SOURCE: Xcite Energy Ltd

January 06, 2011 02:00 ET

Xcite Energy Limited ("Xcite Energy" or the "Company") Exercise of Share Options

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - January 6, 2011) - This Announcement Is Not for Release, Publication or Distribution in or Into the United States.

Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL) - The Company announces that application has been made for the admission to AIM ("Admission") of 100,000 new ordinary shares without par value in the Company ("Ordinary Shares"), pursuant to the exercise of options. The new Ordinary Shares shall rank pari passu with the Company's existing issued Ordinary Shares and dealings are expected to commence on 11 January 2011.

Following Admission, the Company's enlarged issued share capital will comprise 158,703,998 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 158,703,998.

This figure of 158,703,998 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.

Contact Information

  • ENQUIRIES:

    Xcite Energy Limited
    +44 (0) 1330 826740
    Richard Smith
    Chief Executive Officer
    Rupert Cole
    Chief Financial Officer

    Arbuthnot Securities Limited
    (Nomad and Broker)
    +44 (0)20 7012 2000
    Antonio Bossi
    Director

    Pelham Bell Pottinger
    +44 (0) 20 7861 3232
    Mark Antelme
    Director
    Henry Lerwill

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