Business
Placing and total voting rights
Placing and total voting rights.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8759X Andalas Energy And Power PLC 23 December 2019 \n\nFor immediate release\n23 December 2019\n \nAndalas Energy and Power Plc\n('Andalas' or the 'Company')\nPlacing and total voting rights\nAndalas Energy and Power plc (AIM:ADL) is pleased to announce that it has raised £250,000 before expenses, through a conditional placing arranged by the Company's Broker, Optiva Securities Limited, (the \"Placing\") of 166,666,667 ordinary shares of nil par value (\"Ordinary Shares\") at a price of 0.15 pence (the \"Placing Price\") per Ordinary Share (\"Placing Shares\"), compared to the mid-market price of 0.16 pence at the close of business on 20th December 2019.\nThe net proceeds of the Placing will be used to further the Company's exploration and development activities and for general working capital.\nThe Placing is conditional on the Placing Shares, which will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, being admitted to trading on AIM (the \"Admission\"). Application is being made for the Placing Shares to be admitted to trading and AIM and Admission is expected to occur on or around 31 December 2019.\nTotal voting rights\nImmediately following Admission, the Company will have 1,210,636,967 Ordinary Shares in issue. Accordingly, the total number of Ordinary Shares in the Company with voting rights will be 1,210,636,967. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \nMarket soundings, as defined in MAR, were taken in respect of the conditional placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon...