30th Dec 2009 07:00
30 December 2009
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 Pricing and Placing of Ordinary Shares Raising Aggregate Gross Proceeds of approximately $12 million
Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, is pleased to announce today that it has executed a Placing Agreement in relation to the sale of 16,000,000 ordinary shares at US$0.74 per ordinary share in a private placement to institutional investors (the "Placing") for aggregate gross proceeds of $11.84 million. The completion of the Placing and the admission to trading of the shares is expected to take place on or about 5 January 2010.
Centura Sociedad Agente de Bolsa S.A. acted as agent to the Placing.
Maple intends to use the net proceeds from the offering to fund certain capital expenditures associated with Maple's proposed ethanol project in Peru and for general corporate purposes.
The new ordinary shares being 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 upon completion of the Placing. These ordinary shares will, when issued, rank pari passu with Maple's existing ordinary shares
Rex Canon, CEO of Maple Energy, commented today: "I am pleased with the outcome of this placing which provides Maple with further funding to advance our ethanol project. As outlined previously, we expect 2010 to be an active year in the development of our ethanol project and this additional capital will provide us with additional resources for the project and demonstrates the confidence of investors in Maple's ethanol ambitions."
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