Completion of Warrant Scheme

Released : 17/05/2017 16:45

RNS Number : 4667F
Hurricane Energy PLC
17 May 2017
 

For immediate release: 17 May 2017

 

 

Hurricane Energy plc

("Hurricane" or the "Company")

Completion of Warrant Scheme

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announced that all of the warrants (the "Warrants") granted to Stifel Nicolaus Europe Limited ("Stifel") on 12 May 2017 (the "Warrant Scheme") have now been exercised by Stifel. Accordingly, there are no further Warrants in issue and the Warrant Scheme has now lapsed.

Of the ordinary shares arising from the exercise of the Warrants, an aggregate of 5,500,000 ordinary shares were sold in the market by Stifel between 12 May and 16 May.

The remaining 19,500,000 ordinary shares were placed today with institutional shareholders of the Company by Cenkos and Stifel at a price of 51 pence. The aggregate net proceeds to the Company from the Warrant Scheme are £12,735,177.

A block listing application has been made to the London Stock Exchange for the admission to trading on AIM of up to 25,000,000 Ordinary Shares (the "Block Listing Shares") with effect from today. The Block Listing Shares will be issued pursuant to the exercise of the Warrants. The Block Listing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company.

Following the conclusion of the Warrant Scheme, Hurricane's total issued and voting share capital will comprise 1,227,988,123 Ordinary Shares.  This figure may be used by shareholders 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, securities of the Company.

 

Contacts: 

Hurricane Energy plc

Dr Robert Trice (Chief Executive Officer)/
Alistair Stobie (Chief Financial Officer)

 

+44 (0)1483 862 820

Cenkos Securities plc

Nominated Adviser and Joint Corporate Broker
Derrick Lee/Nick Tulloch/Beth McKiernan

 

+44 (0)131 220 6939

Stifel Nicolaus Europe Limited

Joint Corporate Broker
Callum Stewart/Nicholas Rhodes/Ashton Clanfield

 

+44 (0)20 7710 7600

Vigo Communications

Public Relations
Patrick d'Ancona/Ben Simons

+44 (0)20 7830 9704
Hurricane@vigocomms.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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