Business
Conditional Placing to raise up to £3.5m and GM
Europa Oil & Gas (Holdings) plc is undertaking a conditional placing to raise up to £3.5 million at 1.2 pence per new ordinary share, representing a discount to the previous day's closing price. Investors will receive one warrant for every four placing shares, exercisable at 2 pence within two years. The funds will extend the company's cash runway to drill the Barracuda prospect, with approximately £1.5 million allocated to fund Europa's share of drilling costs in Equatorial Guinea and £2.0 million for general working capital. The success of this fundraising is critical for the company's continued operations and its interest in the EG-08 licence. Disclaimer*
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n\nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n \nNOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND 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 THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA AND NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. 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 AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n10 February 2026\nEuropa Oil & Gas (Holdings) plc\n('Europa' or the 'Company')\n \nConditional Placing to raise up to £3.5m\n and\nGeneral Meeting\n \n \nEuropa Oil & Gas (Holdings) plc, (AIM: EOG) the AIM quoted West Africa, UK and Ireland focused oil and gas exploration, development and production company, announces its intention to raise up to £3.5 million (the \"Fundraising\") via a placing of new ordinary shares (\"Placing Shares\") of 1 pence each in the Company (\"Ordinary Shares\") to institutional and other investors (the \"Placing\") at a price of 1.2 pence per new Ordinary Share (the \"Placing Price\"). The Placing Price represents a discount of approximately 20 per cent. to the closing bid price of an Ordinary Share on 9 February 2026 (being the latest practicable date prior to this announcement).\nInvestors in the Fundraising will receive one warrant for every four Placing Shares (\"Warrant\"). The Warrants have an exercise price of 2 pence and will expire 2 years after the date of the Placing Shares' a...