Roxi Petroleum: $40 million Equity Investment Update
Roxi is pleased to announce that a further $2.5 million has been called and received under the previously announced $40 million equity commitment with Mr. Satylganov, a Director of the Company.
Accordingly, Roxi will issue a further 20,947,858 shares to Mr. Satylganov. The shares will be issued according to the terms of the existing agreement at a price of $0.119 per share (7.4p per share based on the original exchange rate of £1 = $1.61). Following the issue of these shares the total number of shares in issue will be 736,984,299. Mr. Satylganov’s shareholding will be 104,739,287, which will represent 14.2 per cent of the enlarged total.
Roxi will apply for these 20,947,858 subscription shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on 10 April 2013.
