REG - Europa Oil & Gas - Results of the Placing

Europa Oil & Gas (Holdings)Announcement

10/02/2026 07:15

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RNS Number : 3266S  Europa Oil & Gas (Holdings) PLC  10 February 2026

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil
& Gas

 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH
OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES
IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA
AND NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION
OR SALE WOULD BE UNLAWFUL OR ‎CONTRAVENE ANY REGISTRATION OR QUALIFICATION
REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH ‎JURISDICTION‎. NEITHER
THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE
RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY
JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

10 February 2026

Europa Oil & Gas (Holdings) plc

('Europa' or the 'Company')

 

Results of the Placing

 

 

Europa Oil & Gas (Holdings) plc, (AIM: EOG) the AIM quoted West Africa, UK
and Ireland focused oil and gas exploration, development and production
company, is pleased to announce that it has conditionally raised gross
proceeds of approximately £3.5m, before expenses, through the conditional
placing of 291,667,000 new Ordinary Shares of 1 pence each (the "Placing
Shares") at an issue price of 1.2 pence per share (the "Issue Price").

In addition, one warrant will be issued for every four Placing Shares
("Placing Warrant") with an exercise price of 2 pence and an expiry date 2
years after the date of the Placing Shares' admission to AIM.

The issue of the Placing Shares and the Placing Warrants is conditional, inter
alia, on shareholder approval at a General Meeting of the Company which will
take place on or around 27 February 2026 (the "General Meeting").

The proceeds will extend the Company's cash runway to ensure that the
Barracuda prospect is drilled and provide additional financial resources for
the Company's ongoing working capital needs.

IF THE RESOLUTION TO BE PROPOSED AT THE GENERAL MEETING REGARDING THE ISSUE OF
THE PLACING SHARES AND ANY SHARES TO BE ISSUED UNDER THE WRAP RETAIL OFFER IS
NOT PASSED, THE COMPANY WILL NOT HAVE SUFFICIENT FUNDS TO MAINTAIN ITS CURRENT
INTEREST IN ANTLER (AND THEREFORE THE EG-08 LICENCE) NOR TO CONTINUE ITS OTHER
OPERATIONS AND THERE WOULD BE A MATERIAL UNCERTAINTY OVER THE COMPANY'S
ABILITY TO CONTINUE AS A GOING CONCERN.

The Circular, containing further details of the Placing is expected to be
posted by the Company to its shareholders shortly and will contain a notice
convening the General Meeting. After posting, the Circular will also be
available on the Company's website.

In connection to the Placing, Tennyson Securities (a trading name for Shard
Capital Partners LLP) are acting as sole Broker to the Company.

 

Further Information

Admission of Placing Shares

If the necessary resolutions are not passed at the General Meeting, the
Placing Shares will not be issued, and the proceeds of the Placing will not be
available to the Company.

Application will be made for the Placing Shares to be admitted to trading on
the AIM market of London Stock Exchange plc ("Admission"). Assuming the
necessary shareholder resolutions are passed at the General Meeting, it is
expected that Admission will take place at or around 8.00 a.m. (London time)
on 3 March 2026 (or such later date as may be agreed between the Company and
Tennyson) but in any event not later than 8.00 a.m. on 31 March 2026. The
Placing is conditional upon, inter alia, Admission becoming effective and the
placing agreement between the Company, and Tennyson (the "Placing Agreement")
not having been terminated.

Broker Warrants

In connection with the Placing, 10,208,345 broker warrants are proposed to be
granted to Tennyson Securities, exercisable at the Issue Price with a
three-year expiry.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon publication via Regulatory
Information Service ('RIS'), this information is now in the public domain.

** ENDS **

For Further Information

 

 William Holland / Louise Armstrong                  Europa Oil & Gas (Holdings) plc               mail@europaoil.com

 Peter Krens                                           Tennyson Securities                         +44 (0) 20 7186 9033

 Samantha Harrison / Ciara Donnelly / Elliot Peters    Grant Thornton UK LLP - Nominated Adviser   +44 (0) 203 100 0214

 Patrick d'Ancona / Anna Sutton                        Vigo Consulting                             +44 (0) 20 7390 0230

 

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