Last checked at 22 Nov 2012 07:59
22 November 2012 TANGIERS PETROLEUM LIMITED ISSUE OF EQUITY
Tangiers Petroleum Limited (the Company) announces that it has issued 10,000,000 fully paid ordinary shares at a price of GBP£0.18 (A$0.28) per share. This makes up the second tranche of the private placement announced on 24 September 2012 and is in accordance with Resolution 6 approved at the General Meeting held on 16 November 2012. The Company has applied for the new shares to be admitted to trading on both the ASX and AIM markets. Trading in the new shares on AIM is expected to commence on or around 23 November 2012.
The Company has also issued stock options to brokers of the Company, of which the details are as follows:
Number Terms Expiry Date Purpose 213,733 Unlisted options ex at GBP£ 19-Nov-15 Broker options approved at 0.256 General Meeting held on 16-Nov-12 487,230 Unlisted options ex at GBP£ 19-Nov-15 Broker options approved at 0.242 General Meeting held on 16-Nov-12
Following the above issues, the Company has the following securities on issue:
Number Class 132,554,576 Fully paid ordinary shares 44,149,645 ASX-listed Options (TPTOA) exercisable at A$0.16 on or before 31 October 2013 1,000,000 Unlisted options exercisable at A$0.22 on or before 19 July 2014 6,000,000 Unlisted options exercisable at A$0.60 on or before 16 December 2014 1,000,000 Unlisted options exercisable at A$0.22 on or before 16 December 2014 500,000 Unlisted options exercisable at A$0.50 on or before 2 April 2015 3,274,124 Unlisted options exercisable at A$0.60 on or before 2 April 2015 3,500,000 Unlisted options exercisable at A$0.70 on or before 2 April 2015 300,000 Unlisted options exercisable at A$0.70 on or before 10 April 2016 213,733 Unlisted options exercisable at GBP£0.256 on or before 19 November 2015 487,230 Unlisted options exercisable at GBP£0.242 on or before 19 November 2015 KRYSTEL KIROUJoint Company SecretaryTangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: +61 8 9485 0990 www.tangierspetroleum.comContactsRFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+ 61 8 9480 2506Old Park Lane Capital PLC (Joint AIM Broker)Mr Michael ParnesMr Luca Tenuta+ 44 20 7493 8188Shore Capital Stockbrokers Ltd (Joint AIM Broker)Mr Jerry KeenMr Bidhi Bhoma+ 44 20 7408 4090
Mr Ed Portman (Media and Investor Relations - United Kingdom) Tavistock Communications + 44 20 7920 3150
PINX