REG - Empyrean Energy PLC - Results of Retail Offer

Empyrean EnergyAnnouncement

11/11/2024 10:30

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RNS Number : 7225L  Empyrean Energy PLC  11 November 2024

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO
SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS RELATING TO THE RETAIL
OFFER ARE ONLY BEING COMUNICATED TO, AND MAY ONLY BE ACTED UPON BY, THOSE
PERSONS IN THE UNITED KINGDOM FALLING WITHIN ARTICLE 43 OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED
(WHICH INCLUDES AN EXISTING MEMBER OF EMPYREAN ENERGY PLC.  ANY INVESTMENT OR
INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO
SUCH PERSONS AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS. THIS ANNOUNCEMENT
IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY
OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO
PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF EMPYREAN ENERGY PLC.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE
OF THE EU (WITHDRAWAL) ACT 2018.

 

 

11 November 2024

Empyrean Energy plc

Results of Retail Offer

 

Empyrean Energy plc or the "Company" (AIM:EME) advises, further to the
announcements made on 6 November 2024, the results of the opportunity for its
existing retail shareholders via the CMC CapX (the "Retail Offer") to
subscribe for new ordinary shares in the capital of the Company. The Company
announces that it has conditionally raised gross proceeds of approximately
£59,399 through the conditional issue of 59,399,000 new ordinary shares
pursuant to the Retail Offer, for which acceptances closed at 5.00 p.m. on 8
November 2024, and in addition, the Company has accepted direct subscriptions
for a further amount of £75,268 (75,268,332 new ordinary shares) on the same
terms.

 

Accordingly, the Company has raised gross proceeds of approximately £1.255m
from the aggregated Placing and Subscription announced on 6 November 2024 when
combined with the Retail Offer and additional direct subscriptions received as
at  today's date. As a result, the Company will, subject to approval at a
general meeting on or about 2 December 2024 and following the Capital
Reorganisation, issue a total of 1,255,167,332 new Ordinary Shares pursuant to
the Placing, direct Subscriptions and Retail Offer (together the "Fundraising
Shares"). All of the Fundraising Shares are being issued at a price of 0.1p
(the Issue Price").

 

As advised on 6 November 2024 the Company conditionally raised £1.12 million
(before costs) pursuant to the Placing and the Subscription.

 

The issue of the Fundraising Shares is conditional upon the passing of the
resolutions to be put to shareholders of the Company at a General Meeting,
expected to be held at the offices of the Cavendish at 1 Bartholomew Close,
London, EC1A 7BL at 10.00 a.m. on Monday 2 December 2024.  The issue of the
Fundraising Shares is also  conditional on being admitted to trading on the
AIM market operated by London Stock Exchange plc ("Admission").

 

Admission is expected to take place at 8.00 a.m. on 3 December 2024.
Completion of the Retail Offer is conditional, inter alia, upon the
completion of the Placing.

 

Following Admission, the Company will have 2,550,092,441 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.

 

Terms used but not defined in this announcement have the same meaning as set
out in the Company's announcement released on 6 November 2024.

 

 

 

For Further Information

 

 Empyrean Energy plc     T: +61 8 6146 5325

 Retail Offer            capx@cmcmarkets.com / telephone number +44 (0) 20 3003 8632

 CMC CapX

 

Further information on the Company can be found on its website at
www.empyreanenergy.com (http://www.empyreanenergy.com)

 

 

 

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