i3 Energy PLC Issue of Equity / Grant of Warrants (1032W)
December 06 2019 - 10:59AM
UK Regulatory
TIDMI3E
RNS Number : 1032W
i3 Energy PLC
06 December 2019
6 December 2019
i3 Energy plc
("i3" or the "Company")
Issue of Equity / Grant of Warrants
i3 Energy plc, an independent oil and gas company with assets
and operations in the UK, announces that further to its
announcement on 8th November 2019 ('Liberator A2 and Funding
Update'), it has now received subscriptions for 14,285,715 new
ordinary shares in the Company at 35 pence per share from funds
managed by Bybrook Capital LLP.
In addition, BP Oil International Limited, funds managed by
Lombard Odier Investment Managers group, and James Caird Asset
Management, being the investors other than Bybrook who participated
in the Company's May 2019 Junior Loan Notes, all took up their
contractual rights to be granted warrants to subscribe for new
ordinary shares in the Company (the "New Warrants") in relation to
the grant to Bybrook of warrants to subscribe for up to 8 million
new ordinary shares in the Company, at an exercise price of 40
pence per share, as announced on 8(th) November 2019 (the "Bybrook
Warrants"). The New Warrants are on the same terms as the Bybrook
Warrants and have been granted over 1,503,798 new ordinary shares
in the Company.
Application has been made for 14,285,715 new ordinary shares in
the Company to be admitted to trading on AIM ("Admission").
Admission is expected to occur on 9(th) December 2019. Following
Admission, the Company will have in issue: 107,719,400 ordinary
shares of GBP0.0001 each, and 5,000 deferred shares of GBP10.00
each. Shareholders may use this figure of ordinary shares as the
denominator by which they are required to notify their interest in,
or change to their interest in, the Company under the Disclosure
Guidance and Transparency Rules.
ENDS
CONTACT DETAILS:
i3 Energy plc
Majid Shafiq (CEO) / Graham Heath c/o Camarco
(CFO) Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint
Broker)
James Joyce, James Sinclair-Ford Tel: +44 (0) 207 220 1666
GMP FirstEnergy (Joint Broker)
Jonathan Wright Tel: +44 (0) 207 448 0200
Canaccord Genuity Limited (Joint Tel: +44 (0) 207 523 8000
Broker)
Henry Fitzgerald- O'Connor, James
Asensio
Camarco
Jennifer Renwick, James Crothers Tel: +44 (0) 203 781 8331
Notes to Editors:
i3 is an oil and gas development company initially focused
on the North Sea. The Company's core asset is the Greater
Liberator Area, located in Blocks 13/23d and 13/23c, to which
i3's independent reserves auditor attributes 11 MMBO of 2P
Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of
mid-case Prospective Resources. The Greater Liberator Area
consists of the Liberator oil field discovered by well 13/23d-8
and the Liberator West extension. The Greater Liberator Area,
along with the Company's Serenity Prospect located in the
northern half of Block 13/23c and for which it carries a STOIIP
of 197 MMbbls, are owned and operated on a 100% working interest
basis.
The Company's strategy is to acquire high quality, low risk
producing and development assets, to broaden its portfolio
and grow its reserves and production.
The information contained within this announcement is deemed
by the Company to constitute inside information under the
Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUGGQAPUPBGAQ
(END) Dow Jones Newswires
December 06, 2019 10:59 ET (15:59 GMT)
I3 Energy (LSE:I3E)
Historical Stock Chart
From Mar 2024 to Apr 2024
I3 Energy (LSE:I3E)
Historical Stock Chart
From Apr 2023 to Apr 2024