REG - Deltic Energy PLC - Result of Open Offer

Deltic EnergyAnnouncement

30/09/2022 07:00

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RNS Number : 2596B  Deltic Energy PLC  30 September 2022

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Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

 

30 September 2022

 

Deltic Energy Plc ("Deltic" or "the Company")

Result of Open Offer

 

Deltic Energy Plc, the AIM-quoted natural resources investing company with a
high impact exploration and appraisal portfolio focused on the Southern and
Central North Sea, announces the results of the Open Offer pursuant to the
Placing, Subscription and Open Offer announced on 12 September 2022.

 

The Company is pleased to announce that it has received valid acceptances from
Qualifying Shareholders in respect of 27,395,708 Open Offer Shares.

 

All Qualifying Shareholders who have validly applied for Open Offer Shares
will receive their full and excess entitlements. Accordingly, the Open Offer
has conditionally raised total gross proceeds of approximately £0.96 million,
with a total of £15.96 million having been conditionally raised via the
Placing, Subscription and Open Offer.

 

The issuance of the 455,967,137 New Ordinary Shares pursuant to the Placing,
Subscription and Open Offer is subject to and conditional on the passing of
the Resolutions at the General Meeting to be held later today.

 

Upon Admission, the total number of Ordinary Shares in issue and voting rights
in the Company will be 1,861,931,992. The Company does not hold any shares in
treasury.

The above 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 share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms in this announcement shall have the same meaning as in the
announcement made by the Company on 12 September 2022 unless the context
requires otherwise.

 

Graham Swindells, Chief Executive of Deltic Energy, commented:

"I am very pleased to report that, subject to shareholder approval, we will
have raised funding of approximately £16 million, which is an excellent
result for the Company and means that the Company is funded for both Selene
and Pensacola. We are very grateful to our shareholders for their continued
support and we are excited about the next phase of our development,
particularly as we are about to drill our first well with Shell on the
Pensacola gas prospect."

 

**ENDS**

 

For further information please contact the following:

 Deltic Energy Plc                                                              Tel: +44 (0) 20 7887 2630

 Graham Swindells / Andrew Nunn / Sarah McLeod

 Allenby Capital Limited (Nominated Adviser & Joint                             Tel: +44 (0) 20 3328 5656
 Broker)

 David Hart / Alex Brearley (Corporate Finance)
 Kelly Gardiner (Sales and Corporate Broking)

 Stifel Nicolaus Europe Limited (Joint                                          Tel: +44 (0) 20 7710 7600
 Broker)

 Callum Stewart / Simon Mensley / Ashton Clanfield

 Canaccord Genuity Limited (Joint Bookrunner)

 Adam James / Gordon Hamilton / Sam Lucas                                       Tel: +44 (0) 20 7523 8000

 Vigo Consulting (IR Adviser)                                                   Tel: +44 (0) 20 7390 0230

 Patrick d'Ancona / Finlay Thomson / Kendall Hill

 

About Deltic Energy Plc

Deltic has created a strategically located portfolio of high-quality gas
exploration licences in the Southern North Sea over a number of licensing
rounds.  These licences are located in areas that have been underexplored
despite significant discoveries such as Tolmount, Breagh, Pegasus and Cygnus,
most of which have gone on to be developed and could provide ready access to
export infrastructure for any future developments on Deltic's licence acreage.

 

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