Altona Energy PLC Subscription and JV Contribution (8287M)
January 25 2016 - 2:00AM
UK Regulatory
TIDMANR
RNS Number : 8287M
Altona Energy PLC
25 January 2016
25 January 2016
Altona Energy plc
("Altona" or "the Company")
Subscription Update and Joint Venture Contribution
Altona (AIM: ANR) is pleased to announce that, further to the
announcement of 18 January 2016, the subscription funds of GBP0.5
million due from Sino-Aus Energy Group Limited ("Sino-Aus") have
been received by the Company. Consequently Altona will now issue
Sino-Aus with 100 million ordinary shares in the Company at a price
of 0.5 pence per share ("New Ordinary Shares") representing 11.2
per cent. of the enlarged share capital.
The Company also announces that its joint venture partner,
Wintask Group Limited ("Wintask"), has made a contribution of
AUD$0.6 million into the joint venture company, Arckaringa Coal
Chemical Joint Venture Co Pty Ltd, thereby completing its first
tranche payment in accordance with the Deed of Variation, announced
on 5 November 2015.
Altona will update the market when the first tranche
contribution of AUD$5.4 million is received from Sino-Aus into the
joint venture company.
Application has been made to the London Stock Exchange for the
New Ordinary Shares, which will rank pari passu with the existing
shares in issue, to be admitted to trading on AIM, and admission is
expected to become effective on 28 January 2016.
Total Voting Rights
The Company's total issued share capital after the admission of
the New Ordinary Shares will be 891,956,853 ordinary shares with
each share carrying the right to one vote. This figure of
891,956,853 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.
-ends-
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy plc
Qinfu Zhang, Executive Chairman +44 (0)7555 679 245
Leander (Financial PR)
Christian Taylor- Wilkinson +44 (0)7795 168 157
Northland Capital Partners Ltd (Nomad and
Broker)
Matthew Johnson / Gerry Beaney (Corporate
Finance)
John Howes (Corporate Broking) +44 (0)20 738 1100
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its
principal focus is on the evaluation and development of the
Company's flagship Arckaringa Project to exploit the significant
coal resources contained in three exploration licences covering
2,500 sq. kms in the northern portion of the Permian Arckaringa
Basin in South Australia. The project is designed to produce syngas
products for the Australian market and export from a resource
exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC
compliant).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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