08:00 Mon 19 Jun 2017
Mosman Oil & Gas - Issue of Equity
("Mosman" or the "Company")
Issue of Equity
Use of Proceeds
Mosman's strategic objective remains to identify opportunities which will provide operating cash flow and have further development upside, in conjunction with adding value to our existing exploration permits.
The Placing will allow Mosman to progress its growth strategy following the recent acquisition of interests in two producing oil properties in the
The proceeds of the Placing will be put towards the ongoing development of these two US onshore oil production assets to increase production and cash flow, for general corporate working capital purposes and for the ongoing costs associated with the review and due diligence on other acquisition opportunities that are being evaluated.
Details of the Placing
The Placing is conditional on, inter alia, the New Ordinary Shares in the capital of the Company (the "Placing Shares") being admitted to trading on AIM.
An application has been made to the
Following the issue of the Placing Shares the Company's total issued share capital will comprise 249,448,151 Ordinary Shares. In accordance with the Financial Conduct Authority Disclosure and Transparency Rules, the Company has 249,448,151 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in
The above figure of 249,448,151 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Enquiries:
John W Barr, Executive Chairman
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NOMAD and Broker +44 (0) 20 3470 0470
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+44 (0) 20 7193 7463 mosman@gablecommunications.com
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