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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advance Energy Plc | LSE:ADV | London | Ordinary Share | IM00BKSCP798 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.155 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMADV
RNS Number : 1723F
Advance Energy PLC
12 November 2020
12 November 2020
Advance Energy plc
("Advance Energy" or the "Company")
Placing and Issue of Equity
Advance Energy plc ( AIM:ADV ), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, announces that it has raised GBP300,000 (gross) by way of a placing ("Placing") of 136,363,636 new ordinary shares of no par value in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.22 pence per Placing Share ("Placing Price") through Optiva Securities Ltd ("Optiva"), the Company's joint broker.
Use of Proceeds
The Company intends to utilise the net proceeds of the Placing to provide funds for progressing new venture opportunities and for general working capital purposes.
Issue of Equity
In addition to the Placing Shares, the Company has agreed to issue 21,416,515 Ordinary Shares at the Placing Price to various creditors to settle outstanding amounts ("Additional Shares").
Admission
The Placing is subject to normal conditions including, inter alia, admission of the Placing Shares to trading on AIM.
The Placing Shares and Additional Shares will rank pari passu with the existing Ordinary Shares and application will be made for the Placing Shares and Additional Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares and Additional Shares will commence at 8.00 a.m. on 18 November 2020.
Following Admission, the Company's issued share capital will consist of 1,718,417,116 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. The figure of 1,718,417,116 may be used by shareholders, following 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Enquiries:
Buchanan (Public Relations)
Ben Romney / Kelsey Traynor +44 (0)20 7466 5000
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish / James Biddle +44 (0) 20 7628 3396
Optiva Securities Limited (Joint Broker)
Christian Dennis +44 (0)20 3411 1881
Novum Securities Limited (Joint Broker)
Colin Rowbury +44 (0)20 7399 9427 For further information, please visit www.advanceplc.com and @advanceplc on Twitter
To register for Advance's email alerts, please complete the following form: https://www.advanceplc.com/media-centre/news/#alerts
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").
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(END) Dow Jones Newswires
November 12, 2020 09:37 ET (14:37 GMT)
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