Business
Result of Retail Offer & Total Voting Rights
Result of Retail Offer & Total Voting Rights.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n\n19 August 2024\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 \nGlobal Petroleum Limited\n(\"Global\" or \"the Company\")\n \nResult of Oversubscribed Retail Offer\n \nGlobal Petroleum Limited (LSE AIM: GBP) is pleased to announce, further to its earlier announcement of 14 August 2024, that it has conditionally raised £250,000 (before expenses) via the conditional issue of 384,615,385 new ordinary shares in the capital of the Company (the \"Retail Offer Shares\") at a price of 0.065 pence per share (the \"Issue Price\") pursuant to its offer to its existing retail shareholders via CMC CapX (the \"Retail Offer\"). \n \nDue to exceptional demand, the Retail Offer was significantly oversubscribed in relation to its original retail target raise of £100,000 and the Company decided to accommodate the excess demand from its shareholders. This has also resulted in participants being scaled back from their original amounts requested. The Company wishes to thank shareholders for their continued support.\n \nThe Retail Offer is conditional on the Retail Offer Shares being admitted to trading on the AIM market operated by the London Stock Exchange plc (\"Admission\"). Admission is expected to take place at 8.00 a.m. on or around 22 August 2024.\n \nFurther to the announcement of 14 August 2024, under the Consultancy Agreement the Company will issue Callum Baxter 200,000,000 Shares, in addition to 10% of the total number of new Shares issued pursuant to the Capital Raising, amounting to a further 130,769,231 Shares. Thus, the total shares due to Callum Baxter will be 330,769,231 new ordinary shares.\n \nAs announced on 14 August 2024, the Company will also issue the Consultants to the Transaction the following Shares in lieu of fees:\n· Omar Ahmad is to recieve147,000,522 Shares, plus a further 96,115,385 new ordinary shares, representing 7.35% of the total number of new Shares issued pursuant to the Capital Raising. The total number of shares due to Omar Ahmad will be 243,1...