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Friday, October 20 2017 @ 12:58 AM AST

Bahamas Petroleum to list new shares

By way of announcements on 14 June 2017 and 16 June 2017, the Company has announced that it is proposing to raise £2.8 million (before expenses) through a placing of 280,000,000 Placing Shares at the Placing Price of one pence.

Further details of the terms of the Placing are set out below under the heading “Details of Placing” and “Use of Proceeds”. 110,000,000 of the Placing Shares are being placed pursuant to existing authorities granted to the Directors by clause 6.4.4 of the Company’s Articles of Association whilst the remaining 170,000,000 Placing Shares are being placed conditional, inter alia, on the passing of the Resolution being proposed at the EGM.

The Firm Placing is conditional, inter alia, on First Admission (which is expected to become effective with dealings in the Firm Placing Shares to commence on or about 21 June 2017); and the Conditional Placing (inclusive of the Director Placing) is conditional, inter alia, on Second Admission (which is expected to become effective with dealings in the Conditional Placing Shares (inclusive of the Director Placing Shares) to commence on or about 17 July 2017). The Placing has not been underwritten.

FOR MORE, VISIT: http://www.bpcplc.com/media/32656/bpc_circular.pdf










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