XTRACT RESOURCES PLC — Share Issue/Capital Change 2014

Jul 10, 2014

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9160L

Xtract Resources plc

10 July 2014

10 July 2014

Xtract Resources Plc

("Xtract" or the "Company")

Xtract raises £1.2 million through disposal of 5 million GOS shares

Xtract Resources Plc (AIM: XTR) has sold 5 million shares in Global Oil Shale Group Limited ('GOS') at 23.77 pence per share, for a total consideration of £1,188,679.

Xtract was initially issued 6,000,000 shares in GOS at a subscription price of 12p, in December 2012, as part of the disposal of the Julia Creek oil shale tenements in Queensland, Australia with an additional 1,371,365 in December 2013 at 40p.  Xtract therefore retains a total of 2,371,365 shares and as per the agreement would be allotted a further 1,500,000 shares immediately prior to a listing of GOS shares on a stock exchange or market.

Jan Nelson, CEO commented: "The opportunity arose for Xtract to sell 5 million shares, which immediately provides the Company with an additional £1.2 million without diluting shareholders.  This strengthens our cash position as we continue to develop and grow Chépica and evaluate the opportunities at Mejillones."

Enquiries:

Xtract Resources Plc	Jan Nelson, CEO	+44 (0)20 3416 6471
Cenkos Securities Plc	Beth McKiernan Alan Stewart	+44 (0)20 7397 8900 +44 (0)131 220 6939
Gable Communications	Justine James	+44 (0)20 7193 7463 +44 (0) 7525 324431
St James's Corporate Services	Phil Dexter	+44 (0)20 7796 8647

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSSUFWUFLSEDW