10th Dec 2012 14:20
10 December 2012
Fastnet Oil & Gas plc
("Fastnet" or the "Company")
Result of General Meeting
Further to the announcements on 22 and 23 November 2012 in relation to the placing ('Placing') of new ordinary shares ('Placing Shares') in the Company to raise approximately £15 million and the despatch of a related shareholder circular, Fastnet (AIM: FAST, ESM: FOI), the E&P company focussed on near term exploration acreage in Morocco and the Celtic Sea, is pleased to announce that all resolutions proposed at the General Meeting of the Company held earlier today were duly approved.
As a result, the Placing has become unconditional other than in respect of admission of the Placing Shares to trading on AIM. Application has been made for admission to trading on AIM and the ESM of 68,000,000 Placing Shares. Admission of the Placing Shares on AIM and the ESM is expected to become effective on Wednesday 12 December 2012, following which the Company will have 273,940,493 Ordinary Shares in issue.
For further information, please contact:
Fastnet Oil & Gas plc Cathal Friel, Chairman Paul Griffiths, Managing Director | +353 (1) 644 0007 |
Shore Capital (Nominated Adviser & Joint Broker) Nomad Bidhi Bhoma Edward Mansfield
Corporate Broking Jerry Keen | +44 (0) 20 7408 4090 |
Mirabaud Securities LLP
(Joint Broker) Peter Krens Edward Haig-Thomas
|
+44 (20) 7321 2508
|
Davy (ESM Adviser & Joint Broker) John Frain Brian Garrahy Roland French
| +353 (1) 679 6363 |
FTI Consulting Edward Westropp Natalia Erikssen Jess Allum | +44 (0) 207 831 3113
|
Notes to Editors
Fastnet Oil & Gas plc is an independent oil and gas exploration company that focuses on identifying early stage exploration and appraisal opportunities in Morocco and the Celtic Sea. It is quoted on the AIM market of the London Stock Exchange and the Enterprise Securities Market (ESM) of the Irish Stock Exchange. Fastnet's aim is to assemble a portfolio of high impact conventional oil and gas assets that will deliver sustainable growth and value for the Company. Its immediate focus is on implementing its strategies in Morocco and the Celtic Sea where it has acquired a material interest in the highly prospective Foum Assaka permit, Offshore Morocco, has been awarded three offshore licensing options in the Celtic Sea (Molly Malone Basin, Mizzen Basin and Block 49/13) and farmed-into the Shanagarry Licensing Option. In addition, Fastnet will continue to pursue new conventional oil and gas opportunities in Africa where the Directors and Advisory Board also have extensive knowledge, contacts and experience of creating value.
Related Shares:
AMYT.L