Posting of Circular

13 November 2024

Empyrean Energy Plc

("Empyrean" or the "Company")

Posting of Circular

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in Indonesia and the United States, announces that the Circular to Shareholders in connection with the Proposed Fundraising and the Capital Reorganisation, including the Notice of General Meeting, is being posted to Shareholders today and will be available on the Company's website at https://www.empyreanenergy.com/.

As previously announced, the Fundraise and Capital Reorganisation are each conditional on, inter alia, shareholder approval of certain resolutions to be proposed at a general meeting of the Company 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.

Admission, settlement and dealings

Application will be made for admission of the New Ordinary Shares (comprising 1,294,925,109 existing Ordinary Shares following the Capital Reorganisation, 530,000,000 Placing Shares, 665,768,332 Subscription Shares and 59,399,000 Retail Offer Shares) to trading on AIM, being the market of that name operated by the London Stock Exchange.

Admission is expected to take place at 8.00 a.m. on or around 3 December 2024.

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.

The New Ordinary Shares following the Capital Reorganisation will have the same rights as those currently accruing to the Existing Ordinary  Shares in issue, including those relating to voting and entitlement to dividends. The Placing Shares, Subscription Shares and Retail Offer Shares, when issued, will be fully paid and will rank pari passu in all respects with the New Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Capitalised terms in this announcement shall have the same meaning as in the Circular.

For further information please visit www.empyreanenergy.com or contact the following: