REG - Oracle Power PLC - Placing to Raise £318,600

Oracle PowerAnnouncement

22/04/2025 07:00

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RNS Number : 6356F  Oracle Power PLC  22 April 2025

22 April 2025

 

Oracle Power PLC

("Oracle", the "Company" or the "Group")

 

Placing to Raise £318,600

 

Oracle Power PLC (AIM: ORCP), the international project developer, is pleased
to announce that it has raised gross proceeds of £318,600 by way of a placing
of 1,770,000,000 new ordinary shares in the capital of the Company (the
"Placing Shares") at a price of 0.018 pence per share (the "Placing").

 

The net proceeds of the Placing will be primarily used to progress the
development of the projects in Australia, as well as supporting the
advancement of the projects in Pakistan, and for general working capital
purposes.

 

CMC Markets UK plc, trading as CMC CapX, acted as the Company's placing agent
in respect of the Placing.

 

Admission to Trading and Total Voting Rights

Application will be made for the Placing Shares to be admitted to trading on
AIM ("Admission"). It is expected that Admission will become effective at 8:00
a.m. on or around 25 April 2025. The Placing Shares will rank pari passu with
the existing Ordinary Shares.

 

Following Admission, the total issued share capital of the Company will be
12,042,823,185 Ordinary Shares, with no shares held in Treasury. Therefore,
the total current voting rights in the Company following Admission will be
12,042,823,185 and this figure may be used by shareholders in 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.

 

Naheed Memon, CEO of Oracle, commented:

"We continue to advance on a number of fronts with our projects in Australia,
in particular, continuing to make good progress.  We expect to provide
further updates to the market on these in due course.  This fundraise will
provide us with additional funds to accelerate these activities."

 

 

*ENDS*

 

For further information:

 Oracle Power PLC                                      +44 (0) 203 580 4314

 Naheed Memon - CEO
 Strand Hanson Limited (Nominated Adviser and Broker)  +44 (0) 20 7409 3494

 Rory Murphy, Matthew Chandler, Rob Patrick
 St Brides Partners Limited (Financial PR)             +44 (0) 20 7236 1177

 Susie Geliher, Isabel de Salis

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

About Oracle Power PLC:

 

Oracle Power PLC is an international project developer quoted on London's AIM
market. The Company currently has two areas of focus: Western Australia and
Pakistan. The Company is active in the energy industry in Pakistan and is
working to establish one of the largest green hydrogen production facilities
in the region.

 

 

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