DJ San Leon Energy PLC Placing, Equity Line Agreement, Loan Facility


RNS Number : 3252V
San Leon Energy PLC
01 November 2010

San Leon Energy Plc
("San Leon" or the "Company")

Placing, Equity Line Agreement, Loan Facility

The Board of San Leon, an oil and gas exploration and development company
focused on projects in Poland, Morocco, Ireland, Albania and the Netherlands, is
pleased to announce a number of transactions related to funding to further
support the Company's prospects.

1. San Leon has entered into a Standby Equity Distribution Agreement ("SEDA")
with YA Global Master SPV Ltd ("Yorkville"), an investment fund managed by
Yorkville Advisors LLC, for a GBP15 million equity line of credit. The Company
intends to use the funding from the SEDA judiciously and prudently to assist in
future working capital requirements. Under the terms of the agreement San Leon
may draw down funds from time to time, at its sole discretion, over a period of
up to three years in exchange for the issue of new shares in the capital of the
Company. The shares issued by the company will be priced at a 6% discount to the
prevailing market price at the time of the draw down. The Company may also set a
minimum price for each draw down to ensure the company receives an acceptable
price. Yorkville will receive a fee of GBP300,000 for the provision of this SEDA
facility and 400,000 warrants at an exercise price of 175% of 29 October's
closing price

2. Separately San Leon has also agreed an unsecured loan facility of up to
GBP2.2 million with Yorkville to be drawn down at San Leon's discretion. The
facility, if drawn, carries an interest rate of 9 per cent. per annum .

3. San Leon is also pleased to announce that it has raised gross proceeds of
GBP1.625 million through a placing by Daniel Stewart Securities on the Company's
behalf of 11,205,385 new ordinary shares of Eur0.05 each par value (the "Placing
Shares") at a price of 14.5 pence per Placing Share. The placing price
represents a discount of approximately 2.4 per cent. to the volume weighted
average price for the 10-day period ending 29 October 2010, being the last
dealing day prior to this announcement. The placing shares represent
approximately 2.6 per cent. of the Company's issued share capital. The Placing
Shares will be issued in order to satisfy demand by institutional clients of
Daniel Stewart Securities and the allotment of the Placing Shares is conditional
upon admission to trading on AIM ("Admission"). The Placing Shares will, when
issued, rank pari passu with the Company's existing issued ordinary shares.
Application will be made for admission and dealings in the Placing Shares to
commence on AIM at 8.00 a.m. on 5 November 2010.
Following admission the Company's enlarged share capital will comprise
436,714,838 ordinary shares with voting rights. The Company does not hold any
ordinary shares in treasury. Therefore the total number of ordinary shares in
the Company with voting rights will be 436,714,838 which may 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 FSA's
Disclosure and Transparency Rules.

Oisín Fanning, Executive Chairman of San Leon, stated:

"We are very pleased with the funding which allows us to continue to look
forward to developing our assets in order to bring value for all our supportive
For further information contact:

| San Leon Energy Plc | Tel: + 353 1291 6292 |
| Oisin Fanning, Chairman | |
| Philip Thompson, Chief | |
| Executive Officer | |
| | |
| Daniel Stewart Securities | |
| Chris Theis | Tel: +44 (0) 20 7776 6934 |
| | |
| Arbuthnot Securities (NOMAD) | Tel: +44 (0) 20 7012 2000 |
| Nick Tulloch | |
| Ben Wells | |
| | |
| College Hill Associates | Tel: +44 (0) 207 457 2020 |
| Nick Elwes | |

This information is provided by RNS
The company news service from the London Stock Exchange


(END) Dow Jones Newswires
01-11-10 0700GMT


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