Cap Energy Ltd

February 17, 2012 08:24 ET

Proposed Recapitalisation of the Company

                                                                                               17 February 2012

                                              CAP ENERGY LIMITED
                                           ("CAP" or the "Company")

                                   Proposed Recapitalisation of the Company
On  18  August 2011, the Directors requested that trading in the Company's ordinary shares be suspended pending
clarification  of  the  Company's  financial position. At that time, CAP also  reported  that  it  was  holding
discussions with parties which may or may not lead to a transaction involving the Company.

CAP announces that it has today signed Heads of Agreement with investors who have indicated their intention  to
inject new capital into the Company and to change its strategic direction (the "Proposals").

The  Proposals, which will require, amongst other things, the approval of shareholders and the  holders  of  8%
Convertible Unsecured Loan Notes 2012 of the Company, will result in the unwinding of CAP's relationships  with
CSV Holdings, Inc. and the re-classification of CAP as an Investment Vehicle for the purposes of the PLUS Rules
for Issuers.

PLUS Stock Exchange plc has agreed to extend the suspension in trading of the Company's ordinary shares pending
completion of the Proposals.

A further announcement will be made as and when appropriate.

The Directors of Cap are responsible for the contents of this announcement.

Contact details:

Cap Energy Limited
John Killer, Managing Director
Tel: 07979 903673

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Tel: 020 7368 6959

Contact Information

  • Cap Energy Ltd