Results of GM - Completion of Equity Fundraising
Afentra plc announced the successful completion of its equity fundraising following shareholder approval at a General Meeting, with resolutions passing overwhelmingly. The company has allotted 24,684,714 new Ordinary Shares, comprising 21,699,640 Conditional Placing Shares and 2,985,074 Retail Offer Shares. These shares are expected to be admitted to trading on AIM on June 26, 2026, bringing the total issued share capital to 273,456,304 Ordinary Shares. Directors Thierry Tanoh, Andrew Osborne, and Gavin Wilson participated in the Conditional Placing, purchasing new ordinary shares at 67 pence each, increasing their respective holdings.
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Afentra plc ("Afentra" or the "Company") (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in Africa, announces that at the General Meeting held earlier today, the resolutions were put to shareholders by way of a poll and all of the resolutions were passed. The following votes were received by the Company from shareholders.
| Resolution | For | Against | Withheld | |||
|---|---|---|---|---|---|---|
| No. of shares | % of votes | No. of shares | % of votes | |||
| 1. | To allot the Conditional Placing Shares and the Retail Offer Shares in connection with the Conditional Placing and the Retail Offer | 74,738,155 | 99.79 | 153,981 | 0.21 | 8,088 |
| 2. | To disapply pre-emption rights in connection with the allotment of the Conditional Placing Shares and the Retail Offer Shares * | 74,736,815 | 99.79 | 155,321 | 0.21 | 8,088 |
* Special resolution
Allotment of Shares
Pursuant to resolutions of the Board and following the General Meeting, 24,684,714 new Ordinary Shares have been allotted comprising 21,699,640 Conditional Placing Shares and 2,985,074 Retail Offer Shares.
Admission and Total Voting Rights
Following the General Meeting, the Company will make an application for the 21,699,640 Conditional Placing Shares and 2,985,074 Retail Offer Shares to be admitted to trading on AIM at 8.00 a.m. on 26 June 2026.
Following the admission of the Conditional Placing Shares and Retail Offer Shares, the total issued share capital of the Company will be 273,456,304 Ordinary Shares. The Company has no Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 273,456,304. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.
Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company's circular to shareholders dated 9 June 2026.
Notes:
- Proxy appointments which gave discretion to the Chair of the General Meeting have been included in the "For" total for the appropriate resolution.
- The percentage of votes cast excludes withheld votes.
- The total number of ordinary shares of the Company in issue on 25 June 2026 was 248,771,590. Ordinary shareholders are entitled to one vote per share held.
- The full text of the resolutions passed at the General can be found in the Notice of General Meeting which is available on the Company's website at https://www.afentraplc.com/investors/documents-circulars/.
Participation by Directors
Certain Directors have participated in the Conditional Placing for total gross proceeds of £182,566, as set out below.
| Director | Holding of Ordinary Shares after First Admission | New Ordinary Shares to be issued pursuant to the Conditional Placing | Resultant holding of Ordinary Shares following Second Admission |
|---|---|---|---|
| Thierry Tanoh | 140,148 | 136,822 | 276,970 |
| Andrew Osborne | 326,201 | 98,799 | 425,000 |
| Gavin Wilson | 3,389,427 | 36,865 | 3,426,292 |
The FCA notifications, made in accordance with the requirements of UK MAR, are appended below.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | 1. Thierry Tanoh 2. Andrew Osborne 3. Gavin Wilson |
| 2. | Reason for the notification | |
| a) | Position/status: | 1. Chairman 2. Non-Executive Director 3. Non-Executive Director |
| b) | Initial notification/Amendment: | Initial Notification |
| a) | Name | Afentra plc |
| b) | LEI: | 21380028BFDFJK8BRX92 |
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary Shares of £0.10 per share par value GB00B4X3Q493 |
| b) | Nature of the transaction: | Purchase of Ordinary Shares |
| c) | Price(s) and volume(s): | Price(s) Volume(s) 1.Thierry Tanoh 67p 136,822 2. Andrew Osborne 67p 98,799 3. Gavin Wilson 67p 36,865 |
| d) | Aggregated information: · Aggregated volume: · Price: | N/a N/a |
| e) | Date of the transaction: | 26 June 2026 |
| f) | Place of the transaction: | XLON |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.