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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Empyrean Energy Plc | LSE:EME | London | Ordinary Share | GB00B09G2351 | ORD 0.2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -5.26% | 0.54 | 0.50 | 0.58 | 347,415 | 16:35:12 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 0 | -20.8M | -0.0211 | -0.27 | 5.62M |
TIDMEME
RNS Number : 6177M
Empyrean Energy PLC
12 May 2020
This announcement contains inside information
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas
Empyrean Energy PLC ("Empyrean" or the "Company")
Results of the Open Offer
12 May 2020
On 22 April 2020, Empyrean Energy Plc ("Empyrean"), the oil and gas development company with interests in China, Indonesia and the United States, announced the launch of an Open Offer pursuant to which Qualifying Shareholders were able to subscribe for 1 new Ordinary Share in the Company at a price of 3.5 pence each (the "Issue Price") for every 8 Ordinary Shares held at the Record Date ("Open Offer").
The Open Offer closed for acceptance at 11.00 a.m. on 11 May 2020 and the Company advises that valid applications, including pursuant to the Excess Application Facility, were received in respect of a total of 11,358,275 new Ordinary Shares, being approximately 20 per cent. of the Ordinary Shares made available pursuant to the Open Offer. Accordingly, the Company has raised gross proceeds of approximately GBP397,540 pursuant to the Open Offer. The Company has also issued 500,000 new Ordinary Shares to investors outside of the Open Offer through a direct subscription (the "Subscription"), raising a further GBP17,500 and increasing the gross proceeds raised to approximately GBP415,040. Together with the proceeds of the subscription announced on 14 April 2020, the Company has raised a total of approximately GBP825,990 in recent weeks.
Application has been made for the new Ordinary Shares to be issued pursuant to the Open Offer and the Subscription (together the "New Ordinary Shares") to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to take place on 14 May 2020. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.
Following the issue of the New Ordinary Shares, Empyrean's total issued share capital will comprise 471,197,281 Ordinary Shares, each with voting rights. This figure may be used by shareholders 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, securities of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Company confirms that John Laycock, a director of Empyrean, subscribed for a total of 400,000 new Ordinary Shares under the Open Offer. Following this subscription, Mr Laycock has an interest in 3,200,000 Ordinary Shares, representing approximately 0.68 per cent. of the enlarged issued share capital of the Company.
As previously stated, the Board may exercise its right to use its reasonable endeavours to place those Ordinary Shares not taken up pursuant to the Open Offer, amounting to 46,059,100 Ordinary Shares, at not less than the Issue Price, in order to raise up to the maximum proceeds under the Open Offer.
Further announcements will be made as appropriate.
Tom Kelly, Empyrean CEO, commented:
"We are pleased that the Subscription and Open Offer has raised funds at the higher end of our expectations, particularly given the unique challenges currently being experienced in equity markets as a result of CoVID-19, and the current oil market volatility. I would like to thank our existing Shareholders for their support of these capital raising initiatives and we look forward to updating Shareholders on the progress of operations in the near future."
Terms and definitions used in this announcement have the meaning ascribed to them in the Circular dated 22 April 2020, unless the context requires otherwise.
**ENDS**
For further information:
Empyrean Energy plc Tom Kelly Tel: +61 8 6146 5325 Cenkos Securities plc Neil McDonald Tel: +44 (0) 131 220 9771 Pete Lynch Tel: +44 (0) 131 220 9772
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. Details of the person discharging managerial responsibilities / person closely associated a) Name John Laycock --------------------------------------- ------------------------------------------- 2. Reason for the Notification ------------------------------------------------------------------------------------ a) Position/status Non-Executive Director --------------------------------------- ------------------------------------------- b) Initial notification/amendment Initial notification --------------------------------------- ------------------------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------ a) Name Empyrean Energy plc --------------------------------------- ------------------------------------------- b) LEI 213800ZRH1WBHEWDFA57 --------------------------------------- ------------------------------------------- 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 Ordinary Shares of 0.2p each ("Ordinary Financial instrument, Shares") type of instrument --------------------------------------- ------------------------------------------- Identification code GB00B09G2351 --------------------------------------- ------------------------------------------- b) Nature of the Transaction Issue of Shares --------------------------------------- ------------------------------------------- c) Price(s) and volume(s) Price Volume --------------------------------------- 3.5p per Ordinary Share 400,000 -------------------------------------------------------------------------- ------------ d) Aggregated information N/A (Single transaction) Aggregated volume Price --------------------------------------- ------------------------------------------- e) Date of the transaction 11 May 2020 --------------------------------------- ------------------------------------------- f) Place of the transaction London Stock Exchange, AIM (LON:EME) --------------------------------------- -------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
May 12, 2020 02:40 ET (06:40 GMT)
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