18th Dec 2013 07:00
18 December 2013
PRESIDENT ENERGY PLC
("President" or "the Company")
Completion of International Finance Corporation Equity Subscription
President is pleased to announce that the Company has received £9.375 million (approximately US$15 million) from the International Finance Corporation ("IFC"), a member of the World Bank Group, in order to complete the placement and issue to the IFC of the 37.5 million new ordinary shares in accordance with the terms of the Subscription Agreement announced on 5 December 2013.
Application for admission of the 37.5 million new ordinary shares to trading on the AIM market of the London Stock Exchange has been made with admission expected to take place on 19 December 2013.
Following completion of the Placement, the Company will have a total of 306,549,887 ordinary shares in issue and IFC will hold approximately 12.2% of the Company's enlarged issued ordinary share capital.
Contact: | |
President Energy PLC | |
John Hamilton, CEO | +44 (0) 207 016 7950 |
Ben Wilkinson, Finance Director | +44 (0) 207 016 7950 |
RBC Capital Markets | |
Jeremy Low, Matthew Coakes, Daniel Conti | +44 (0) 207 653 4000 |
Canaccord Genuity Limited | |
Tim Redfern, Henry Fitzgerald-O'Connor | +44 (0) 207 523 8000 |
Bell Pottinger | |
Gavin Davis, Henry Lerwill | +44 (0) 207 861 3232 |
Related Shares:
PPC.L