Roxi Agrees to Issue Shares

Source: www.gulfoilandgas.com 8/7/2014, Location: Asia

Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, announces that it has agreed to issue 3,955,438 new Roxi shares in satisfaction of a $500,000 debt.

The new shares will be issued to Zhanat Bukenova in return for a loan provided to Roxi in connection with Roxi's Munaily asset in 2010.

In 2010 Roxi borrowed $3.0 million in connection with its Munaily asset. On 26 March 2013 Roxi announced the issue of 22,654,731 new shares to convert $2.5 million of this debt. At that time Roxi extended the same offer to convert the balance $500,000 of the total Munaily related debt. Accordingly, the current debt conversion is at 7.41267p the price used for previous debt conversion.

Following the issue of the new shares Zhanat Bukenova will be interested in 3,955,438 Roxi shares out of an enlarged total of 842,989,452 representing approximately 0.5 per cent.

The total number of shares in issue following the issue of these shares will be 842,989,452. Roxi has no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Roxi will apply for the 3,955,438 shares to be admitted to trading on AIM following and it is anticipated that trading in such shares will commence on 12 August 2014.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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