2nd Jul 2008 07:00
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For immediate release |
2 July 2008 |
LENI GAS & OIL PLC
("The Company")
Placement
Further to the announcement made on 27 June 2008, Leni Gas and Oil plc (AIM:LGO) the oil and gas production company with assets in Spain, Trinidad, Hungary and Gulf of Mexico is pleased to announce it has raised additional gross proceeds for project acquisition and development purposes of approximately £1.54 million (£1.5 million net after commissions payable in cash) in a placing to institutional investors of 19,252,812 new ordinary shares of 0.05p each in the Company at 8p per share ("Placing Shares"). The Placing Shares are to be issued together with one warrant for each two Placing Shares subscribed, each warrant entitling the holder to subscribe for one new ordinary share in the Company at 8p per share for a period of five years from the date of their issue.
Subsequent to the issuance of these new ordinary shares, the Company will have 576,304,965 Ordinary Shares in issue.
Application will be made for the 19,252,812 new ordinary shares to be admitted to trading and these will rank pari passu with the Company's existing Ordinary Shares.
Dealings on AIM are expected to commence on 8 July 2008.
Enquiries:
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Leni Gas & Oil Plc |
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|
David Lenigas |
Tel: +44 (0)20 7016 5100 |
|
Beaumont Cornish |
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|
Roland Cornish |
Tel: +44 (0)20 7628 3396 |
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Rosalind Hill Abrahams |
Tel: +44 (0)20 7628 3396 |
ENDS
Related Shares:
CERP.L