Business
Result of Oversubscribed Bookbuild & Notice of GM
Result of Oversubscribed Bookbuild & Notice of GM.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT 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.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n25 June 2025\n \nZephyr Energy plc\n(\"Zephyr\" or the \"Company\")\n \nResult of oversubscribed Bookbuild\nand\nPosting of notice of General Meeting\n \n£10.5 million fundraise comprising a £9.8 million Placing and £0.7 million proposed Director Subscription\n \nOn 24 June 2025 the Company announced a proposed equity fundraising by way of an accelerated bookbuild (the \"Fundraising Announcement\"). The Board of Zephyr is pleased to announce that the Bookbuild has concluded and that it has conditionally raised gross proceeds of approximately £9.8 million at the Issue Price of 3.0 pence through the Placing of 326,666,667 Placing Shares to new and existing investors.\n \nIn addition, certain Directors, management and their affiliates intend to subscribe for 23,333,333 new Ordinary Shares at the Issue Price to raise a further £0.7 million for the Company after publication of the Company's audited results for the year ended 31 December 2024 by 30 June 2025, subject to the passing of the Resolutions.\n \nThe Placing was undertaken on the back of three key recent catalysts for the Company:\n \n1. The Company delivered a highly successful production test on the State 36-2R well. The test achieved a notable, choked-back peak flow rate of 2,848 boe per d...