Issue of shares

RNS Number : 8874A

Roxi Petroleum Plc

26 March 2013

 



For immediate release                                                         26 March 2013

Roxi Petroleum plc

("Roxi" or "the Company")

Issue of shares

The Board of Roxi is pleased to announce that it has agreed to issue 22,654,731 new Roxi shares in satisfaction of a $2.5 million debt. The effective issue price for these new shares is 7.412668p based on a £ / $ exchange rate of $1= £0.671728.

The new shares will be issued to Raditie N.V. in return for their previous payments made in respect of Roxi's Munaily asset.

Following the issue of the new shares Raditie N.V will be interested in 59,654,731Roxi shares out of an enlarged total of 716,036,441 representing 8.6 per cent.

Roxi will apply for the 22,654,731 shares to be admitted to trading on AIM following and it is anticipated that trading in such shares will commence on 3 April 2013.

Following Admission of the new shares, the Company will have 716,036,441 Ordinary Shares in issue. This figure may be used by Shareholders, from Admission 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 FSA's Disclosure and Transparency Rules.

Enquiries

Roxi Petroleum PLC                                                              c/o Buchanan

Clive Carver, Chairman                                                [phone]

WH Ireland plc           

James Joyce / James Bavister                                        [phone]

Buchanan (Financial PR)

Tim Thompson / Tom Hufton                                        [phone]

 

END

 

 

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