Business
Proposed Placing & Subscription and Retail Offer
Proposed Placing & Subscription and Retail Offer.
About this update from Prospex Energy Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS \"ANNOUNCEMENT\"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN THE APPENDIX WHICH CONTAINS THE TERMS AND CONDITIONS OF THE PLACING.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (\"MAR\").\n \n \nProspex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas\n \n24 June 2025\n \nProspex Energy plc\n(\"Prospex\" or the \"Company\")\n \nProposed Placing and Subscription to raise a minimum of £550,000\nand retail offer for up to £500,000\nFundraising to fund ongoing operations in Spain\n \nProspex Energy plc (AIM: PXEN), the AIM quoted investing company focused on European gas and power projects, is pleased to announce that it intends to raise a minimum of £550,000 by way of a Placing to qualified investors (\"Placing\"), and Subscription by certain existing shareholders and other investors (\"Subscription\"), of, in aggregate, 12,222,222 new ordinary shares of 0.1p in the Company (\"Ordinary Shares\") at a price of 4.5 pence per share (the \"Issue Price\").\n \nIn addition, the Company is proposing a retail offer to existing shareholders for up to 11,111,111 new Ordinary Shares at the Issue Price to raise up to an additional £500,000 (the \"Retail Offer\", and together with the Placing and Subscription, the \"Fundraise\"). The Retail Offer may be increased by the board of the Company (the \"Board\") depending on demand. The proceeds from the Fundraise will be used to fund ongoing operations on the Company's three main producing assets onshore in Spain and Italy.\n \nPlacing and Subscription\n \nThe Placing will be conducted through the issue of 5,388,889 new Ordinary S...