ROC Share Purchase Plan Results

13 Aug 2009 07:00



13 August 2009 

ROC OIL COMPANY LIMITED ("ROC")

STOCK EXCHANGE RELEASE

ROC SHARE PURCHASE PLAN RESULTS

ROC advises the successful completion of its Share Purchase Plan ("SPP").

Applications for approximately A$26.2 million worth of new fully paid ROC ordinary shares ("ROC Shares") were received from eligible shareholders when the SPP offer closed on 7 August 2009. Successful applicants will be issued the full dollar amount of ROC Shares for which they applied, at an issue price for each ROC share of A$0.71, which represents a 9% discount to the institutional placement price of A$0.78.

The issue price was determined, under the SPP terms and conditions, as the lesser of the issue price of the institutional placement conducted on 26 June 2009 and a 5% discount to the volume weighted average price ("VWAP") of ROC Shares traded on ASX during the five trading days up to and including 7 August 2009.

ROC has raised A$95 million through a combination of the SPP and the institutional placement. The proceeds will be used to reduce debt and fund ongoing development activities beyond 2009.

36,918,137 ROC Shares will be allotted on 14 August 2009 and an Application has been made to AIM for admission of the shares. ROC Shares issued under the SPP will be admitted for trading on ASX and AIM on 17 August 2008. Shares will rank pari passu in all respects with existing shares on issue. Transaction confirmation statements are expected to be mailed to participating shareholders on 18 August 2009.

Shareholders with inquiries about the SPP should contact ROC's share registry, Computershare Investor Services Pty Limited, on 1300 517 696 (from within Australia) or +61 3 9415 4672 (from outside Australia).

Matthew Gerber

Manager

Investor Relations & External Affairs 

For further information please contact:

Mr Bruce Clement

Chief Executive Officer

Tel: +61-2-8023-2000

Email: bclement@rocoil.com.au

Or visit ROC's website: www.rocoil.com.au

Michael Shaw

Oriel Securities Limited (Nominated Adviser)

Tel: +44 (0)20 7710 7600

Bobby Morse

Buchanan Communications

Tel: + 44 (0)20 7466 5000

Fax: + 44 (0)20 7466 5001

E-Mail: bobbym@buchanan.uk.com

Mob: +44 (0)7802 875 227