Highlands Natural Resources PLC Share subscription raises £3,391,384 (8531W)
November 17 2017 - 7:11AM
UK Regulatory
TIDMHNR
RNS Number : 8531W
Highlands Natural Resources PLC
17 November 2017
17 November 2017
Highlands Natural Resources plc ('Highlands' or 'the
Company')
Share subscription raises GBP3,391,384
Highlands, the London-listed oil and gas company, is pleased to
announce that it has raised GBP3,391,384 before expenses through
the subscription by a single investor for 11,304,616 new ordinary
shares of 5p each (the 'Subscription Shares') at a price of 30p per
Subscription Share (the 'Subscription').
The funds raised will be used to further develop the Company's
core projects, principally drilling wells 3 and 4 at its East
Denver oil and gas hub, the DT Ultravert patented technology and
the Helios 2 prospect.
The Company believes that these new proceeds in addition to the
previously announced financing partnerships fully fund the Company
to achieve all of its near term operational goals.
Admission and Total Voting Rights
Application will be made for admission of the 11,304,616
Subscription Shares to trading on the Official List of the UK
Listing Authority by way of a Standard Listing and to trading on
the London Stock Exchange's Main Market for listed securities
('Admission'). It is anticipated that Admission will occur and
dealings will commence in the Subscription Shares on 24 November
2017. The Subscription Shares will rank pari passu with the
existing ordinary shares of 5p each ('Ordinary Shares').
Following Admission, the total number of Ordinary Shares in
Highlands with voting rights will be 115,963,681. This figure may
be used by Highlands' shareholders as the denominator for
calculations to determine if they have a notifiable interest in
Highlands under the Disclosure and Transparency Rules, or if such
interest has -changed.
Disclosure of notifiable interests
Due to the issue of the above Subscription Shares, although the
number of Ordinary Shares held by Robert Price, Executive Chairman
of Highlands, has not changed, with effect from Admission his
holding will represent 10.35 per cent. of the Company's total
voting rights.
THIS RELEASE CONTAINS INSIDE INFORMATION
**ENDS**
For further information, please contact:
Highlands Natural Resources
plc
Robert Price +1 (0) 303 322 1066
Keith Bayley Rogers
+44 (0) 207 464
Brinsley Holman 4098
St Brides Partners Ltd
+44 (0) 20 7236
Lottie Wadham 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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