KAROO ENERGY PLC
("Karoo Energy" or the "Company")
ISSUE OF EQUITY
9 May 2016
Karoo Energy plc announces that it has placed 10,000,000 ordinary shares of 0.25p each in the Company at a price of 3p per share, raising £300,000. The funds will be used for ongoing administrative expenses, and advancing its opportunities in Botswana through Equatorial Oil and Gas plc, the Company's 93.475% owned subsidiary.
The new ordinary shares rank pari passu with the existing ordinary shares.
Following this placing there are now 180,163,162 ordinary shares in issue, of which the directors are interested in a total of 8,194,212 ordinary shares, representing 4.55% of the Company's issued share capital.
The Directors of Karoo Energy accept responsibility for the content of this announcement.
ENQUIRIES:
Company
Noel Lyons
020 3130 0674
Corporate Adviser
Peterhouse Corporate Finance Limited
Guy Miller / Mark Anwyl
Telephone: 020 7220 9796
