SOURCE: Xcite Energy Limited

October 27, 2011 13:43 ET

Additional Listing and Total Voting Rights

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Oct 27, 2011) -




THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES



TSX-V, LSE-AIM: XEL

27 October 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")

Additional Listing and Total Voting Rights

Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 25 October 2011, the Company announces that it has received conditional approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM("Admission")of2,707,504 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares").

The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on1 November 2011.

Following Admission, the Company's enlarged issued share capital will comprise186,827,754 Ordinary Shares with one voting right per share. There are no shares held intreasury. The total number of voting rights in the Company is therefore186,827,754.

This figure of 186,827,754 Ordinary Shares 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Oriel Securities which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Morgan Stanley which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

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

END

Contact Information

  • ENQUIRIES:

    Xcite Energy Limited
    Richard Smith
    Chief Executive Officer
    Rupert Cole
    Chief Financial Officer
    +44 (0) 1483 549 063

    Oriel Securities (Joint Broker and Nomad)
    Emma Griffin
    Partner
    Simon Edwards
    Partner
    +44 (0) 207 710 7600

    Morgan Stanley (Joint Broker)
    Andrew Foster
    Managing Director
    +44 (0) 207 425 8000

    Pelham Bell Pottinger
    Mark Antelme
    Director
    Henry Lerwill
    +44 (0) 207 861 3232

    Paradox Public Relations
    Jean-Francois Meilleur
    Consultant
    +1 514 341 0408