REG - Peel Hunt LLP Ithaca Energy PLC - Results of placing in Ithaca Energy plc

Ithaca EnergyAnnouncement

Tue 07:00

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RNS Number : 5542X  Peel Hunt LLP  02 September 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF
SOUTH AFRICA, ISRAEL OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR
SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS FOR
INFORMATION ONLY AND DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES
IN THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA,
ISRAEL OR JAPAN OR ANY OTHER JURISDICTION.

PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

02 September 2025

Results of Placing of ordinary shares in Ithaca Energy plc ("Ithaca Energy")

Further to the announcement released on 01 September 2025, DKL Energy Limited
("Delek") and Eni UK Limited ("Eni UK") (the "Sellers") announce that pursuant
to the Placing, the Sellers have sold, in aggregate, 49,611,974 ordinary
shares in the capital of Ithaca Energy by way of an accelerated bookbuild to
eligible institutional investors at a price of 213.75 pence per ordinary
share, raising gross proceeds of approximately £106.0 million. The Placing
Shares represent approximately 3.0 per cent. of Ithaca Energy's issued share
capital.

Following the completion of the Placing, Delek will hold 834,563,127 ordinary
shares and Eni will hold 594,048,748 ordinary shares, corresponding to
approximately 50.5 per cent. and 35.9 per cent., respectively, of Ithaca
Energy's entire issued share capital. These shares are subject to a 90-day
lock up undertaking (subject to certain customary exceptions and waiver by the
Sole Global Co-ordinator).

The proceeds of the Placing are payable in cash on usual settlement terms, and
closing of the Placing is expected to occur on a T+2 basis on 04 September
2025.

Peel Hunt LLP acted as sole global co-ordinator and joint bookrunner and
Discount Capital acted as joint bookrunner on the Placing.

Ithaca Energy is not party to the Placing and will not receive any proceeds
from the Placing.

ENQUIRIES

Peel Hunt LLP (Sole Global Co-ordinator and Joint Bookrunner)

Richard Crichton / Brian Hanratty / Georgia Langoulant

Sohail Akbar / Nick Wilks / Ambika Bose

+44 (0) 20 7418 8900

 

Discount Capital Underwriting Ltd (Joint Bookrunner)

Liran Razmovitch / Anna Alzenberg Ben Lulu

+972-3-5652536

 

IMPORTANT NOTICES

This information contained in this announcement is for background purposes
only and does not purport to be full or complete. No reliance may be placed by
any person for any purpose on the information contained in this announcement
or its accuracy, fairness or completeness.

This announcement is not for publication or distribution or release, directly
or indirectly, in or into the United States of America (including its
territories and possessions, any state of the United States and the District
of Columbia), Canada, Australia, the Republic of South Africa, Israel, Japan
or any other jurisdiction where such an announcement would be unlawful. The
distribution of this announcement and the offer and sale of the Placing Shares
may be restricted by law in certain jurisdictions and persons into whose
possession this document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction. No action has been taken that would permit an
offering of the Placing Shares or possession or distribution of this
announcement in any jurisdiction where action for that purpose is required.

This announcement does not constitute or form part of an offer for sale or
solicitation of an offer to purchase or subscribe for securities in the United
States, Canada, Australia, the Republic of South Africa, Israel, Japan or any
other jurisdiction. The Placing Shares have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"Securities Act"), and may not be offered or sold, directly or indirectly, in
the United States, absent registration under or an exemption from, or
transaction not subject to, the registration requirements of, the Securities
Act. No public offering of securities is being made in the United States or in
any other jurisdiction.

In member states of the European Economic Area ("EEA") (each, a "Relevant
Member State"), this announcement is directed exclusively at persons who are
"qualified investors" within the meaning of the Regulation (EU) 2017/1129 (the
"Prospectus Regulation").

In the United Kingdom, this announcement is only being distributed to, and is
only directed at, and any investment or investment activity to which this
announcement relates is available only to, and will be engaged in only with,
persons who are "qualified investors" within the meaning of the UK Prospectus
Regulation and who are (i) investment professionals falling with Article 19(5)
of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended) (the "Order"); or (ii) high net worth entities falling
within Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom an
offer of the Placing Shares may otherwise be lawfully communicated (all such
persons together being referred to as "relevant persons"). Persons who are not
relevant persons should not take any action on the basis of this announcement
and should not act or rely on it. For these purposes, the expression "UK
Prospectus Regulation" means the Prospectus Regulation as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018.

No prospectus or offering document has been or will be prepared in connection
with the Placing. Any publicly available information relating to Ithaca Energy
and Ithaca Energy's shares has not been independently verified by the Sellers,
the Joint Bookrunners or any of their respective affiliates. The information
contained in this announcement is for background purposes only and does not
purport to be full or complete. No reliance may be placed for any purpose on
the information contained in this announcement or its accuracy or completeness
and this announcement should not be considered a recommendation by the either
Seller, Peel Hunt, Discount Capital or any of their respective affiliates in
relation to any purchase of securities of the Company.

This announcement does not purport to identify or suggest the risks (direct or
indirect) which may be associated with an investment in Ithaca Energy or its
shares.

Peel Hunt is authorised and regulated in the United Kingdom by the Financial
Conduct Authority. Peel Hunt is acting for the Sellers only in connection with
the Placing and no one else, and will not be responsible to anyone other than
the Sellers for providing the protections offered to its clients nor for
providing advice in relation to the Placing Shares or the Placing, the
contents of this announcement or any transaction, arrangement or other matter
referred to in this announcement.

Neither Peel Hunt nor any of its directors, officers, employees, advisers or
affiliates accepts any responsibility whatsoever and makes no representation
or warranty, express or implied, for the contents of this announcement,
including its accuracy, completeness or verification or for any other
information in connection with the Sellers, the Company or its subsidiaries
and/or the Placing, and nothing in this announcement is or shall be relied
upon as a promise or representation in this respect, whether as to the past or
the future. Peel Hunt accordingly disclaims to the fullest extent permitted by
law all and any responsibility and liability, whether arising in tort,
contract or otherwise, which it might otherwise have in respect of this
announcement and any such statement.

References to time in this announcement are to London time, unless otherwise
stated. All times and dates in this announcement may be subject to amendment.

ENDS

 

 

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