Sheba Exploration (UK) plc
LSE : SHE

January 12, 2011 02:00 ET

Private Placing

                                                                                       12 January 2011
                                                                             GB00B02WHQ80/GBP/PLUS-exn


                                      SHEBA EXPLORATION (UK) PLC
                                      ("Sheba" or the "Company")

                                            Private Placing

Sheba  Exploration  (UK)  Plc is pleased to announce that on 11 January 2011 it  undertook  a  private
placing  of  1,250,000  ordinary  shares at a price of 2p per share raising  £25,000.   There  are  no
warrants associated with the private placement.

The  proceeds will be used by Sheba for administrative expenses and the ongoing development  of  their
exploration licences in Ethiopia.

The  enlarged  issued  share  capital of the Company following this placing  is  103,676,665  ordinary
shares, of which the Directors are interested in 34,723,332 ordinary shares representing 33.49%.

The Directors of Sheba Exploration (UK) Plc are responsible for the contents of this announcement.

Contact Details:
Sheba Exploration (UK) Plc
Richard Brooker
Tel: 00 353 87699 8401

Corporate Adviser:
St Helens Capital Partners LLP
Duncan Vasey/Mark Anwyl
Tel: 020 7368 6959

Contact Information

  • Sheba Exploration (UK) plc