27th Dec 2007 15:08
Faroe Petroleum PLC27 December 2007 27 December 2007 Faroe Petroleum plc ("Faroe Petroleum" or "the Company") Extraordinary General Meeting ("EGM") statement Faroe Petroleum, the independent oil and gas company focusing principally onexploration in the Atlantic Margin, the North Sea and Norway, is pleased toannounce that the resolutions proposed at the Company's EGM held earlier todayrelating to the placing of new ordinary shares were duly passed by shareholders. A total of 30,612,245 new ordinary shares have been placed with institutionaland other investors on behalf of the Company by Panmure Gordon & Co and TristoneCapital Limited at a price of 147p per share, which represents a discount of4.76 per cent. to the closing price at the close of business on the day beforethe announcement of the placing. Total funds raised for the Company from the placing are £45.0 million beforeexpenses. Dealings in the new ordinary shares are expected to commence at 08.00 on 28December 2007. Following admission of the new ordinary shares to trading on theAIM Market of the London Stock Exchange plc, the Company will have a total of104,745,161 ordinary shares in issue. For further information, call: Katherine Roe, Panmure Gordon & Co 020 7459 3600 Jonathon Brill/Billy Clegg/ Ed Westropp, Financial Dynamics 020 7813 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Faroe Petroleum Plc