RNS Number : 9357O
Zephyr Energy PLC
30 June 2025
30 June 2025
Zephyr Energy plc
("Zephyr" or the "Company")
Director Subscription to raise £0.7 million
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) announces that further to the Placing announced on 25 June 2025, certain Directors, management and their affiliates have now subscribed for, in aggregate, 23,333,333 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at an issue price of 3 pence per new Ordinary Share (the "Issue Price"), conditional on the passing of the Resolutions at the General Meeting on 14 July 2025 (the "Director Subscription").
The Director Subscription raises £0.7 million (before expenses) for the Company and together with the Placing of 326,666,667 new Ordinary Shares at the Issue Price, details of which were announced on 25 June 2025, in aggregate £10.5 million (before expenses) has been raised for the Company.
Of the Director Subscription, 2,132,099 new Ordinary Shares have been subscribed for by certain employees of the Company and the following Directors have conditionally subscribed for a total of 21,201,234 new Ordinary Shares at the Issue Price:
Director/shareholder
Position
New Ordinary Shares being subscribed for
Total Ordinary Shares held on Admission
Percentage of enlarged share capital on Admission
Origin Creek Energy LLC1
Controlled by Colin Harrington
18,282,716
177,237,262
8.44%
Colin Harrington1
Chief Executive Officer
1,234,568
2,688,504
0.13%
Rick Grant
Non-Executive Chairman
617,284
2,117,284
0.10%
Chris Eadie
Group Finance Director
1,000,000
8,229,640
0.39%
Gordon Stein
Non-Executive Director
33,333
2,383,333
0.11%
Tom Reynolds
Non-Executive Director
33,333
1,033,333
0.05%
1Rick Grant, the Non-Executive Chairman of Zephyr, and Colin Harrington, the Chief Executive Officer of Zephyr, are both shareholders and directors of Origin Creek Energy LLC ("OCE"), and Colin Harrington is indirectly the controlling shareholder of OCE. As a result, Colin Harrington's total interest in the Company including OCE on Admission will be 179,925,766 Ordinary Shares (representing approximately 8.565 per cent. of the issued share capital of the Company on Admission).
The FCA notification table in respect of these director dealings, made in accordance with the requirements of UK MAR, is appended further below.
Due to limits on the existing share authorities available to the Company the Placing comprised two tranches. The First Placing completed on 27 June 2025. The Director Subscription is expected to complete alongside the Second Placing on or around 15 July 2025 subject to the passing of the Resolutions at the General Meeting on 14 July 2025, details of which are set out in the announcement of 24 June 2025.
Admission to AIM
Application has been made to the London Stock Exchange for admission of the 151,594,765 Second Placing Shares and 23,333,333 Director Shares to trading on AIM ("Admission"), subject to, amongst other things, the passing of the Resolutions at the General Meeting. Admission is expected to occur on or around 15 July 2025 or such later time and/or date as the Bookrunners and the Company may agree (being in any event no later than 8.00 a.m. on 29 July 2025).
Total voting rights
Immediately following Admission, the Company will have 2,100,719,020 ordinary shares of 0.1p each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of ordinary shares in issue and voting rights will be 2,100,719,020 and this figure may be used by shareholders from Admission as the denominator for the calculations 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 Guidance and Transparency Rules.
Unless otherwise defined herein, definitions contained in this announcement have the same meaning as set out in the Company's announcement of 24 June 2025.
Contacts:
Zephyr Energy plc Colin Harrington (CEO) Chris Eadie (Group Finance Director and Company Secretary)
Tel: +44 (0)20 7225 4590
Allenby Capital Limited- AIM Nominated Adviser Jeremy Porter / Vivek Bhardwaj
Tel: +44 (0)20 3328 5656
Turner Pope Investments- Joint Broker James Pope / Andy Thacker Canaccord Genuity Limited-Joint Broker Henry Fitzgerald-O'Connor / Charlie Hammond Celicourt Communications - PR Mark Antelme / Ali AlQahtani
Notes to Editors
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas company focused on responsible resource development in the Rocky Mountain region of the United States. The Company's mission is rooted in two core values: to be responsible stewards of its investors' capital, and to be responsible stewards of the environment in which it works.
Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah. In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana. Cash flow from the Williston production will be used to fund the planned Paradox Basin development. In addition, the Board will consider further opportunistic value-accretive acquisitions.
This Announcement is made in accordance with the Company's obligations under Article 17 of UK MAR and the person responsible for arranging for the release of this Announcement on behalf of Zephyr is Colin Harrington, Chief Executive Officer.
Director/PDMR UK MAR disclosures
The following notification, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Name
Position
Origin Creek Energy LLC
Controlled by Colin Harrington
Colin Harrington
Chief Executive Officer
Rick Grant
Non-Executive Chairman
Chris Eadie
Group Finance Director
Gordon Stein
Non-Executive Director
Tom Reynolds
Non-Executive Director
2
Reason for the notification
a)
Position/status
See above
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Zephyr Energy Plc
b)
LEI
254900TAVH3MBZ1EMC29
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, type of instrument Identification code
Ordinary shares of 0.1p each in Zephyr Energy Plc Identification code (ISIN) for Zephyr Energy Plc ordinary shares of 0.1 pence each: GB00BF44KY60
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