Completion of Warrant Scheme

RNS Number : 4667F

Hurricane Energy PLC

17 May 2017

 

For immediate release: 17 May 2017

Hurricane Energy plc

("Hurricane" or the "Company")

Completion of Warrant Scheme

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announced that all of the warrants (the "Warrants") granted to Stifel Nicolaus Europe Limited ("Stifel") on 12 May 2017 (the "Warrant Scheme") have now been exercised by Stifel. Accordingly, there are no further Warrants in issue and the Warrant Scheme has now lapsed.

Of the ordinary shares arising from the exercise of the Warrants, an aggregate of 5,500,000 ordinary shares were sold in the market by Stifel between 12 May and 16 May.

The remaining 19,500,000 ordinary shares were placed today with institutional shareholders of the Company by Cenkos and Stifel at a price of 51 pence. The aggregate net proceeds to the Company from the Warrant Scheme are £12,735,177.

A block listing application has been made to the London Stock Exchange for the admission to trading on AIM of up to 25,000,000 Ordinary Shares (the "Block Listing Shares") with effect from today. The Block Listing Shares will be issued pursuant to the exercise of the Warrants. The Block Listing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company.

Following the conclusion of the Warrant Scheme, Hurricane's total issued and voting share capital will comprise 1,227,988,123 Ordinary Shares.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Contacts: 

Hurricane Energy plc	Dr Robert Trice (Chief Executive Officer)/ Alistair Stobie (Chief Financial Officer)	[phone]
Cenkos Securities plc	Nominated Adviser and Joint Corporate Broker Derrick Lee/Nick Tulloch/Beth McKiernan	[phone]
Stifel Nicolaus Europe Limited	Joint Corporate Broker Callum Stewart/Nicholas Rhodes/Ashton Clanfield	[phone]
Vigo Communications	Public Relations Patrick d'Ancona/Ben Simons	[phone] [e-mail]

 

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