REG - Angus Energy PLC - Result of GM, TVR and Saltfleetby Update

Angus EnergyAnnouncement

09/01/2023 16:00

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RNS Number : 1412M  Angus Energy PLC  09 January 2023

 

9 January 2023

 

Angus Energy Plc

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

(AIM: ANGS)

 

Result of General Meeting

 

Issue of Equity, TVR and Saltfleetby Update

 

The Company announces that at the General Meeting held earlier today all
resolutions were passed.

Accordingly, and further to the announcement of a fundraising (the
"Fundraising") on 19 December 2022 conducted in two tranches, the Company now
has sufficient authorities to issue the second tranche of 89,781,000 new
Ordinary Shares together with 311,250,000 warrants ("Conditional
Subscription") in respect of the entire Fundraising

In addition, the Company now has sufficient authorities to issue Forum Energy
Services Ltd ("Forum") 60,606,061 new Ordinary Shares at the Fundraising price
of 1.65 pence per share (together with the issue of 30,303,030 warrants on the
same basis as applicable to the Fundraising) in settlement of the Company's
obligation to pay certain deferred consideration of £1,000,000 to Forum in
accordance with the Saltfleetby SPA as announced on 24 May 2022 ("Forum
Issue").

Application has been made to the London Stock Exchange for admission to AIM of
the new Ordinary Shares, which will rank pari passu with all existing ordinary
shares, to be issued under the Conditional Subscription and the Forum Issue
("Admission").  Admission will become effective on or around 12 January 2023.
The total Warrants and Forum Warrants, subject to the passing of the
Resolutions and assuming no exercise of existing options and warrants, would
be 341,553,030 representing 9.96% of the issued share capital of the Company
as enlarged by the Fundraising and the Forum Share Issue.

For the purposes of the FCA's Disclosure and Transparency Rules ("DTRs"),
following Admission of the new Ordinary Shares, the total number of Ordinary
Shares in the capital of the Company in issue will be 3,430,376,075 with
voting rights. This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company's share
capital pursuant to the Company's Articles.

 

Saltfleetby Sidetrack Update

 

The Company is pleased to announce that drilling operations recommenced this
week and the programme has presently reached 2553 metres Measured Depth.

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) or contact:

Enquiries:

 

Angus Energy Plc
                www.angusenergy.co.uk
(http://www.angusenergy.co.uk)

 

George Lucan
 
                Tel: +44 (0) 208 899 6380

 

Beaumont Cornish Limited (Nomad)      www.beaumontcornish.com
(http://www.beaumontcornish.com)

 

James Biddle / Roland Cornish                   Tel: +44 (0)
207 628 3396

 

WH Ireland Limited (Broker)

 

Katy Mitchell / Harry Ansell
Tel: +44 (0) 207 220 1666

 

Flagstaff PR/IR
 
                angus@flagstaffcomms.com

 

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

 

Aleph Commodities
                info@alephcommodities.com

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

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