion of the offering is also subject tocertain customary conditions, including regulatory approval from the relevantsecurities regulators in Canada, and on the terms of the Placing Agreementbecoming unconditional in all respects. Under the terms of the Placing Agreement dated December 10, 2007, and madebetween the Company, JPMorgan Cazenove and Tristone, the joint underwriters haveagreed to use their reasonable endeavours to procure subscribers for 24,770,354new Ordinary Shares at a price of £1.02, or CAD$2.10 per Ordinary Share. Subject to and upon completion of the offering, the proceeds from thesubscription for the new Ordinary Shares will be used by Serica to support itsexploration and field appraisal drilling programme in 2008/9 in South East Asia,the UK, Norway, Spain and Ireland. Further information on Serica Energy plc Serica Energy plc is an international oil and gas exploration and productioncompany with activities focussed on Western Europe and South East Asia and hasoperations in the UK North Sea, Norway, Ireland, Spain, Indonesia and Vietnam.Serica is a publicly-traded company and its Ordinary Shares are listed on theAIM market of the London Stock Exchange and in Toronto, Canada on the TSXVenture Exchange with the share symbol ''SQZ'' on both markets. EnquiriesSerica Energy PlcPaul Ellis, Chief Executive Officer +44 (0)20 7487 7300Chris Hearne, Chief Financial Officer +44 (0)20 7487 7300 JPMorgan Cazenove Limited (NOMAD to the Company)Steve Baldwin +44 (0)20 7588 2828 Tristone Capital LimitedSimon Ashby-Rudd +44 (0)20 7355 5871 Tristone Capital Inc.Josh Woitas +1 (403) 539 8537 Pelham Public RelationsAlisdair Haythornthwaite +44 (0)20 7743 6676 THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE General Each of JPMorgan Cazenove and Tristone is acting exclusively for the Company asjoint underwriters and co-managers and no one else in relation to the offeringand will not be responsible to any other person (whether or not such person isin receipt of this announcement) for providing the protections afforded to itscustomers or for advising any other person in relation to the offering or anytransaction or arrangement referred to herein. This announcement and the information contained herein is not for publication ordistribution to persons into or from the United States of America, Australia orJapan or in any jurisdiction in which such publication or distribution isunlawful. In the United Kingdom, this announcement is directed only at (A) persons who (i)have professional experience in matters relating to investments and who areinvestment professionals (within the meaning of Article 19(5) of the FinancialServices and Markets Act 2000 (Financial Promotion) Order 2005) and (ii) are "qualified investors" (within the meaning of section 86(7) of the FinancialServices and Markets Act 2000) or (B) to whom information in connection with thepromotion of the offering may otherwise be lawfully communicated (personsfalling within (A) and (B) being ("Relevant Persons"). This announcement, in sofar as it constitutes an invitation or inducement to participate in the proposedoffering or otherwise, must not be acted on or relied on by persons who are notRelevant Persons. Any investment or investment activity in so far as relatingto participation in the proposed offering is available only to Relevant Personsand will be engaged in only with Relevant Persons. The making of an offer (including the proposed offering) in certainjurisdictions or to residents who are citizens of certain jurisdictions ("Foreign Persons"), may be restricted by laws or regulations of the relevantjurisdictions. Foreign Persons should inform themselves about and observe anysuch applicable legal requirements in their respective jurisdiction. This announcement does not constitute an offer to sell or issue, or constitutethe solicitation of an offer to acquire or buy, any ordinary shares to anyForeign Persons to whom it is unlawful to make such offer or solicitation insuch jurisdiction. The securities offered have not been, and will not be, registered under theUnited States Securities Act of 1933, as amended (the "Securities Act") or withany securities regulatory authority of any State or other jurisdiction of theUnited States and, accordingly, may not be offered or sold in the United Statesunless registered under the Securities Act or pursuant to an exemption from suchregistration. No regulatory authority has passed upon or endorsed the merits ofthe offering of the securities or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States. This information is provided by RNS The company news service from the London Stock Exchange