Business
Proposed Placing, Subscription and Open Offer
Proposed Placing, Subscription and Open Offer.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, NEW ZEALAND, RUSSIA OR THE REPUBLIC OF SOUTH AFRICA.\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this announcement. Upon the publication of this announcement, such information will no longer constitute inside information.\n \n \n \n \n \n \n \n \n \n 12 September 2022\n \n \n \n \n \n Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources\n \n \n \n Deltic Energy Plc (\"Deltic\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Proposed Placing, Subscription and Open Offer to raise a minimum of £15 million \n \n \n \n \n \n \n \n \n Deltic Energy Plc, the AIM-quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, announces its intention to conduct an equity fundraise (the \"Fundraising\") consisting of a placing and subscription targeting minimum gross proceeds of £15 million, and an open offer for up to an additional £2 million, both at a price of 3.5 pence per share.\n \n \n Stifel Nicolaus Europe Limited (\"Stifel\") and Canaccord Genuity Limited (\"Canaccord\") are acting as joint bookrunners (the \"Joint Bookrunners\") to the Company in connection with the Fundraising. \n \n \n The placing is being conducted through an accelerated bookbuilding process (the \"Bookbuild\") which will be launched immediately following this announcement and will be made available to eligible institutional investors on the terms and conditions set out in the Appendix to this announcement. The Bookbuild is expected to close no later than 8.00 a.m. on 13 September 2022. However, the Joint Bookrunners and the Company reserve the right to close the Bookbuild earlier or later, without further notice.\n \n \n Capitalised terms not otherw...