LONDON, UNITED KINGDOM--(Marketwired - Nov 11, 2013) - Serica Energy plc (
TSX:SQZ Not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States, Australia, Canada or Japan. 11 November 2013 Serica Energy plc ("Serica" or the "Company") Result of Open Offer On 22 October 2013, the Board of Serica Energy plc announced details of a Placing to raise approximately GBP10.2m (approximately US$16.6 million)through the issue of 56,870,934 New Ordinary Shares and an Open Offer to raise up to approximately GBP4.1 million (approximately US$6.7 million) through the issue of up to 22,846,288 New Ordinary Shares, both at an Issue Price of 18 pence per New Ordinary Share. The Open Offer closed for acceptances at 11.00 a.m. on 8 November 2013. The Company is pleased to announce that it has received valid acceptances in respect of 6,093,351 Open Offer Shares from Qualifying Shareholders, including applications under the Excess Application Facility. This represents 26.7 per cent. of the Open Offer Shares offered. In addition, the Company is pleased to announce the placing at the Issue Price of 4,444,444 New Ordinary Shares not taken up by Qualifying Shareholders under the Open Offer (the "Lapsed Entitlements Placing"), representing a further 19.5 per cent of the Open Offer Shares offered. The Company has therefore raised aggregate gross proceeds of approximately GBP12.1 million (approximately US$19.6 million) through the Capital Raising, after taking account of the Lapsed Entitlements Placing. The Capital Raising, including the Lapsed Entitlements Placing remains conditional upon, inter alia, the approval by Shareholders of certain resolutions to be proposed at the General Meeting of the Company to be held at 11.00 a.m. on 11 November 2013 and Admission occurring no later than 8.00 a.m. on 15 November 2013 or such later time or date as the parties to the Placing Agreement may determine (not being later than 8.00 a.m. on 30 November 2013). Application will be made to AIM, a market operated by the London Stock Exchange plc, for the admission of 67,408,729 New Ordinary Shares and the TSX has granted conditional approval with regard to the listing of the New Ordinary Shares on the TSX. It is expected that Admission of the New Ordinary Shares to AIM will become effective at 8.00 a.m. (London time) on 15 November 2013. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/6374S_1-2013-11-10.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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