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Solo Oil Plc (SOLO)

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Monday 06 August, 2018

Solo Oil Plc

Result of AGM, Issue of Equity and TVR

RNS Number : 9625W
Solo Oil Plc
06 August 2018
 

FOR IMMEDIATE RELEASE                                                                                       

              6 August 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

SOLO OIL PLC

("Solo" or the "Company")

 

Result of Annual General Meeting

Issue of Equity

and

Total Voting Rights

 

The Directors of Solo Oil plc (SOLO: AIM) (the "Board") are pleased to announce that at the Annual General Meeting held earlier today, all resolutions were passed.

 

Issue of Equity under the Placing

 

Accordingly, and further to this morning's announcement relating to a placement of equity through both a firm placing (the "Firm Placing") and a placing conditional on the passing of Resolutions 4 and 5 (the "Conditional Placing"), the Company has issued and allotted 69,427,000 new ordinary shares of 0.2p each (the "Ordinary Shares") (the "Conditional Placing Shares") at the issue price of 2.25p per share (the "Issue Price"). 

 

Through the issue of the Conditional Placing Shares, together with the 37,883,847 new Ordinary Shares issued and allotted at the Issue Price under the Firm Placing  (the "Firm Placing Shares"),

the Company has raised, in aggregate, approximately £2.41 million (before expenses)

 

Application for Admission

 

Application will be made for the Firm Placing Shares and the Conditional Placing Shares to be admitted to trading on AIM ("Admission").  Admission is expected to occur at 8.00 a.m. on Thursday 16 August 2018. The Firm Placing Shares and the Conditional Placing Shares will, on Admission, rank pari passu with the Company's existing Ordinary Shares.

 

Total Voting Rights

 

Following Admission, the Company's enlarged issued share capital will comprise 579,264,801 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 579,264,801 Ordinary Shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

For further information:

 

Solo Oil plc

Dan Maling

+44 (0) 20 7440 0642

 

 

Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish/Rosalind Abrahams/Felicity Geidt

+44 (0) 20 7628 3396

 

Shore Capital

Joint Broker

Jerry Keen

 

Buchanan (PR)

Ben Romney / Chris Judd / Henry Wilson

 

+44 (0) 20 7408 4090

 

 

 

+44 (0) 20 7466 5000

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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