Share Name Share Symbol Market Type Share ISIN Share Description
I3 Energy Plc LSE:I3E London Ordinary Share GB00BDHXPJ60 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.05 -11.29% 8.25 8.00 8.50 9.30 8.25 9.30 620,865 15:20:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.0 -5.0 - 9

i3 Energy PLC Issue of Equity / Grant of Warrants

06/12/2019 3:59pm

UK Regulatory (RNS & others)


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RNS Number : 1032W

i3 Energy PLC

06 December 2019

6 December 2019

i3 Energy plc

("i3" or the "Company")

Issue of Equity / Grant of Warrants

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces that further to its announcement on 8th November 2019 ('Liberator A2 and Funding Update'), it has now received subscriptions for 14,285,715 new ordinary shares in the Company at 35 pence per share from funds managed by Bybrook Capital LLP.

In addition, BP Oil International Limited, funds managed by Lombard Odier Investment Managers group, and James Caird Asset Management, being the investors other than Bybrook who participated in the Company's May 2019 Junior Loan Notes, all took up their contractual rights to be granted warrants to subscribe for new ordinary shares in the Company (the "New Warrants") in relation to the grant to Bybrook of warrants to subscribe for up to 8 million new ordinary shares in the Company, at an exercise price of 40 pence per share, as announced on 8(th) November 2019 (the "Bybrook Warrants"). The New Warrants are on the same terms as the Bybrook Warrants and have been granted over 1,503,798 new ordinary shares in the Company.

Application has been made for 14,285,715 new ordinary shares in the Company to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 9(th) December 2019. Following Admission, the Company will have in issue: 107,719,400 ordinary shares of GBP0.0001 each, and 5,000 deferred shares of GBP10.00 each. Shareholders may use this figure of ordinary shares as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

ENDS

CONTACT DETAILS:

 
   i3 Energy plc 
    Majid Shafiq (CEO) / Graham Heath      c/o Camarco 
     (CFO)                                  Tel: +44 (0) 203 781 8331 
 
     WH Ireland Limited (Nomad and Joint 
     Broker) 
    James Joyce, James Sinclair-Ford       Tel: +44 (0) 207 220 1666 
    GMP FirstEnergy (Joint Broker) 
    Jonathan Wright                        Tel: +44 (0) 207 448 0200 
    Canaccord Genuity Limited (Joint       Tel: +44 (0) 207 523 8000 
     Broker) 
     Henry Fitzgerald- O'Connor, James 
     Asensio 
    Camarco 
     Jennifer Renwick, James Crothers       Tel: +44 (0) 203 781 8331 
 
 
 
  Notes to Editors: 
   i3 is an oil and gas development company initially focused 
   on the North Sea. The Company's core asset is the Greater 
   Liberator Area, located in Blocks 13/23d and 13/23c, to which 
   i3's independent reserves auditor attributes 11 MMBO of 2P 
   Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of 
   mid-case Prospective Resources. The Greater Liberator Area 
   consists of the Liberator oil field discovered by well 13/23d-8 
   and the Liberator West extension. The Greater Liberator Area, 
   along with the Company's Serenity Prospect located in the 
   northern half of Block 13/23c and for which it carries a STOIIP 
   of 197 MMbbls, are owned and operated on a 100% working interest 
   basis. 
 
   The Company's strategy is to acquire high quality, low risk 
   producing and development assets, to broaden its portfolio 
   and grow its reserves and production. 
 
   The information contained within this announcement is deemed 
   by the Company to constitute inside information under the 
   Market Abuse Regulation (EU) No. 596/2014. 
 

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

MSCUGGQAPUPBGAQ

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December 06, 2019 10:59 ET (15:59 GMT)

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