REG - Oneiro Energy PLC - Appointment of Chairman & Restoration of Trading

Oneiro EnergyAnnouncement

05/09/2023 13:30

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RNS Number : 4557L  Oneiro Energy PLC  05 September 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

5 September 2023

Oneiro Energy PLC

("Oneiro" or the "Company")

 

Appointment of Chairman

Proposed Issue of Warrants

Restoration of Trading

Appointment of Financial Adviser

 

Appointment of Chairman

 

Oneiro Energy PLC (LSE:ONE), the LSE-quoted Company focussed on energy
transition, announces the appointment today of Andrew ("Andy") Yeo to the
Board of the Company as Non-Executive Chairman. Robert Jones will remain on
the Board as a Non-Executive Director.

 

Mr Yeo has significant expertise in the oil and gas sector and currently
serves as Chief Executive Officer of AIM-quoted Baron Oil PLC. In addition to
this, he has held a variety of roles in private equity and has operational and
financial experience in exploration and production activities whilst serving
as CFO of Wessex Exploration PLC. He brings 20 years' experience in
multi-discipline corporate advisory services, having worked for UBS and ABN
AMRO Hoare Govett before becoming a founder member of Evolution Securities,
where he was a board member and Executive Director. He holds a BA (Hons) in
Economics from the University of Essex.

 

Proposed Issue of Warrants

 

Mr Yeo will receive 1,500,000 warrants to subscribe for the Company's ordinary
shares of 0.85 pence each ("Ordinary Shares"), exercisable at a price of 10
pence per Ordinary Share. These warrants will only be issued upon successful
completion of a reverse takeover ("RTO") in accordance with the Company's
strategy and will have a term of 3 years from the admission to trading of the
Ordinary Shares following the RTO. A further announcement will be made in
relation to these warrants at the appropriate time.

 

Rob Jones, Non-Executive Director of Oneiro Energy, commented:

"We are delighted to welcome Andy to the board of Oneiro. In the last few
years, he has created significant shareholder value at Baron Oil as he has
taken the Chuditch discovery up the value curve ahead of a future appraisal
well. We look forward to working with him as we evaluate a number of highly
exciting opportunities."

 

Andy Yeo, Non-Executive Chairman of Oneiro Energy, commented:

"It is a great opportunity to join Oneiro Energy at the early stages of their
journey in the public markets. They have a very strong technical team,
supportive shareholders and as such should find themselves well positioned for
a transaction."

 

Restoration of Trading

 

The Company is pleased to confirm that following the announcement of the
publication of its audited annual report and accounts for the year to 31
January 2023 on 1 September 2023, the Company's Ordinary Shares have been
restored to trading on the Main Market of the London Stock Exchange with
effect from 13:00 today.

 

Appointment of Financial Adviser

 

The Company is pleased to announce the appointment of Allenby Capital Limited
as its Financial Adviser.

 

 

Oneiro Energy PLC

Robert Jones

c/o Peterhouse Capital Limited

+44 (0) 20 7469 0930

 

Allenby Capital Limited (Financial Adviser)

Nick Harriss / Alex Brearley / Lauren Wright

+44 (0) 20 3328 5656

 

Peterhouse Capital Limited (Broker)

Lucy Williams / Duncan Vasey

+44 (0) 20 7469 0930

 

 

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