16th Sep 2014 08:45
LONDON (Alliance News) - Oracle Coalfields PLC, the UK developer of a lignite coal mine in the south-eastern Sindh Province of Pakistan, said Tuesday that it has raised GBP775,000 before expenses in a placing of 62 million new shares, for 1.25 pence each.
Shares in the company were untraded Tuesday morning at 1.45 pence.
"The placing represents the latest step towards our goal of developing a producing mine capable of supplying indigenous coal to contribute towards alleviating Pakistan's growing energy crisis while simultaneously delivering long-term sustainable returns for our shareholder base," said chief Executive Shahrukh in a statement.
Oracle Coalfields said the following directors subscribed for new shares in the placing, and now have the following shareholdings in the company.
| Beneficial Holding prior to the Placing | Issued Share Capital prior to the Placing | Number of Placing Shares | Beneficial Holding immediately after the Placing | % of Enlarged Share Capital | |
In lieu of remuneration | By cash subscription | |||||
Directors |
|
|
|
|
|
|
Adrian Loader | 2,967,460 | 0.91 | 554,532 | 800,000 | 4,321,992 | 1.11 |
Shahrukh Khan | 32,395,967 | 9.91 | 562,540 | - | 32,958,507 | 8.47 |
Roderick Stead | 765,865 | 0.23 | 274,992 | - | 1,040,857 | 0.28 |
Anthony Scutt | 858,865 | 0.26 | 274,992 | 40,000 | 1,173,857 | 0.29 |
Senior employees |
|
|
|
|
|
|
Brian Rostron | 2,064,290 | 0.63 | 930,280 | - | 2,994570 | 0.77 |
Simon Smith | 75,000 | 0.02 | 330,917 | - | 405,917 | 0.10 |
TOTAL | 39,127,445 |
| 2,928,253 | 840,000 | 42,895,698 |
|
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
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