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Thursday, 18 May 2017

Wentworth Resources Limited : Admission of Placement Shares

Wentworth Resources Limited    

Published: 19:00 CEST 18-05-2017 /GlobeNewswire /Source: Wentworth Resources Limited / : WRL /ISIN: CA9506771042

Wentworth Resources Limited : Admission of Placement Shares

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, JERSEY, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF WENTWORTH RESOURCES LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

18 May 2017

 

 

Wentworth Resources Limited

 

Admission of Placement Shares

 

 

Reference is made to the announcement made on Wednesday, May 17, 2017 regarding completion of the private placement of new common shares in Wentworth Resources Limited ("Wentworth" or the "Company"), the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil and gas company. Further to this announcement, the admission to trading on AIM and the Oslo Stock Exchange, scheduled for tomorrow, will be delayed until the receipt of the full settlement proceeds by the Company. It is expected that the Placement Shares will be admitted to trading on Monday 22 May 2017 on AIM and the Oslo Stock Exchange.

 

In accordance with the continuing obligations of the Oslo Stock Exchange, it is hereby announced that the board of directors of the Company today has authorised the issue of up to a maximum of 16,953,496 new common shares at the subscription price of 25 pence per share in the private placement. The new common shares will be issued upon receipt of the proceeds for the shares by the Company.

 

A further announcement will be made in due course confirming the admission to trading on AIM and the Oslo Stock Exchange.

 

About Wentworth Resources

 

Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent oil & gas company with: natural gas production; exploration and appraisal opportunities; and large-scale gas monetisation initiatives, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

 

 

Enquiries: 

 

 

Wentworth 

Geoffrey Bury,
Managing Director

gpb@wentworthresources.com
+1 403 993 4450

 

 

 

 

Lance Mierendorf,
Chief Financial Officer
 

lance.mierendorf@wentworthresources.com
+1 403 680 8773

 

Katherine Roe
Vice President Corporate Development and Investor Relations 

 

katherine.roe@wentworthresources.com
+44 7841 087 230

Crux Advisers

Investor Relations Adviser 
(Norway)

+47 909 808 48

 

Carl Bachke

 

 

 

 

Stifel Nicolaus Europe Limited

AIM Nominated Adviser and Broker (UK)

+44 (0) 20 7710 7600

 

Callum Stewart

 

 

Ashton Clanfield
 

 

GMP FirstEnergy

Broker (UK)

+44 (0) 20 7448 0200

 

Hugh Sanderson
David van Erp
 

 

FTI Consulting

Investor Relations Adviser (UK)

+44 (0) 20 3727 1000

 

Edward Westropp
Kim Camilleri

 

 

 

Cautionary note regarding forward-looking statements

 

This announcement may contain certain forward-looking information. The words "expect", "anticipate", believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward looking information.

 

The forward-looking statements contained in this announcement are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Wentworth is currently active and other factors management believes are appropriate in the circumstances. Wentworth undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.

 

Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Wentworth's control. These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law. Additionally, there are economic, political, social and other risks inherent in carrying on business in Tanzania and Mozambique. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. See Wentworth's Management's Discussion and Analysis for the year ended December 31, 2016, available on Wentworth's website, for further description of the risks and uncertainties associated with Wentworth's business.

 

Notice

 

Neither the Oslo Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed this announcement and neither accepts responsibility for the adequacy or accuracy of this announcement.

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



170518 Announcement



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Wentworth Resources Limited, 630, 715 – 5th Avenue SW, Calgary, Alberta T2P 2X6, Canada
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