5th Jan 2010 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA.
05 January 2010
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in, Maple Energy plc nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.
MAPLE ENERGY PLC
("Maple" or the "Company")
MAPLE ANNOUNCES COMPLETION OF $11.84 MILION PRIVATE PLACEMENT
Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, announces the successful completion of its share offer by way of a private placement of 16,000,000 ordinary shares (the "Placing Shares") at US$0.74 per ordinary share with institutional investors (the "Placing") for aggregate gross proceeds of $11.84 million. Admission of the Placing Shares to trading on AIM will become effective and dealings will commence today, 05 January 2010.
Maple intends to use the net proceeds from the offering to fund certain capital expenditures associated with Maple's ethanol project in Peru and for general corporate purposes.
The new ordinary shares sold in the Placing represent in aggregate approximately 15.17% per cent of the issued and outstanding share capital of Maple on a non-diluted basis and will rank pari passu with Maple's existing ordinary shares.
Rex Canon, CEO of Maple Energy, commented today:
"We are pleased to announce this successful placing of new shares which will provide Maple with further funding to advance our ethanol project. We look forward to efficiently and effectively deploying the capital raised from this offering to further grow our business and enhance overall shareholder value."
For further information, please contact:
Maple Energy plc (+ 51 1 611 4000)
Rex W. Canon, Chief Executive Officer, President and Executive Director
Jefferies International Limited: (+44 20 7029 8000)
Jack Pryde
Paul Wheeler
Schuyler Evans
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
This press release does not constitute a recommendation regarding the shares of the Company. No part of the contents of this press release is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this press release, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this press release or to correct any inaccuracies in, or omissions from, this press release that may become apparent.
This press release contains forward-looking statements, which are based on the Company's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables, which could cause actual results or trends and the Company's operations and financial performance to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by the AIM Rules, the London Stock Exchange or by law, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Related Shares:
MPLE.L