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Exercise of Warrants

20th Nov 2008 09:19

RNS Number : 5547I
Ramco Energy PLC
20 November 2008
 



Ramco Energy plc 

Exercise of warrants 

Aberdeen, Scotland - 20th November 2008

Ramco Energy plc (“Ramco” or the “Company”), the Aberdeen-based energy investment company, announces that, following the exercise of 5,000,000 warrants by LC Capital Master Fund, Ltd (“LC”), it has allotted and issued, conditional upon admission to the AIM market, 5,000,000 new ordinary shares (“New Ordinary Shares”) of 10p each.

The exercise of the warrants, which were granted in June 2007 at a price of 14p per share, results in the Company receiving £700,000 as proceeds of the exercise.

Following the issue of the New Ordinary Shares, LC's holding in the Company will be 6,702,380 Ordinary Shares, representing 14.5 per cent. of the enlarged issued share capital of the Company. Steven Lampe, a Non-Executive Director of the Company, is managing member of Lampe, Conway & Co LLC, the investment manager of LC, and as result has a non-beneficial interest in the LC shareholding in the Company.

Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 26thNovember 2008.

Following the issue of the New Ordinary Shares, the total number of issued ordinary shares in the Company will be 46,109,279. 

20 November 2008

ENQUIRIES:

Ramco Energy plc 

Chris Moar

Finance Director

01224 748480

John East & Partners Limited

David Worlidge

020 7628 2200

College Hill 

Nick Elwes 

020 7457 2020

www.ramco-plc.com 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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