Brightoil Petroleum (Holdings) Ltd
Brightoil Petroleum Issues 590 Million Shares to Raise HK$1,298 Million For Top-up Placement – Receives Enthusiastic Response From Multiple Institutions
[For Immediate Release] The information contained in this Press Release is not for distribution, directly or indirectly, in or into the United States. This Press Release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to therein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”‘), or the securities laws of any other jurisdiction, and may not be offered or sold within the United States (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management, as well as financial statements. No public offering of the securities will be made in the United States. Brightoil Petroleum Issues 590 Million Shares to Raise HK$1,298 Million ***** (8 May 2015 – Hong Kong) Brightoil Petroleum (Holdings) Limited (“Brightoil Petroleum” or the “Group”; stock code: 933.HK) is pleased to announce that today the Group has completed a top-up placement exercise to place 590,017,000 shares (the “Placing”) to no less than six independent investors. Net proceeds raised from the Placing and Subscription Agreement amounted to approximately HK$1,292 million. This transaction will raise additional funds for the Group’s general corporate purposes, working capital for existing projects and debt repayment. Nomura International (Hong Kong) Limited is the sole global coordinator and sole book-runner of the transaction. Nomura International (Hong Kong) Limited and BOCI Asia Limited are the joint placing agents in respect of the Placing. The placing price of this share transaction was set at HK$2.2 per share, representing a discount of approximately 12.35% to the closing price on the date of the Placing and Subscription Agreement, and a discount of approximately 11.65% to the average closing price for the last five consecutive trading days up to and including the date of the agreement. Upon the completion of the transaction, the shareholding of Dr. SIT Kwong Lam, the Controlling Shareholder of the Group, will change from 74.84% to 70.12%. The independent investors who will be placed the Placing Shares will hold a total 6.31% equity interest of the enlarged share capital of the Group. Dr. SIT Kwong Lam, Chairman of Brightoil Petroleum, said, “We are very pleased with the enthusiasm as well as the quality of these investors for the share placement. Brightoil Petroleum is devoted to establishing itself as a world-renowned resources-focused energy enterprise. The placement not only enables the Group to broaden its shareholder base by bringing in high-quality investors, but also provides us with additional resources to further expand our business.” “Despite the wide fluctuation in crude oil prices since the second half of 2014, the Group still achieved better-than-expected results in the first half of FY2015. Our strong performance demonstrates that our unique business model has served us well and that our efforts to expand upstream operations as well as own ability to control operational expenditures have started to generate positive returns. Going forward, we will take advantage of the low oil price environment to explore acquisition opportunities, which would boost our oil and gas reserves as well as production. Moreover, the oil price troughs have created robust demand for oil storage facilities and marine transportation services. The Phase I & II storage and terminal facilities of Zhoushan Waidiao Island Project, with a total storage capacity of 3.16million cubic meters, will successively enter operation. They will become a new driver for our sustainable development and enable us to generate additional returns to our shareholders,” added Dr. SIT Kwong Lam. -End-
For additional information about Brightoil Petroleum, please visit the Company’s website at www.brightoil.com.hk. Press Release distributed by: Brightoil Petroleum (Holdings) Limited End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=LVUXMKKIFY Document title: Brightoil Petroleum Issues 590 Million Shares to Raise HK$1,298 Million For Top-up Placement – Receives Enthusiastic Response From Multiple Institutions Key word(s): Miscellaneous 08/05/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
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