REG - Clontarf Energy PLC - Placing to raise £500,000

Clontarf EnergyAnnouncement

20/09/2018 14:55

RNS Number : 4509B
Clontarf Energy PLC
20 September 2018
 


                                                                                                                                                                                               
 
20th September 2018




 
Clontarf Energy plc
("Clontarf" or "the Company")
 
Placing to raise £500,000
 
The Directors of Clontarf (AIM: CLON) are pleased to announce that the Company has raised £500,000 (before expenses) via the placing of 135,135,135 ordinary shares (the "Placing Shares") with new investors at a price of 0.37p per Placing Share (the "Placing").  The Placing Shares represent approximately 18.85% of the Company's issued share capital as enlarged by the Placing.
 
The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects.
 
The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each (the "Ordinary Shares").  Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 26th September 2018.
 
Following the Admission of the Placing Shares, there will be a total of 716,979,964 Ordinary Shares in issue with each share carrying the right of one vote.  The above 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 change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
 
 
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
 
 
Ends
 




 
For further information please visit http://clontarfenergy.com or contact:
 



Clontarf Energy








John Teeling, Chairman


+353 (0) 1 833 2833




David Horgan, Director


















Nominated Adviser and Broker








Northland Capital Partners Limited








Tom Price and Dugald Carlean
 (Corporate Finance)


+44 (0) 20 3861 6625




Rob Rees / Isabella Pierre
 








Joint Broker






 




Novum Securities Limited






 




Colin Rowbury


        +44 (0) 207 399 9400


 














Public Relations








Blytheweigh


+44 (0) 207 138 3206




Simon Woods


+44 (0) 746 643 9633




Camilla Horsfall


+44 (0) 787 184 1793














 
Teneo PSG








Luke Hogg


+353 (0) 1 661 4055




Alan Tyrrell


+353 (0) 1 661 4055









 
 




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 rns@lseg.com or visit www.rns.com.
 
END
 
 
IOEXBLFLVKFEBBB