Cap Energy Ltd
LSE : CAPP

October 03, 2013 02:00 ET

Share Capital and Funding Update

                                                                                                            
                                                                                              3 October 2013
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                                             CAP ENERGY LIMITED
                                          ("Cap" or the "Company")
                                                      
                                      Share Capital and Funding Update

Further  to  CAP's announcements of March 2013 and 23 July 2013 and following the passing of the resolutions
at  the  Annual  General Meeting of the Company held on 27 August 2013 ("the AGM"),  the  Directors  of  the
Company are pleased to provide the following update to shareholders.

At  the  AGM, a resolution was passed to ratify the granting of convertible loan notes in respect  of  loans
made to the Company by Global Energy Trade Limited ("GET"), Lina Haidar and Alexander Haly. Lina Haidar  and
Alexander  Haly  are  Directors of the Company and the sole shareholders in  GET.  Following  the  AGM,  the
following events have occurred:

    *     Lina Haidar and Alexander Haly have transferred all of their existing convertible loan  notes  and 
          the convertible loan notes approved at the AGM to GET, less convertible loan notes to the value of 
          GBP 13,000 which  they  have  transferred  to  Pierantonio  Tassini, the Company's Chief Operating 
          Officer;
          
    *     GET has converted GBP 1,009,000 of convertible loan notes into 20,174,109  ordinary  shares  of 5p 
          each in the Company ("Ordinary Shares") at a price of 5 pence per share;
        
    *     Pierantonio Tassini has converted the GBP 13,000 of convertible loan notes held by him into 264,142
          Ordinary Shares at a price equivalent to 5 pence per share;
        
    *     Of  the  loan  of USD  2,000,000  announced by the Company on 23 July 2013, USD 1,350,000 has  been
          converted into 783,718 Ordinary Shares at a price equivalent to  106  pence  per  share. The  final 
          payment of USD 650,000 is due imminently whereupon a further 377,346 Ordinary Shares will be issued;
        
    *     The  Company  has signed a subscription agreement with a private  investor  who  has  committed  to
          subscribe USD 3,500,000 for  the  issue  of  a  total  of  1,451,331  Ordinary  Shares. The   first 
          USD 1,000,000 tranche of this commitment has been received  by  the  Company  and 414,666  Ordinary 
          Shares have been issued at a price equivalent to 148 pence per share.

The  funds received by the Company will be used to further progress Cap's interests  in its Block 1 and Block
5B  licences offshore Guinea Bissau. Further information about these licences can  be found on the  Company's
website at www.capenergy.co.uk.

The  table below sets out the interests of Directors and major shareholder following  the issues of  Ordinary
Shares referred to above:

 Name                                    Number of Ordinary Shares      Percentage of Issued Share Capital
 Global Energy Trade Limited                               23,174,128                                83.92
 A Haly (Director)                                          1,200,000                                 4.35
 L Haidar (Director)                                          800,000                                 2.90
 M Haidar                                                     493,452                                 1.79
 S Pereira                                                    414,666                                 1.50
 M de sa Pereira                                              290,266                                 1.05
 Pierantonio Tassini (Director)                               264,142                                 0.96
 Other shareholders                                           975,968                                 3.53
                                                                                                          
 Total issued share capital                               27, 612,622                               100.00

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

For further information please contact:

Tim Hearley, Chairman
Tel: +44 (0) 7850 390998
Email: tim.hearley@capenergyplc.com

Lina Haidar, Chief Executive Officer
Tel: +44 (0) 20 7491 9196
Email: lina.haidar@capenergyplc.com

Corporate Adviser:
Mark Anwyl and Duncan Vasey
Peterhouse Corporate Finance Limited
Tel: +44 (0) 20 7469 0930
Email: duncan@pcorpfin.com

CAP Energy Limited
25 Dover Street
London W1S 4LX
Tel: +44 (0) 20 7491 9196
Email: info@capenergyplc.com




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