Hurricane Energy PLC Completion of Warrant Scheme (4667F)
May 17 2017 - 11:45AM
UK Regulatory
TIDMHUR
RNS Number : 4667F
Hurricane Energy PLC
17 May 2017
For immediate release: 17 May 2017
Hurricane Energy plc
("Hurricane" or the "Company")
Completion of Warrant Scheme
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, announced that all of the warrants (the "Warrants")
granted to Stifel Nicolaus Europe Limited ("Stifel") on 12 May 2017
(the "Warrant Scheme") have now been exercised by Stifel.
Accordingly, there are no further Warrants in issue and the Warrant
Scheme has now lapsed.
Of the ordinary shares arising from the exercise of the
Warrants, an aggregate of 5,500,000 ordinary shares were sold in
the market by Stifel between 12 May and 16 May.
The remaining 19,500,000 ordinary shares were placed today with
institutional shareholders of the Company by Cenkos and Stifel at a
price of 51 pence. The aggregate net proceeds to the Company from
the Warrant Scheme are GBP12,735,177.
A block listing application has been made to the London Stock
Exchange for the admission to trading on AIM of up to 25,000,000
Ordinary Shares (the "Block Listing Shares") with effect from
today. The Block Listing Shares will be issued pursuant to the
exercise of the Warrants. The Block Listing Shares will be issued
credited as fully paid and will rank pari passu in all respects
with the existing ordinary shares of the Company.
Following the conclusion of the Warrant Scheme, Hurricane's
total issued and voting share capital will comprise 1,227,988,123
Ordinary Shares. This 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 a change to their
interest in, securities of the Company.
Contacts:
Dr Robert Trice (Chief
Hurricane Executive Officer)/
Energy Alistair Stobie (Chief +44 (0)1483 862
plc Financial Officer) 820
Nominated Adviser
and Joint Corporate
Cenkos Broker
Securities Derrick Lee/Nick +44 (0)131 220
plc Tulloch/Beth McKiernan 6939
Stifel
Nicolaus Joint Corporate Broker
Europe Callum Stewart/Nicholas +44 (0)20 7710
Limited Rhodes/Ashton Clanfield 7600
Vigo Communications Public Relations +44 (0)20 7830
Patrick d'Ancona/Ben 9704
Simons Hurricane@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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