Kea Petroleum PLC Extension of Proposed Placing via PrimaryBid.com (4888M)
07 5월 2015 - 7:04PM
UK Regulatory
TIDMKEA
RNS Number : 4888M
Kea Petroleum PLC
07 May 2015
For immediate release 7 May 2015
Kea Petroleum plc
("Kea" orthe "Company")
Extension of Proposed Placing of Shares via PrimaryBid.com
and Update on Progress
This announcement amounts to a financial promotionfor the
purposesof section 21 of the Financial Services and MarketsAct 2000
and hasbeen approved by Darwin Strategic Limited, which is
authorised and regulated by the Financial Conduct Authority.
Kea Petroleum plc (AIM: KEA), the oil and gas company focused on
New Zealand, announces that, further to its announcement of 21
April 2015, it has extended the open book offer period by a further
two weeks
under PrimaryBid.com (www.primarybid.com) to facilitate the
proposed equity fundraising of not less than
GBP3 million before expenses at a minimumprice of 1p per share
("Fundraising").
The bid period will now close on 22 May 2015. Aggregated bids
received so far exceed GBP1 million, which Directors consider to be
quite satisfactory progress considering the distractions of the
past long weekend and the General Election today.
The Fundraising is conditional on the Company being able to
raise at least GBP3 million through the PrimaryBid platform as well
as the passing of the necessary resolutions at the Company's
forthcoming general meeting convened for 8 May 2015at 12 noon.
The Company's current working capital position remains tight but
it has sufficient funds for operations until after the extension of
the bid period. It will seek to manage its working capital in the
event it does not raise the minimum of GBP3 million through
PrimaryBid whilst it considers alternative means to seek further
finance.
RISK
Investing in growth market companies involves a significant
degree of risk including loss of capital, rarity of dividends, lack
of liquidity and dilution, and should only be done as part of a
diversified portfolio. Past performance is not an indicator of
future performance. PrimaryBid.com is targeted solely at investors
who are sufficiently sophisticated to understand these risks and
make their own investment decisions, or seek appropriate advice
from a financial advisor authorised under the Financial Services
and Markets Act 2000.
For further information please contact:
Kea Petroleum plc Tel: +44 (0)20 7340
David Lees, Executive 9970
Director Peter Wright,
Finance Director Tel: +64 (0) 4 385
0032
WH Ireland Limited (Nomad) Tel: +44 (0) 20 7220
James Joyce James Bavister 1666
PrimaryBid.com Tel: +44 (0) 20 7491
6519
Buchanan Tel: +44 (0) 20 7466
Mark Court Sophie Cowles 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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