XPL.L Regulatory News (XPL)

4 June 2015

Xplorer plc

("Xplorer" or the "Company")

Placing of New Shares, Update on Company & Total Voting Rights

Xplorer plc (LSE: XPL), the LSE Main Market listed investing company, is pleased to announce that it has raised £99,000 from the placing of 1,237,500 new ordinary shares of 1 pence each ("Ordinary Shares") in the Company at 8 pence per Ordinary Share (the "Placing").

On 18 December 2014, Xplorer announced that it was in discussions regarding a proposed acquisition of oil and gas assets in Africa (the "Proposed Acquisition"). The Proposed Acquisition would be conditional, inter alia, on the Company raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully. The Proposed Acquisition, if exchanged and completed, would constitute a reverse takeover under the Listing Rules. As the Company was unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules, the Company requested a suspension of trading in its shares.

Since that announcement the Company has been working to progress the transaction. With the weakness of the oil price, relative to the last five years, continuing, the Company has decided to focus on just one of the assets at this time, located in Morocco. The Company continues to be unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules at this time, and the Company's shares remain suspended. The Company hopes to provide further information shortly.

Total Voting Rights

As at 4 June 2015, the Company's issued share capital will comprise of 13,612,600 Ordinary Shares (including the 1,237,500 new Ordinary Shares). This figure of 13,612,600 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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