Altona Energy Plc : Completion of Placing

RNS Number : 8895V

Altona Energy PLC

20 January 2012

20 January 2012

Altona Energy Plc (AIM:ANR)

Completion of Placing

Altona Energy Plc ('Altona' or 'the Company'), the AIM listed energy company, today announces that it has entered into a conditional placing agreement with a high net worth Chinese investor for the placement of 20,000,000 ordinary shares ('the Placing Shares'), at 5.0 pence per share to raise gross proceeds of £1,000,000 ('the Placing'), which will provide additional working capital for the Company.  The Placing Shares represent 4.63% of the current issued share capital of the Company and will rank pari passu with the Company's existing Ordinary Shares.  The Company continues to review its long-term funding requirements, which may include the possibility of a further equity issue, and will update shareholders at an appropriate time.

The Placing is conditional, inter alia,on the receipt of funds by 20 February 2012, and the admission of the Placing Shares to trading on the AIM market of the London Stock Exchange ("AIM") by 29 February 2012. Upon receipt of the funds an application will be made for the admission of the Placing shares to trading on AIM and a further announcement will be made in due course.

Following the Placement of shares, the Company's total issued share capital will be 451,656,853 ordinary shares.  

**ENDS**

For further information, please contact:

Altona Energy Plc Christopher Lambert, Chairman Christopher Schrape, Managing Director Peter Fagiano, Executive Director		[phone]
Evolution Securities Ltd                   Neil Elliot		[phone]
Old Park Lane Capital Plc Michael Parnes Luca Tenuta	[phone]
Newgate Threadneedle Laurence Read Beth Harris		[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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