01 Jun 2015
On 7 May 2015, the Company announced that it had entered into an option with Zeus Capital Limited, exercise of which would facilitate non institutional shareholders to acquire further new Ordinary Shares in MXC at the Placing Price (the “Broker Option”).
The Company further announces that due to a high level of demand, it has decided to increase the number of shares available to non-institutional shareholders and new investors under the Broker Option to 120,000,000 new Ordinary Shares (the “Broker Option Shares”).
Zeus Capital Limited, with the agreement of the Company, has therefore today exercised the Broker Option in full. Full exercise of the Broker Option results in further gross proceeds of £3 million being received by the Company.
Following the exercise of the Broker Option and the completion of the Placing which was approved at the Company’s General Meeting on 1 June 2015, MXC will have in excess of £30 million of capital available to invest.
Application has been made for the Broker Option Shares to be admitted to trading on AIM, and this is expected to occur on 5 June 2015.
Total Voting Rights
Following admission to trading of the Broker Option Shares, the Company’s total issued share capital will be 2,565,350,992 Ordinary Shares of nil par value.
The total number of voting rights in the Company will therefore be 2,565,350,992. There are no shares held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA’s Disclosure and Transparency Rules.