Business
Secondary placing of shares in Energean plc
Secondary placing of shares in Energean plc.
About this update from Energean Plc
[{"type":"text","content":"\n\nNot for publication, distribution or release directly or indirectly, in whole or in part, in or into the United States, Australia, Canada or Japan or in any other jurisdiction in which offers or sales would be prohibited by applicable law.\nThis announcement is not an offer to sell or a solicitation to buy securities in any jurisdiction, including the United States, Australia, Canada, Israel or Japan. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.\nThis announcement contains inside information.\n13 December 2023\nSecondary placing of shares in Energean plc\nStifel Nicolaus Europe Limited (\"Stifel\") announces that it has acted as sole bookrunner (the \"Bookrunner\") on the secondary sale of 4,422,013 ordinary shares (the \"Placing Shares\") in Energean plc (\"Energean\" or the \"Company\") by Kerogen Investments No.38 Limited (\"Kerogen\", or the \"Seller\").\nThe Placing Shares result from Kerogen's conversion into ordinary shares of the entire principal amount of $50 million outstanding under the convertible notes issued by the Company to Kerogen under the Convertible Loan Note Instrument dated 25 February 2021 (the \"Convertible Notes\"), ahead of the final repayment date on 29 December 2023.\nThe Placing Shares, which will represent approximately 2.4 per cent. of the Company's ordinary share capital (following the conversion of the Convertible Notes into ordinary shares), were placed at a price of 935 pence per share (the \"Placing Price\"), raising gross proceeds of £41.3 million.\nSettlement of the Placing Shares is expected to occur on 21 December 2023, following the conversion of the Convertible Notes into ordinary shares.\nEnquiries:\n\n\n\n\nStifel Nicolaus Europe Limited - Sole Bookrunner\nCallum Stewart / Ashton Clanfield / Simon Mensley\n \n\n\n+44 (0) 20 7710 7600\n \n\n\n\n\n \nThis announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia or Japan or any other jurisdiction in which the release, publication or distribution of such an announcement would be unla...