Gunsynd PLC Issue of Equity and further investment in Zenith (7335T)
January 10 2017 - 2:00AM
UK Regulatory
TIDMGUN
RNS Number : 7335T
Gunsynd PLC
10 January 2017
10 January 2017
Gunsynd plc
("Gunsynd" or the "Company")
Issue of Equity and further investment in Zenith Energy
Issue of Equity
Gunsynd (AIM: GUN, ISDX: GUN) announces that it has raised
GBP701,000, gross of expenses, through the issue of 1,752,500,000
new shares of 0.01p each in the Company ("Placing Shares") at a
placing price of 0.04 pence per share with certain institutional
and private investors ("the "Placing"). This Placing is to raise
funds to assist in progressing possible investment opportunities
that the Company is currently looking at. Application is being made
for the Placing Shares, which will, on issue, rank pari passu with
the existing ordinary shares, to be admitted to trading on AIM and
such admission is expected to occur on or around 16 January 2017.
The Placing Shares will be admitted to trading on NEX Exchange
simultaneously with the admission to AIM.
The Company will therefore have 3,522,630,373 Ordinary Shares in
issue with voting rights and admitted to trading on AIM and NEX
Exchange. This figure may be used by shareholders in the Company as
the denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
Further investment in Zenith Energy
The Company is also pleased to announce that it has signed a
subscription agreement with Zenith Energy Limited ("Zenith"), an
oil production company based in Azerbaijan, to invest GBP375,000 in
the upcoming IPO on the standard list of the London Stock Exchange.
Zenith's admission date will be 11(th) January 2017.
Hamish Harris, executive Chairman of the Company, commented:
"This fundraise allows us to make a further substantial investment
into Zenith Energy which we believe offers substantial upside
opportunity for the Company. We also keenly await the results of
the workover program which should begin shortly. Likewise results
from drilling at the Brockham licence in the Weald basin should be
released soon which the company has exposure to via Alba Mineral
Resources plc. Any success should also impact the value of our 2%
stake in Horse Hill Developments Ltd by further validating the
results from the Horse Hill well drilled by UKOG. The Company is
also in discussion with other parties with respect to possible
investments and we will update shareholders as appropriate
regarding this. In short 2017 looks a very exciting time for the
Company with plenty of near term drilling providing scope for a
substantial rerating of the Company".
This announcement contains inside information for the purposes
of Article 7 of EU Regulation
596/2014.
The directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc:
+44 (0) 20 7440 0640
Hamish Harris
Nominated Adviser/NEX Exchange Corporate Adviser:
+44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Liam Murray
Peterhouse Corporate Finance (Joint Broker)
+44 (0)20 7469 0930
Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
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January 10, 2017 02:00 ET (07:00 GMT)