Rockhopper Places Shares to Raise 3.8M Pounds
Rockhopper Exploration plc is pleased to announce a placing of 3,780,000 new ordinary shares at a price of 101 pence each by Landsbanki Securities (UK) Limited with institutional investors to raise 3.8 million pounds, before expenses.
The Placing Shares equal, in number, approximately 5% of the ordinary shares currently in issue and will represent 4.7% of the Company's enlarged issued share capital of 80,164,520 ordinary shares immediately following the Placing. The Placing is not underwritten.
"We are delighted with the strong support shown in this placing by our existing institutional shareholders and also to welcome a number of new institutional shareholders to Rockhopper," said Dr. Pierre Jungels CBE, Executive Chairman of Rockhopper Exploration. "The funds raised from the placing announced today will be utilised in preparation for drilling and for working capital and general corporate purposes."
The Placing Shares will rank pari passu in all respect with the existing issued ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM. It is expected that they will be admitted to trading on AIM on or around May 29, 2008.
- ERCE: Sea Lion Complex Could Hold 1.7B Barrels of Oil (May 17)
- Beach Energy Updates on Sale of its Egyptian Subsidiary to Rockhopper (Apr 18)
- Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts (Feb 11)