Tullow Oil plc announces share offer on Ghana Stock Exchange (GSE)

Indonesia stock info - Tullow Oil plc announces share offer on Ghana Stock Exchange (GSE) ; Tullow Oil plc (Tullow) is pleased to announce that it has allotted 3,531,546 ordinary shares of 10p each in the capital of Tullow (Shares), which rank pari passu with the existing Shares in issue, pursuant to the offer for subscription of up to 4,000,000 Shares (the Offer) in connection with Tullow’s secondary listing on the Ghana Stock Exchange (GSE).

This is the largest primary share offer ever completed on the GSE and this will more than double the market capitalisation of the GSE.

As previously announced on 13 June 2011, the Offer was open between 13 June and 4 July 2011 with Shares offered at 31 Ghana Cedis. During this period, 10,147 valid applications were received for 3,531,546 Shares representing a total amount of 109,477,926 Ghana Cedis (approximately 72.3 million US Dollars). It is expected that the secondary listing and the first day of trading of Shares on the GSE will be on 27 July 2011.

Application will be made to the UK Listing Authority for the admission to the Official List of those 3,531,546 Shares and to the London Stock Exchange plc for such Shares to be admitted to trading. Admission of such Shares to the Official List and to trading on the London Stock Exchange plc's main market for listed securities is expected to occur on 27 July 2011. It is expected that such Shares will be admitted to trading on the Irish Stock Exchange on the same day.


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