Business
Proposed Capital Raise
Proposed Capital Raise.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.\n \n \n \n 15 June 2022\n \n \n \n Rockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\n \n \n \n \n Proposed Capital Raise\n \n \n \n \n \n \n \n \n \n Proposed equity raise of approximately US$\n \n \n 4.5\n \n \n million (approximately £3.7 million) by way of a Placing and a proposed Subscription\n \n \n \n \n and\n \n \n \n \n Open Offer of up to approximately US$5 million (approximately £4.1 million)\n \n \n \n The Company today announces its intention to raise approximately US$4.5 million (approximately £3.7 million), before expenses, by way of a Placing and a proposed Subscription, in each case at an issue price of 7 pence per Unit (the \"Issue Price\"). Each Unit being offered comprises one New Ordinary Share and, for every two New Ordinary Shares subscribed for, one Warrant. Each Warrant gives the holder the right to subscribe for one new Ordinary Share at a price of 9 pence per Ordinary Share (the \"Strike Price\") at any time from the issue of the Warrants up to (and including) 5.00 p.m. on 31 December 2023 (the \"Warrant Exercise Period\"). The Issue Price represents a discount of approximately 12.5 per cent. to the Closing Price of 8 pence per Existing Ordinary Share on 14 June 2022 (being the latest practicable date prior to the release of this announcement (together with the Appendix, the \"Announcement\")).\n \n \n In addition, the Company is seeking to raise up to approximately US$5 million (£4.1million) through an Open Offer (together with the Placing and Subscription, the \"Capital Raising\") pursuant to which Units will be offered to existing Shareholders at the Issue Price. If the Resolutions to (i) allot shares (or rights t...