Dec 2, 2015 - outside the United States in an offshore transaction in reliance on Regulation S under the. Securities Act
HIBISCUS PETROLEUM BERHAD - PRESS RELEASE INVESTMENT INTO HIBISCUS PETROLEUM BY POLO RESOURCES LIMITED
Polo Resources to acquire 8.40% Hibiscus Petroleum shares via private placement Polo Resources best placed to become a strategic shareholder of Hibiscus Petroleum
Kuala Lumpur, 2 December 2015: Hibiscus Petroleum Berhad (“Hibiscus Petroleum”) is pleased to announce that it has entered into a placement agreement to issue 90,000,000 new ordinary shares of RM0.01 each in Hibiscus Petroleum (“Hibiscus Petroleum Shares”) at RM0.235 per Hibiscus Petroleum Share to Polo Investments Limited, a subsidiary of AIM listed Polo Resources Limited (AIM:POL) (“Polo Resources”). Upon the completion of the issuance, Polo Resources, via its subsidiary will hold a strategic 8.40% of the enlarged issued share capital of Hibiscus Petroleum. Polo Resources is a globally focused natural resources and mine development investment company, listed on the AIM of The London Stock Exchange. Polo Resources has interests in oil and gas, coal, gold, iron ore, copper and phosphate. Polo Resources selects, acquires and manages substantial investments in companies and projects with strong value enhancement potential and attractive growth prospects, and utilise this ability to deliver value-adding returns. Polo Resources Executive Chairman, Datuk Michael Tang said, “Although the oil and gas industry is languishing in an environment of oversupply and low prices, Hibiscus Petroleum is on track to generate positive cash flow and grow its high quality asset base. We are very excited about the prospects of our investment in Hibiscus Petroleum.” Hibiscus Petroleum’s Managing Director, Dr. Kenneth Pereira said, “We are truly excited by the opportunity to have Polo Resources as a strategic investor in the company. We look forward to working with Polo Resources as we build out our business plan into 2016 and beyond.”
For enquiries, kindly contact: Head Office HIBISCUS PETROLEUM BERHAD (798322-P) Second Floor, Tower Block Syed Kechik Foundation Building Jalan Kapas, Bangsar 59100 Kuala Lumpur Tel : +6 03 2092 1300 Fax : +6 03 2092 1301
Investors and Media Uday Jayaram (VP Corporate Planning & Investor Relations)
[email protected] Telephone: +60 12 298 2988 www.hibiscuspetroleum.com
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About Hibiscus Petroleum Berhad Hibiscus Petroleum Berhad (HIBISCS: 5199) is Malaysia’s first listed independent exploration and production company. It was listed on the Main Market of Bursa Malaysia Securities Berhad in July 2011. Hibiscus Petroleum is focused on the exploration, development and production of oil and gas fields in Europe, Australia, Middle East, and Southeast Asia regions. For more information, please visit our website at http://www.hibiscuspetroleum.com.
The shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the shares are being offered and sold only (i) outside the United States in an offshore transaction in reliance on Regulation S under the Securities Act, and (ii) in the United States only to persons who are "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in a transaction not involving any public offering (within the meaning of the Securities Act).
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