14 January 2013 Proforma Schedule 1 Pre-Admission Announcement

Issue of Equity

RNS Number : 8303B
Northcote Energy Limited
09 January 2015

Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas

9 January 2015

Northcote Energy Ltd ('Northcote' or 'the Company')

Issue of Equity


Northcote (AIM: NCT) has issued 20,054,602 fully paid ordinary shares in the Company ('the Conversion shares') to Darwin Strategic Limited ('Darwin' or 'the note holder') following the receipt of a conversion notice, dated 29 December 2014.  


Under the terms of the Loan Note, the number of conversion shares required to satisfy the £50,000 loan amount, totalling 20,054,602 ordinary shares (representing 1.50% of the enlarged share capital of the Company), was calculated using the conversion price of 0.25p.  Following conversion the outstanding balance of the nil coupon convertible loan note is £1.05million.


The Conversion shares will rank pari passu in all respects with the Company's existing ordinary shares.  Application has been made for the admission of the Conversion shares to be admitted to trading on AIM ("Admission"), and Admission is expected to occur, and dealings are expected to commence, at 08.00 on 15 January 2015.


The Company has no Ordinary Shares held in treasury.  The total number of voting rights in the Company following the issue will be 1,337,567,050.  This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.




For further information visit or contact the following:


Randy Connally

Northcote Energy Ltd

+1 214 550 5082

Ross Warner

Northcote Energy Ltd

+44 7760 487 769

Dan Jorgensen

Northcote Energy Ltd

+44 20 7024 8391

Roland Cornish

Beaumont Cornish Ltd

+44 20 7628 3396

Jerry Keen

Shore Capital Stockbrokers Limited

+44 20 7408 4090

Bidhi Bhoma

Shore Capital Stockbrokers Limited

+44 20 7408 4090

Stefan Olivier

Cornhill Capital Limited

+44 20 7710 9618

Hugo de Salis

St Brides Media and Finance Ltd

+44 20 7236 1177

Elisabeth Cowell

St Brides Media and Finance Ltd

+44 20 7236 1177




Northcote Energy Ltd is a producing oil & gas company with a portfolio of US exploration and production assets principally focused in Osage County, Oklahoma.   The Company has substantial acreage in the US where its primary focus is on the Pennsylvanian and Mississippi Lime formations.  Northcote is currently undertaking a continuous 2014 work programme which includes recompletions, new wells, fracks and workover programmes in order to grow Northcote's production and reserves.



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