Falklands : Rockhopper: Placing to raise up to £1.32 Million
Submitted by Falkland Islands News Network (Juanita Brock) 06.03.2007 (Article Archived on 20.03.2007)
Rockhopper Exploration plc (the 'Company') (RKH:AIM) is pleased to announce a
placing (the 'Placing') of up to 3,588,700 new ordinary shares (the 'Placing
Shares') at a subscription price of 37 pence each (the 'Placing Price') by
Teather & Greenwood Limited with institutional and other investors to raise up
to £1,328,000 (before expenses).
Rockhopper Exploration plc
06 March 2007
6 March 2007
Rockhopper Exploration plc
Placing to raise up to GBP1.32 million
Rockhopper Exploration plc (the 'Company') (RKH:AIM) is pleased to announce a
placing (the 'Placing') of up to 3,588,700 new ordinary shares (the 'Placing
Shares') at a subscription price of 37 pence each (the 'Placing Price') by
Teather & Greenwood Limited with institutional and other investors to raise up
to £1,328,000 (before expenses).
The Placing Price represents a discount of approximately 6.33 per cent. to the
closing middle market price of an ordinary share on 5 March 2007, the day
preceding the date of this announcement. The Placing Shares equal, in number,
4.98 per cent of the ordinary shares currently in issue and (assuming full
subscription under the Placing) will represent 4.74 per cent. of the Company's
enlarged issued share capital immediately following the Placing (undiluted)
of 75,663,305 ordinary shares. It is expected that certain directors of the
Company will subscribe for a total of 189,189 Placing Shares under the Placing.
The Placing is not underwritten.
Dr. Pierre Jungels, Executive Chairman of Rockhopper Exploration, said:
'The continuing support of existing shareholders is greatly appreciated and we
are pleased to welcome our new shareholders to the unfolding Rockhopper
Exploration story. The funds raised from the Placing will be used for general
purposes, including advanced investigation of the new 3D seismic which covered
the two wells drilled by Shell in 1998, one of which recovered live oil to the
surface.'
The Placing Shares will rank on their issue pari passu in all respects with the
existing issued ordinary shares. Application will be made for the Placing Shares
to be admitted to trading on AIM. It is expected that they will be admitted to
trading on AIM on 9 March 2007.
For further information, please contact:
Rockhopper Exploration plc www.rockhopperexploration.co.uk
Sam Moody - Managing Director 01722 414 419
Teather & Greenwood Limited www.teathers.com
James Maxwell (Corporate Finance)
Tanya Clarke (Specialist Sales) 020 7426 9000
Aquila Financial Ltd www.aquila-financial.com
Peter Reilly 020 7202 2601
Notes to editors
www.rockhopperexploration.co.uk
Rockhopper Exploration plc commenced trading in February 2004 to invest in and
carry out an offshore oil exploration programme to the north of the Falkland
Islands. The Company, floated on AIM in August 2005, is currently the largest
licence holder in the North Falkland Basin and has a 100 per cent. interest in
four offshore production licences which cover approximately 5,800 sq. km. These
licences have been granted by the Falkland Islands government.
This information is provided by the Falkland Islands Company via RNS
The company news service from the London Stock Exchange
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