REG - Angus Energy PLC - Deferred Consideration and New Compressor Update

Angus EnergyAnnouncement

19/03/2025 07:00

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RNS Number : 1838B  Angus Energy PLC  19 March 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 March 2025

Angus Energy PLC

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")
(AIM:ANGS)

Deferred Consideration and Update on New Compressor

Deferred Consideration, Interest Shares and Total Voting Rights

 

Pursuant to the Revised Forum Arrangements previously announced on 22 February
2024, the Company has received a conversion notice from Forum for £1,000,000
of the Deferred Consideration. The conversion notice covers principal payments
due up to and including 31 December 2024 and will be converted into
427,893,123 Angus Energy Ordinary Shares. The Company will also be issuing a
further 137,145,481 Angus Energy Ordinary Shares (together, the "Deferred
Consideration Shares") in relation to accrued interest until 31 December 2024.

 

The new shares will rank pari passu with the Company's existing shares and
application has been made for the Deferred Consideration Shares to be admitted
to trading on AIM ("Admission"). It is expected that Admission will become
effective and dealings in the Deferred Consideration Shares will commence at
8:00 am on or around 24 March 2025.

 

Paul Forrest, on behalf of Forum said "as a committed shareholder, this
conversion reflects our confidence in the Company's future and its continued
growth potential. This is a long-term commitment, and we look forward to the
Company returning value to us all."

 

For the purposes of the FCA's Disclosure and Transparency Rules ("DTRs"),
following Admission of the new Ordinary Shares, the total issued share capital
of the Company will consist of 4,986,893,414 Ordinary Shares, each with equal
voting rights.

 

Booster Compressor update

 

The installation of the new booster compressor is progressing well with
commissioning and start-up on track to occur before the end of March 2025. The
compressor will allow Angus to operate Saltfleetby at lower well head
pressure, increasing production levels and field recovery.

 

END

 

For further information please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk)

 

Angus Energy Plc

 

Richard Herbert

Chief Executive
Director
Via Flagstaff

 

SP Angel Corporate Finance LLP (Nomad and Broker)      www.spangel.co.uk
(http://www.spangel.co.uk/)

 

Stuart Gledhill / Jen Clarke / Richard Hail    Tel: +44 (0)20 3470 0470

 

Flagstaff
PR/IR
angus@flagstaffcomms.com (mailto:angus@flagstaffcomms.com)

 

Tim Thompson / Fergus Mellon / Alison Alfrey Tel: +44 (0) 207 129 1474

 

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent oil and gas company. Angus is
the leading onshore gas producer in the UK and has ambitious plans to grow
onshore production and diversify internationally. Angus Energy has a 100%
interest in the Saltfleetby Gas Field (PEDL005), majority owns and operates
conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241)
and has a 25% interest in the Balcombe Licence (PEDL244). Angus Energy
operates all fields in which it has an interest.

 

 

 

 

 

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