Asia Energy PLC
29 November 2005
Asia Energy PLC
29 November 2005
Cash Placing ('Placing') raises US$52 m before expenses
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States, Canada, Australia, Japan, France, New
Zealand or the Republic of Ireland or any jurisdiction in which such publication
or distribution is unlawful.
Further to the announcement by Asia Energy PLC ('Asia Energy') dated 29 November
2005 setting out details of a cash placing and following completion of the
bookbuilding process, Asia Energy is pleased to announce the placing price and
the number of shares being placed.
Asia Energy confirms that a total of 6,740,000 shares have been placed by
JPMorgan Cazenove at a price of 450 pence per share, raising approximately
US$52m before expenses. Of the total number of shares being placed, 4,143,976
shares have been placed firm and 2,596,024 have been placed conditionally
subject to shareholder approval of certain resolutions to be proposed at an EGM
which has been convened for 22 December 2005.
Application for all the shares to be admitted to trading on AIM will be made.
It is expected that admission of and settlement for the 4,143,976 shares that
have been placed firm will be on 5 December 2005.
It is expected that admission of and settlement for the 2,596,024 shares that
have been placed subject to shareholder approval at the EGM will be on 23
All the placing shares will be credited as fully paid and will rank pari passu
in all respects with the existing Ordinary Shares of 10 pence each, including
the right to receive all dividends and other distributions declared, made or
paid after the date of issue.
Asia Energy PLC tel: +44 (0)20 7079 1798
David Lenigas - Joint Managing Director
Michael Frayne - Joint Managing Director
JPMorgan Cazenove Limited tel: +44 (0) 20 7588 2828
Parkgreen Communications tel: +44 20 7493 3713
This announcement has been issued by, and is the sole responsibility of Asia
Members of the general public are not eligible to take part in the Placing. In
the United Kingdom, this announcement, in so far as it constitutes an invitation
or inducement to participate in the Placing, is directed exclusively at persons
who have professional experience in matters relating to investments who fall
(i) article 19(5) (investment professionals) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended)
(the 'Order') or are persons falling within article 49(2)(a) to (d) (high net
worth companies, unincorporated associations etc) of the Order (all such persons
together being referred to as 'relevant persons'); and
(ii) section 86(7) (Qualified Investors) of Financial Services and
Markets Act 2000
This announcement, in so far as it constitutes an invitation or inducement to
participate in the Placing, must not be acted on or relied on by persons who are
not relevant persons. Any investment or investment activity to which this
announcement or the Placing relates is available only to relevant persons and
will be engaged in only with relevant persons. As regards all persons other than
relevant persons, the details of the Placing and the bookbuilding process set
out in this announcement are for information purposes only.
JPMorgan Cazenove is acting for Asia Energy plc and no one else in connection
with the offer and will not be responsible to any other person for providing the
protections afforded to their respective clients, or for providing advice in
relation to the proposed offer.
This announcement is not an offer for sale of the securities in the United
States, and the securities may not be sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act of
1933, as amended.
This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia, Japan, France, New Zealand or the Republic of
Ireland. This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire ordinary shares in the capital of
Asia Energy plc in the United States, Canada, Australia, Japan, France, New
Zealand or the Republic of Ireland or any jurisdiction in which such an offer or
solicitation is unlawful. No public offering of securities will be made.
This information is provided by RNS
The company news service from the London Stock Exchange