REG - Westmount Energy Ld - Subscription Extension to raise £0.573 million

Westmount EnergyAnnouncement

28/08/2019 07:05

RNS Number : 3299K
Westmount Energy Limited
28 August 2019
 


The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company and for the avoidance of doubt this announcement is not an offer and not capable of being accepted.
 
 
28 August 2019
 
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")


Subscription Extension to raise additional £0.573 million
 
Further to the Subscription announcement dated 23 August 2019, the Board of Westmount is pleased to announce a conditional subscription to raise further gross proceeds of approximately £0.57 million (the "Subscription Extension") through the issue of  4,409,999 new ordinary shares of nil par value (the "Subscription Extension Shares") at 13 pence per share (the "Issue Price") to certain existing investors.
 
In line with the Subscription announced on 23 August 2019, the proceeds of the Subscription Extension will be used to pursue Westmount's ongoing investment strategy, focused on the Guyana-Suriname Basin, as well as for general corporate purposes.
 
Details of the Subscription Extension
The Company has received valid applications in respect of 4,409,999 Subscription Extension Shares pursuant to the Subscription Extension. Application has been made for the Subscription Extension Shares to be admitted to trading on AIM, and it is expected that admission occur at 8.00 a.m. on 2 September 2019.
 
The Subscription Extension Shares will rank, on issue, pari passu in all respects with the existing issued ordinary shares and will be issued free from all liens, charges and encumbrances.
 
The Subscription Extension is conditional on admission of the Subscription Extension Shares becoming effective on or before 8.00 a.m. on 2 September 2019 (or such later date as may be notified by the Company but in any event not later than 8.00 a.m. on 15 September 2019). The Subscription Extension is not subject to shareholder approval.
 
 
For further information, please contact:




Westmount Energy Limited


www.westmountenergy.com




David King, Director
Jane Vlahopoulou


Tel: +44 (0)1534 823133




Cenkos Securities plc Nomad and Broker


Tel: +44 (0)20 7397 8900




Nicholas Wells / Harry Hargreaves (Corporate Finance)


 




 




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