REG - Pennpetro Energy PLC - Placing and Broker Appointment

Pennpetro EnergyAnnouncement

16/03/2022 16:45

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RNS Number : 0377F  Pennpetro Energy PLC  16 March 2022

 

 

 

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
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This announcement is not an offer for sale, or a solicitation of an offer to
acquire, securities in any jurisdiction, including in or into the United
States, Canada, Australia, or Japan. Neither this announcement nor any part
of it shall form the basis of or be relied on in connection with or act as an
inducement to enter into any contract or commitment whatsoever.

 

 

Pennpetro Energy PLC

("Pennpetro" or the "Company")

 

 

Placing and Broker Appointment

 

London, 16 March 2022 - Following the announcement this morning of a proposed
farm-in arrangement with Upland Resources Limited, Pennpetro, the independent
oil and gas company, is pleased to announce the successful completion of a
placing (the "Placing"), arranged by the Company's broker Peterhouse Capital
Limited ("Peterhouse"), to raise £350,000 before expenses, via the issue of
1,166,667 new ordinary shares (the "Placing Shares") at a price of 30p per
share.

 

Pennpetro is also pleased to announce the appointment of Peterhouse as broker
to the Company with immediate effect.

 

Application will be made for admission of the Placing Shares to the standard
listing segment of the Official List and for admission to trading on the
London Stock Exchange's Main Market for listed securities. It is expected
that admission will take place at 8.00am on 21 March 2022 and that dealings in
such shares will commence at the same time.

Tom Evans, CEO of Pennpetro Energy plc, commented:

 

"We thank our existing shareholders and welcome our new investors to our
ongoing development initiatives, as we simultaneously progress and complete
our proposed farm-in agreement with Upland Resources. Shareholders can
confidently look forward to an exciting and progressive series of developments
in the near future."

 

Total Voting Rights

Following the issue of the Placing Shares, the Company's issued share capital
will comprise 77,618,773 ordinary shares of £0.01 each. The total number of
voting rights in the Company following the issue of the Placing Shares will be
77,618,773. This figure may be used by shareholders as the denominator for the
calculations by which they determine if they are required to notify their
interests in, or a change to their interest in, the share capital of the
Company under the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority.

 

Enquiries

 

 Pennpetro Energy plc

 Thomas Evans                         tme@pennpetroenergy.co.uk (mailto:tme@pennpetroenergy.co.uk)
 Instinctif

 Galyna Kulachek                      pennpetro@instinctif.com (mailto:pennpetro@instinctif.com)

 Sarah Hourahane                      +44 (0) 20 7457 2020
 Peterhouse Capital Limited (broker)  +44 (0) 20 7469 0930

 Lucy Williams

 

 

NOTES TO EDITORS

 

Pennpetro Energy is an independent oil and gas company focusing on production
in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted
to the Official List of the London Stock Exchange by way of a Standard Listing
on 21 December 2017.

 

Further information on the Company can be found at www.pennpetroenergy.co.uk
(http://www.pennpetroenergy.co.uk)

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