REG - Synergia Energy Ltd - £750,000 Fundraise

Synergia EnergyAnnouncement

24/02/2025 07:00

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RNS Number : 1765Y  Synergia Energy Ltd  24 February 2025

RNS Announcement

 

24 February 2025

 

AIM: SYN

£750,000 Fundraise

 

Synergia Energy Ltd ("Synergia Energy" or the "Company") announces an equity
capital raising comprising of a placing and a subscription with existing and
new institutional investors, and a director, for a total of £750,000 before
expenses (the "Fundraising"), through the issue of 2,500,000,000 new fully
paid ordinary shares ("Fundraising Shares"). The Fundraising involved the
issue of 1,916,666,700 placing shares ("Placing Shares") and 583,333,300
subscription shares ("Subscription Shares") at GBP0.03 pence per share.

 

Net proceeds from the Fundraising will be used to bridge the Company's ongoing
general, administrative and technical costs prior to an expected increase in
revenues from its 50% working interest in the producing Cambay gas and
condensate field in India where it is carried on a US$20m field development
programme that is underway.

 

The Fundraising Shares will rank pari passu in all respects with the existing
shares. An application will be made to the London Stock Exchange for the
Fundraising Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective on or around 27 February 2025.

 

In connection with the Fundraising, the Company has also agreed to issue
115,000,002 unquoted warrants exercisable at GBP0.03 pence per share for a
period of 5 years from Admission of the Placing Shares to AIM ("Broker
Warrants").

 

Total Voting Rights

 

Following the issue of the Fundraising Shares, the Company's share capital and
total voting rights will comprise of 15,571,741,779 ordinary shares. The
Company does not hold any shares in treasury. Consequently, 15,571,741,779 is
the figure which may be used by shareholders as the denominator for the
calculation by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.

 

Director Participation

 

The following Director of the Company has subscribed for Subscription Shares:

 

 Director       Subscription amount  Number of Fundraising Shares  Resultant shareholding  Resultant interest in enlarged share capital
 Roland Wessel  £25,000              83,333,300                    226,988,286             1.46%

 

 

Related Party Transaction

 

Republic Investment Management Pte Ltd ("Republic") participated in £150,000
of the Fundraising.  Republic has a current shareholding in the Company of
13.4% and is therefore categorised as a Substantial Shareholder of the Company
pursuant to the AIM Rules for Companies ("AIM Rules"). Accordingly, Republic's
participation in the placing is classified as a related party transaction
pursuant to the AIM Rules.

The independent directors of the Company for the purposes of the Fundraise,
being those other than Mr Wessel, having consulted with Strand Hanson Limited,
the Company's Nominated Adviser, consider that the terms of Republic's
participation are fair and reasonable insofar as the Company's shareholders
are concerned.

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

 

For and on behalf of Synergia Energy Limited

 

 

Roland Wessel

CEO

For further information, please contact:

 Investor Enquires           AIM Joint Broker                 AIM Joint Broker               AIM Nominated Adviser          Media Enquires (UK)

 Synergia Energy Ltd         SP Angel Corporate Finance LLP   Novum Securities               Strand Hanson Limited          Vigo Consulting

 Briana Stayt                Broker                           Broker                         Nominated Adviser              Investor Relations

 Investor Relations          Richard Hail / Devik Mehta       Colin Rowbury                  Ritchie Balmer / Rory Murphy   Patrick d'Ancona / Finlay Thomson

 Email:                      Tel: +44 (0)20 3470 0470         Email:                         Tel: +44 20 7409 3494          Email:

 bstayt@synergiaenergy.com   UK                               crowbury@novumsecurities.com   UK                             patrick.dancona@vigoconsulting.com

 Tel: +61 8 9485 3200                                         Tel: +44 20 7399 9427                                         finlay.thomson@vigoconsulting.com

 Australia                                                    UK                                                            Tel:+ 44 20 7390 0230

                                                                                                                            UK

 

PDMR Dealing Notifications

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated

 a)  Name                                        Roland Wessel

 2   Reason for the notification

 a)  Position/status                             Chief Executive Officer

 b)  Initial Notification Amendment              Initial Notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                        Synergia Energy Limited

 b)  LEI                                         213800S292RJZ97HRR83

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial  instrument,   Ordinary Shares

     type  of

     instrument

     Identification code                         AU0000233538
 b)  Nature of the transaction                   Subscription of ordinary shares

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                 0.03p     83,333,300

 

 d)  Aggregated information

     - Aggregated volume                         Aggregated volume: 83,333,300

     - Price                                     Aggregated price: £24,999.99
 e)  Date of the transaction                     21 February 2025

 f)  Place of the transaction                    London Stock Exchange, AIM

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

Aggregated volume: 83,333,300

Aggregated price: £24,999.99

e)

Date of the transaction

21 February 2025

 

f)

Place of the transaction

London Stock Exchange, AIM

 

 

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