Issue of Equity

RNS Number : 9396E

Mosman Oil and Gas Limited

15 February 2018

 

15 February 2018

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Issue of Equity

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces the Company has raised £500,000 (before expenses) by way of a placing of 45,454,545 new ordinary shares of no par value in the capital of the Company ("Placing Shares") at 1.1p per share (the "Placing").

The proceeds of the Placing will be put towards funding Mosman's evaluation of new acquisition opportunities and for general working capital purposes.

Admission

The Placing is conditional on, inter alia, the Placing Shares being admitted to trading on AIM.  Application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM and dealings are expected to commence at 8:00 a.m. on 21 February 2018. Following the issue of the Placing Shares, the Company's total issued share capital will comprise 344,902,696 Ordinary Shares. 

Following admission, the Company's share capital and total voting rights will comprise 344,902,696 Ordinary Shares and the Company does not hold any shares in treasury.  Consequently, the above figure 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Grant of warrants

Mosman has today granted warrants over a total of 750,000 new ordinary shares to SP Angel in connection with the Placing. The warrants are exercisable at a price of 2 pence for a period of three years from the date of Admission.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director [e-mail] [e-mail]	NOMAD and Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Soltan Tagiev [phone]
Gable Communications Limited Justine James / John Bick [phone] [e-mail]

Updates on the Company's activities are regularly posted on its website

www.mosmanoilandgas.com

 

END

 

 

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