REG - Empyrean Energy PLC - Fundraising

Empyrean EnergyAnnouncement

Mon 09:15

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RNS Number : 4147G  Empyrean Energy PLC  28 April 2025

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF
IRELAND, THE REPUBLIC OF SOUTH AFRICA, HONG KONG OR ANY OTHER JURISDICTION IN
WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO
BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC
OF SOUTH AFRICA, HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE
SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE NEW SHARES IS BEING MADE
IN ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY
CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS. PLEASE
SEE THE IMPORTANT INFORMATION IN THE APPENDIX TO THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

28 April 2025

 

Empyrean Energy Plc

("Empyrean" or the "Company")

 

Fundraising

 

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development
company with interests in Australia, Indonesia and the United States, advises
that it has raised £600,000 (before costs) through a placing of 666,666,667
new ordinary shares of 0.01p each in the Company (the "Placing Shares") at a
price of 0.09p per Placing Share (the "Issue Price") (the "Placing").

 

CMC Markets Plc, trading as CMC CapX, is the Company's placing agent in
respect of the Placing.

 

A retail offer on the same terms as the Placing (the "Retail Offer" and,
together with the Placing, the "Fundraising") will commence immediately
following this Announcement and applications for this offer are expected to
close in 3 days. Details of the Retail Offer will be announced seperately.

 

Funds raised pursuant to the Fundraising will be used to test the potential
oil zone in the Wilson River-1 well and for general working capital.

 

The Placing is conditional on the Placing Shares being admitted to trading on
the AIM market operated by London Stock Exchange plc ("Admission"). Admission
is expected to take place on 2 May 2024.

 

Following Admission, the Company will have 4,401,759,108 New Ordinary Shares
in issue. This figure may be used by shareholders of the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Empyrean CEO, Tom Kelly,commented:

 

"Empyrean is excited and looking forward to the near term testing of a
potential oil zone in the Wilson River-1 well."

 

Further details of the Fundraising are set out below.

 

For further information please visit www.empyreanenergy.com
(http://www.empyreanenergy.com/)  or contact the following:

 

 Empyrean Energy plc                      Tel: +61 (08) 6146 5325
 Tom Kelly

 Cavendish Capital Markets Limited        Tel: +44 (0) 207 220 0500

 (Nominated Advisor and Broker)
 Neil McDonald

 Pearl Kellie

 Novum Securities Limited (Joint Broker)  Tel: +44 (0) 207 399 9400
 Colin Rowbury

 

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 

                                                                                2025
 Announcement of the Fundraising                                                28 April
 Announcement of the result of the Retail Offer                                 1 May
 Admission effective and commencement of dealings in the Placing Shares on AIM  On or around, 8.00 a.m. on 2 May
 Placing Shares credited to CREST stock accounts                                2 May
 Despatch of definitive share certificates in respect of Placing Shares to be   by 2 May
 issued in certificated form

 

Notes:

(i)            References to times in this document are to London
time (unless otherwise stated).

(ii)           If any of the above times or dates should change, the
revised times and/or dates will be notified by an announcement to an RIS.

(iii)          The timing of the events in the above timetable and in
the rest of this document is indicative only.

 

 

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