NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE, OR
TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION
OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS
RELATING TO THE RETAIL OFFER ARE ONLY BEING COMUNICATED TO, AND MAY
ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING
WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
(FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (WHICH INCLUDES AN
EXISTING MEMBER OF EMPYREAN ENERGY PLC. ANY INVESTMENT OR
INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE
ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF EMPYREAN ENERGY PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT
2018.
11
November 2024
Empyrean Energy
plc
Results of Retail
Offer
Empyrean Energy plc
or the "Company" (AIM:EME) advises, further to
the announcements made on 6 November 2024, the results of the
opportunity for its existing retail shareholders via the CMC CapX
(the "Retail Offer") to
subscribe for new ordinary shares in the capital of the Company.
The Company announces that it has conditionally raised gross
proceeds of approximately £59,399 through the conditional issue of
59,399,000 new ordinary shares pursuant to the Retail Offer, for
which acceptances closed at 5.00 p.m. on 8 November 2024, and in
addition, the Company has accepted direct subscriptions for a
further amount of £75,268 (75,268,332 new ordinary shares) on the
same terms.
Accordingly, the Company has raised
gross proceeds of approximately £1.255m from the aggregated Placing
and Subscription announced on 6 November 2024 when combined with
the Retail Offer and additional direct subscriptions received as at
today's date. As a result, the Company will, subject to
approval at a general meeting on or about 2 December 2024 and
following the Capital Reorganisation, issue a total of
1,255,167,332 new Ordinary Shares pursuant to the Placing, direct
Subscriptions and Retail Offer (together the "Fundraising Shares"). All of the
Fundraising Shares are being issued at a price of 0.1p (the Issue
Price").
As advised on 6 November 2024 the
Company conditionally raised £1.12 million (before costs) pursuant
to the Placing and the Subscription.
The issue of the Fundraising Shares
is conditional upon the passing of the resolutions to be put to
shareholders of the Company at a General Meeting, expected to be
held at the offices of the Cavendish at 1
Bartholomew Close, London, EC1A 7BL at 10.00 a.m. on Monday 2 December
2024. The issue of the Fundraising Shares is
also conditional on being admitted to trading on the AIM
market operated by London Stock Exchange plc ("Admission").
Admission is expected to take place
at 8.00 a.m. on 3 December
2024. Completion of the Retail Offer
is conditional, inter
alia, upon the completion of the Placing.
Following Admission, the Company
will have 2,550,092,441 New Ordinary Shares in issue. This figure
may be used by shareholders of the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
Terms used but not defined in this
announcement have the same meaning as set out in the Company's
announcement released on 6 November 2024.
For Further Information
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Empyrean Energy plc
Retail Offer
CMC CapX
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T: +61 8
6146 5325
capx@cmcmarkets.com / telephone
number +44 (0) 20 3003 8632
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Further information on the Company
can be found on its website at www.empyreanenergy.com