LONDON, July 25, 2016 /CNW/ - SDX Energy Inc. ("SDX" or the "Company") (TSX-V / AIM: SDX), an oil and gas exploration and production company with assets in Egypt, is pleased to announce that, further to its news release dated May 20, 2016, it has completed the second tranche of the private placement. The second tranche consists of 3,910,000 common shares (the "Placement Shares") that had been placed with an investor conditionally upon the receipt of final acceptance of the transaction by the TSX Venture Exchange, which has now been obtained. Admission of the Placement Shares to trading on the AIM market of the London Stock Exchange plc and commencement of dealings is expected to take place at 8.00 a.m. (London time) on Thursday, 28 July 2016. The subscription price was 18 pence (C$0.33) per Placement Share.
For the purposes of the UK Disclosure and Transparency Rules, the total number of voting rights in the Company with effect from today will be 79,843,902. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the UK Disclosure and Transparency Rules.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on Egypt. In Egypt, SDX has an interest in two production concessions: NW Gemsa and West Gharib (Meseda) both located in the Eastern Desert. SDX's portfolio also consists of South Ramadan, a development asset in the Gulf of Suez; South Disouq, an exploration asset in the Nile Delta. For further information please see the website of the Company at www.sdxenergy.com or the Company's filed documents at www.sedar.com.
SOURCE SDX Energy Inc.
For further information: ENQUIRIES: SDX Energy Inc., Paul Welch, President and Chief Executive Officer, Tel: +44 203 219 5640; Mark Reid, Chief Financial Officer, Tel: +44 203 219 5640; Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker), Sarah Wharry/Craig Francis, Tel: +44 207 7894 7000; FirstEnergy Capital LLP (Joint Broker), Jonathan Wright/David van Erp, Tel: +44 207 448 0200; Celicourt Communications, Mark Antelme, Tel: +44 20 7520 9266