{"id":12753,"title":"Angus Energy PLC (AIM:ANGS) Update on NEX Exchange Bond Issue","publisher":"Share Talk","author":"sharetalk","published":"2017-07-27T15:19:25+00:00","modified":"2017-11-05T16:46:47+00:00","canonical_url":"https://www.share-talk.com/angus-energy-plc-aimangs-update-on-nex-exchange-bond-issue/","markdown_url":"https://www.share-talk.com/angus-energy-plc-aimangs-update-on-nex-exchange-bond-issue.md","json_url":"https://www.share-talk.com/angus-energy-plc-aimangs-update-on-nex-exchange-bond-issue.json","category":"Energy","categories":["Energy","NEX Exchange"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"On[16 February 2017](https://www.investegate.co.uk/angus-energy-plc--angs-/rns/application-to-nex-exchange-growth-market/201702161330011045X/), Angus Energy published an announcement on the NEX Exchange website stating that it had published an Information Memorandum in connection with its application for admission of up to £3,500,000 sterling denominated secured bonds of denomination £1.\n\nWith a maturity date of 30 June 2022, (the “NEX Bonds”) to trading on the NEX Exchange Growth Market with an expected admission date of on or around 23 March 2017 for the first tranche of NEX Bonds (the “NEX Announcement”).\n\nThe expected admission date for the first tranche of NEX Bonds is now on or around 31 August 2017.\n\nAll other information contained in the NEX Announcement remains accurate.\n\n**END.**\n\n**Application to NEX Exchange Growth Market**[ 16 February 2017 RNS ](https://www.investegate.co.uk/angus-energy-plc--angs-/rns/application-to-nex-exchange-growth-market/201702161330011045X/)\n\nAngus Energy plc (the “Company”) has made an application for its bonds, described below, to be admitted to trading on the NEX Exchange Growth Market (“Admission”).\n\nThe Company and its subsidiaries (together the “Group”) operate a UK onshore focused oil and gas business with majority interests in two production oil fields in the UK Weald Basin in southern England with development and exploration upside.\n\nThe Group is an OGA approved operator and owns a 65% interest in the Brockham oil field in Surrey in PL235 and a 50% interest in the Lidsey oil field located in West Sussex in PL241. The Weald Basin is a proven petroleum system with several commercial producing fields and discoveries. The Company has raised £3.5 million (gross) (“AIM Proceeds”) in conjunction with its admission to trading on the AIM market of the London Stock Exchange plc of its ordinary shares on 14 November 2016 (“AIM Admission”), and it will use these proceeds to fund its share of the costs of phased development programmes on the Brockham and Lidsey oil fields.\n\nSince AIM Admission, the Company has raised a further £2 million (gross) by way of a private placing of 18,181,818 of its ordinary shares in conjunction with the acquisition ofa 12.5% economic interest in the Holmwood Licence (located in PEDL143 in Surrey) from Europa Oil and Gas Limited (further details of which are contained in the announcement published by the Company on 6 February 2017).\n\nThe Company is proposing to issue up to 3,500,000 sterling denominated secured bonds of denomination £1, with a maturity date of 30 June 2022 (“Bonds”). The Bonds will bear interest at the rate of 8.5 per cent. per annum, payable quarterly in arrears. The Company intends to issue Bonds when a need for finance arises, in order to progress its plans for the development of its licence portfolio, once the well(s) provided for in its work programme in relation to each of Brockham and Lidsey have been drilled using the AIM Proceeds.\n\nOnce the well(s) have been drilled, proceeds from the issue of Bonds can be utilised to move forward the cash flows of the Company’s production asset(s) in order to accelerate the Company’s business plan. Financing the development of its licence portfolio in this manner rather than by the use of cash reserves or the issue of new ordinary shares will allow the Company to increase the value of its production reserves and avoid shareholder dilution.\n\nFOR FURTHER INFORMATION PLEASE CONTACT:\n\n**Angus Energy Plc**\n\nBuilding 3 Chiswick Park\n\n566 Chiswick High Street\n\nLondon, W4 5YA\n\nTel: +44 (0)208 899 6380\n\nWebsite: [www.angusenergy.co.uk](http://www.plutuspowergen.com/) \n\n**NEX Exchange Corporate Advisor**\n\nNick Michaels and Jon Isaacs\n\nAlfred Henry Corporate Finance Limited\n\nTel: +44 (0)207 251 3762\n\nWebsite: [www.alfredhenry.com](http://www.alfredhenry.com/) \n\n**Angus Energy** was admitted to AIM in November 2016 and raised £3.5million (gross) via a placing of new Ordinary Shares at 6p per Share to undertake its work programmes at Brockham and Lidsey as more fully set out in its AIM Admission document.\n\nThe Company has begun work on this work programme at Brockham. Further, as announced on 6 February 2017, it recently raised £2million (gross) via a further placing at 11p per Share to fund a) the costs of a farm-in into Europa Oil & Gas Limited’s Holmwood licence (PEDL143) and b) a 10% increase in its Brockham interest. The Company is now taking the opportunity to put in place a facility through which it can issue debt via the NEX Bonds to fund development assets, either those that it can prove up to that stage within its existing asset portfolio or those that it may acquire in future."}