Business
Placing & Subscription & Project Update
Placing & Subscription & Project Update.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, RUSSIA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF ZEPHYR ENERGY PLC.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\"), WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. MARKET SOUNDINGS, AS DEFINED IN MAR, WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS PREVIOUSLY BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND ALL SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n6 June 2023\n \nZephyr Energy plc\n(\"Zephyr\" or the \"Company\")\n \n£3.15 million raised in a Placing and Subscription\nUpdate on State 36-2 well and operational guidance\n \nZephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas company focused on responsible resource development from carbon-neutral operations, is pleased to announce a placing of (\"Placing\") and subscription for (\"Subscription\"), in aggregate, 90,000,000 new ordinary shares of 0.1 pence (\"p\") each in the Company (\"Fundraising Shares\"), at a price of 3.5p per Fundraising Share (\"Issue Price\"), to raise £3.15 million before expenses (together, the \"Fundraising\").\n \nThe Fundraising was conducted using existing share authorities granted to directors of Zephyr (the \"Directors\" or the \"Board\") at the Company's annual general meeting held on 21 July 2022 (the \"2022 AGM\") and has been supported by a range of existing institutional and other investors, including clients of Premier Miton. The Placing was conducted by the Company's Joint Broker, Turner Pope Investments...